Strauss & Associates, P.A.
The Strauss & Associates Blog
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Planning Opportunities Available to Affluent Families
Posted on: January 24th, 2012
With the $5.12 million per person federal tax exemption ($10.24 million for married couples), most of the estate planning “talk” these days has been on the planning opportunities available to wealthy families. However, the need for estate planning affects everyone!
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70 percent of intergenerational wealth transfers fail
Posted on: January 20th, 2012
Recently, a Forbes article claimed that "70% of intergenerational wealth transfers fail." This conclusion was reached in a new Williams Group study examining the long-term effects of wealth transfers in 3,250 families. According to the study, "Failure" means situations where the heirs wasted wealth, often with the family assets becoming a source of fighting and family discord....
Financial Power of Attorney
Posted on: January 16th, 2012
As you begin the process of estate planning, one of the considerations you should make it who you would like to handle your affairs and make decisions on your behalf if you become unable to do so for yourself. Some of the tools available to do this include living wills and various powers of attorney, such as a durable health care power of attorney and a financial power of attorney...
Pre-Need Funeral Contracts — What You Need to Know
Posted on: January 16th, 2012
Most, if not all, funeral homes offer pre-need funeral arrangements. Pre-need simply means you pay for your funeral arrangements in advance.
The allure of the pre-need arrangement is the sense of security it provides to those who wish to leave as little of a burden as possible on their loved ones...
What are Conservation Easements?
Posted on: January 12th, 2012
What would a conservation easement do for me?...
Donating Your Body to Medicine
Posted on: January 3rd, 2012
As part of your estate plan, you may want to leave instructions in your will to your loved ones to donate your body to medicine. There are many important reasons to donate your body to medicine. Your donation can be used to:
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Do I have to file Gift Tax returns for the gifts to my Insurance Trust?
Posted on: December 13th, 2011
Filing a gift tax return for an ILIT, even if not technically required because all gifts are below the annual exclusion, is a good idea....
No Super Committee Action: Now What?
Posted on: December 6th, 2011
Now that the so-called 'super committee' failed to agree on spending cuts and/or revenue gains to reduce the deficit, what's next? What does this mean for the estate and gift tax law?...
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