Vanessa Terzian E: vterzian@lagerlof.com PH: 818-864-6174 | Edward Terzian E: consultation@inheritancerecovery.com PH: 818-579-2358
Common purposes for trusts include: Privacy. Trusts may be created purely for privacy. The terms of a will are public and the terms of a trust are not. In some families, this alone makes the use of trusts ideal. Spendthrift Protection. Trusts may be used to protect beneficiaries (for example, one’s children) against their own…
DetailsWith a federal exemption of estate taxes and gift taxes through 2012 of $5 million per person, significant planning strategies may be completed within the next year and a half in order to save a significant amount of funds for future generations. There are challenges in making these decisions, however, as oftentimes you must relinquish…
DetailsEstate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Guardians are often designated for minor children and beneficiaries in incapacity. Contents 1 Estate…
DetailsNot in writing – then no deduction… The IRS (ECC 201120022) stated in a email that a taxpayer who makes a charity gift and fails to obtain a contemporaneous written acknowledgment from the charitable donee cannot claim an income tax charitable deduction even if the donee subsequently files an amended Form 990 for the year…
DetailsIn 2010, there was a lot of commotion over the repeal of the $100,000 modified adjusted gross income limitation. With the reinstatement of the “Bush tax cuts”, Roth IRA conversions have once again become a powerful short-term and long-term income tax planning strategy, especially in 2011 and 2012. Understanding Roth IRA conversions is not easy.…
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