Nov 21, 2009
Posted by Altman & Associates in Blog - "Altman Speaks"
Q&A: Who is Responsible for Debts After Someone Dies?
A reporter recently asked me the question: “Who is Responsible for Debts After Someone Dies?” After someone passes, family members typically have no obligation to pay the debts of the decedent from their sole and individual funds. Debts of the decedent must be paid by the decedent’s... Read More
Nov 16, 2009
Posted by Altman & Associates in Blog - "Altman Speaks"
FYI: Two IRA Tax Breaks Will End Soon
A colleague of mine sent me the below info on two tax provisions which are scheduled to expire after December 31, 2009. Here’s how they might impact you: 1. For 2009 only, you have the option of skipping your required minimum distribution (RMD) from traditional IRAs and certain other... Read More
Nov 12, 2009
Posted by Altman & Associates in Blog - "Altman Speaks"
Congress Has Been Silent on Estate Tax Reform
I have written previous blogs on this topic in an effort to plan and keep my clients informed of the possibilities for the future. As we rapidly move forward to the end of the year, I thought that by now, we would have seen some discussion in congress on the estate tax law and possibly an... Read More
Nov 11, 2009
Posted by Altman & Associates in Blog - "Altman Speaks"
Debunking the Top Estate Planning Myths: The Key to Protecting the Future of Your Assets
Here are some of the most common estate planning myths, debunked: 1. Estate plans are only important for the Gates, Buffets and Rockefellars of the world. False. In fact, nothing could be further from the truth. Yet, More than 60% of all Americans die without one, leaving their estates to be... Read More
Nov 11, 2009
Posted by Altman & Associates in Blog - "Altman Speaks"
Jointly Held Accounts: A Cautionary Tale
When someone dies, his executor or personal representative is responsible for preparing the decedent’s final income tax return and the decededent’s estate is liable for all income tax due. If the executor distributes the estate without payment of the income taxes, the IRS could hold the... Read MoreConnect with us!
