May 17, 2011
Posted by Altman & Associates in Blog - "Altman Speaks"
Time, Detail, Title of Assets & Clarity are Critical to an Effective Estate Plan
On October 12, 2010, the Court of Appeals of Michigan reaffirmed the notion that the title of assets and clear language in a Will or Trust is key effective estate planning. While we want to believe that our friends, family, and peers are goodhearted and will honor their words, the only way to... Read More
May 15, 2011
Posted by vanderhave in Blog - "Altman Speaks"
IRA’ Transferred to Special Needs Trust Given Preferential Tax Treatment
In a previous entry, I cautioned readers of the potential disastrous federal income tax consequences that could result from a transfer of one’s IRA to their revocable trust. As you may recall, the transfer of an IRA to a revocable trust triggers the immediate income... Read More
May 11, 2011
Posted by Altman & Associates in Blog - "Altman Speaks"
A Note of Thanks
I wanted to take this opportunity to thank my fellow attorneys and other industry peers who nominated me for this great honor… Local Estate Planning Attorney, Gary Altman, Honored as DC and Maryland “Super Lawyer” as His Firm Celebrates 25 Years in Business [ROCKVILLE, MD] – May... Read More
May 2, 2011
Posted by Altman & Associates in Blog - "Altman Speaks"
IRAs Cannot Be Owned by a Revocable Trust
Once again, the IRS has confirmed that an IRA cannot be owned by someone’s revocable trust during his or her lifetime. Over the years, I have reviewed many revocable trust documents prepared by other attorneys, which include an attached Schedule A that states that the grantor has assigned or... Read More
Apr 25, 2011
Posted by Altman & Associates in Blog - "Altman Speaks"
Important Info for Those Who Acquired Property from a Decedent who Passed in 2010
If you acquired property from a decedent who died in 2010, special rules may apply in determining tax items including basis, gain, loss, holding period, and character for the property. Section 301(c) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, P.L... Read MoreConnect With Us!
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