Blog
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Start Your Tax Planning Before Year End
Start Your Tax Planning Before Year End If you are like most Americans, you are just starting to put together all your documentation to take to your accountant, so that you can file your tax return for 2015. But according to experts, you should have started planning for the preparation of your re... Read more
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2016 Estate, Gift and Generation-Skipping Transfer Tax Update
2016 Estate, Gift and Generation-Skipping Transfer Tax Update As a part of the American Taxpayer Relief Act of 2012, Congress simplified matters by unifying the federal estate and gift tax systems, and increased the amount of the exemption to $5,000,000, with annual adjustments for inflation. T... Read more
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Can You Pass an Inherited IRA to Your Children?
Can You Pass an Inherited IRA to Your Children? Suppose that your spouse has an IRA and you are the named beneficiary, but you don't really need any of the money in the IRA? It's built up tax free over a number of years, and you don't want to incur the tax consequences, or you'd simply prefer to ... Read more
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Assets You’ve Recently Sold or Given Away
Assets You've Recently Sold or Given Away Your Assets in Bankruptcy As we discussed in our last blog post, when you file a bankruptcy case everything you own at that moment in time comes under the jurisdiction of the bankruptcy court. The law has to pick a point in time—when your case is filedâ... Read more
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Assets You’ve Recently Sold or Given Away
Your Assets in Bankruptcy As we discussed in our last blog post, when you file a bankruptcy case everything you own at that moment in time comes under the jurisdiction of the bankruptcy court. The law has to pick a point in time—when your case is filed—to look at your financial situation, esp... Read more
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Addressing Special Asset Issues
Addressing Special Asset Issues: Assets Shared with Others Debts and Assets At its core, bankruptcy is about debts and assets. You are looking into bankruptcy because you need to manage your debts. Under "straight bankruptcy" this is mostly done by discharging (legally writing off) those of you... Read more
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Protecting Your Retirement in Bankruptcy
Addressing Special Asset Issues: Retirement Benefits Protecting Your Retirement in Bankruptcy Most forms of retirement are protected when you file under any Chapter of bankruptcy. There are a few exceptions to this, so you want to make sure that whatever retirement you have is protected. ... Read more
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Addressing Special Asset Issues
Your Property in Bankruptcy Most people who file bankruptcy do NOT lose anything they own that they want to keep. That's because everything they own is "exempt," meaning that they are all of the types of property that are protected from their creditors when filing bankruptcy. And the value of ea... Read more
