When Americans face financial stress they turn to their retirement accounts for liquid assets. Pensions, 401K plans and 403B plans are where Americans are turning to for quick infusions of cash. In this past year borrowing from retirement accounts hit new highs. It is estimated that more than 15% of all individuals who have money in retirement … [Read more...]
A Gift to Americans From Congress and President Obama
President Obama, in a statesman-like series of decisions, has worked out a compromise with the new Republican majority in the House of Representatives regarding jobless benefits, income taxes and estate taxes. Although some of the President's democratic colleagues did not see eye-to-eye with the President on this issue, in the spirit of … [Read more...]
Wills And Trusts Can Reduce Estate Taxes
Individuals with significant assets can reduce their tax liability upon their death by using sophisticated wills and trusts. In 2010, the wills, trust and estate area is facing a unique situation. For the 2010 calendar year there is no federal estate tax. After 2010, the federal estate tax exemption will go back to one million dollars. Well … [Read more...]
