Friday, December 23, 2011

FileLocator Lite - Free File Searching Utility

FileLocator Lite - Free File Searching Utility (JEH: Especially for Windows 7 users (no "classic" search tool), this is an amazing program. You can see dates modified, created, and accessed. You can also export/print search results. Take a look at their customer list if you want more "recommendations": You're in very good company! (including Boeing, Cisco, FedEx, NASA, VISA, etc.))

Friday, December 9, 2011

Estate Tax Exclusion to Rise: IRS Inflation Adjustments for 2012

Estate Tax Exclusion to Rise: IRS Inflation Adjustments for 2012 - (JEH: Due to the automatic inflation adjustment of the federal transfer tax exemptions as part of the 2010 tax act, the $5 million exemption available during 2011 and 2012 -- but perhaps not beyond -- will actually be increased as of 2012)

Wednesday, December 7, 2011

With Higher Taxes Looming, Are Your Clients Ready?

With Higher Taxes Looming, Are Your Clients Ready? - Ed McCarthy, CFP® (Journal of Financial Planning, Nov. 2011) (JEH: I have posted several other links on this blog during the last few months that highlight estate planning opportunities under the 2010 tax act. For anyone with assets valued in excess of $1 million but less than $5 million (and certainly beyond that), or twice those amounts for married couples, more advanced planning such as qualified personal residence trusts, "intentionally-defective" grantor trusts, charitable lead trusts, and similar techniques should be considered. Most commentators agree that Congress will not likely reduce the now reunified gift, estate, and GST exemption to $1 million per person, which will occur as of 2013 without additional legislation, but no one knows what the "compromise" will be. Nearly all commentators are recommending the use of the above (and other) lifetime techniques that utilize the unprecedented $5 million per person exemption. Unfortunately, if you live in Connecticut or Tennessee, you have to deal with a state-level gift tax in addition to the federal rules. Please browse my posts over the past five months (from June 2011 to present) to obtain numerous summaries with more detailed information. For practitioners, please join me at the Heckerling Institute on Estate Planning, which I have attended nearly every year since 1999 and which will extensively cover these topics. Our American Bar Association group will also be reporting on and summarizing the Institute's proceedings, which will be available here.)