Texas Billionaire Dies, No Estate Tax

Texas billionaire Dan Duncan died in March of 2010.  He saved his family billions of dollars in estate taxes by passing away this year, the first year since 1917 when there has been no federal estate tax. Almost 10 years ago, Congress passed a bill “phasing out” the estate tax and setting this year as… Read More »

The Third Prong Of Estate Planning: Beneficiary Protection

I previously talked about the first two prongs of estate planning — incapacity planning and wealth transfer.  In my experience, most clients focus on the “wealth transfer” part.  That is, how do I get my “stuff” to my loved ones after I die in the smoothest, most cost-effective way.  Many clients don’t know that their… Read More »

The Second Prong Of Estate Planning: Wealth Transfer

Last blog, we covered the first prong of estate planning — “incapacity planning”.  In this blog, we look at the second prong of estate planning  – “wealth transfer”.  The question you need to ask yourself (and ultimately answer) is:  “How do I transfer my assets to my loved ones in the most cost-effective, efficient way?”… Read More »

Estate Tax death creating chaos in estate planning

WEST MICHIGAN — With headlines like ‘Welcome to Bizzaro World’ in the normally staid publication Estate Planning, there is every indication that the world of estate planning has been turned on its ear. It’s not that no one saw it coming. When Congress approved the Economic Growth and Tax Relief Reconciliation Act of 2001, the… Read More »