Monthly Archive for August, 2010

Q: The repeal of the estate tax and the loss of the step up basis.

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The Economic Growth and Tax Relief Reconciliation Act of 2001 provides an exclusion of the federal estate tax for estates valued at or less than the applicable exclusion value for the year of death. In 2009 that exclusion was $3.5 million. Therefore, if your estate was valued under $3.5 million, there would be no estate […] [Read More]
Categories: General

The Charitable Remainder Trust-Part 2

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In Part-1, I discussed the basics of setting up this type of Trust, and reviewed some of the important features of a CRT. Below are some answers to the most popular questions my clients ask about this type of Trust. “How does a Charitable Remainder Trust make a difference?” If they transfer title to the […] [Read More]
Categories: General

The Charitable Remainder Trust-Part 1

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In this column, I will describe the basics of the Charitable Remainder Trust. In part 2, I will follow up with answers to the most asked questions regarding the benefits and regulations of this type of Trust. If you own a highly appreciated asset (such as stocks, real estate or a business) — and if […] [Read More]
Categories: General