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Social Security Administration Releases Key Figures for 2010

Posted on January 13, 2010 by

The Social Security Administration (“SSA”) recently released key figures for 2010 that will affect all elderly and disabled individuals who receive program benefits, including social security benefits, supplemental security income benefits, and Medicare benefits. This notice summarizes the changes and their impact on various benefits. Social Security Retirement As many seniors already know, there will […]

Questions and Answers Concerning Status of Federal Estate Tax

Posted on December 29, 2009 by

In 2001, Congress made changes to the federal estate, gift, and generation-skipping transfer tax laws. To satisfy a procedural requirement in the Senate, the 2001 law contained a “sunset” provision, meaning that it would expire at the end of ten years, at which time the provisions of the law in effect in 2001 would be […]

FLASH: Congress Acts On Estate Tax Changes (but don’t get too excited yet)

Posted on December 7, 2009 by

Last week, by a vote of 225 to 200, a permanent extension of the 2009 federal estate tax law was passed – by the House of Representatives. We want to caution our clients that what was passed is NOT the end of the story – but only the beginning of the end of the story. […]

Now is One of the Best Times to Maximize Your Estate Plan

Posted on April 21, 2009 by

If your assets, including life insurance proceeds and retirement assets, are close to or worth more than $3,500,000, you have very attractive estate planning opportunities because of the rare convergence of the following three events: Depressed asset values; Historically low interest rates; and The potential for a limited time frame to continue receiving valuation discounts […]

Wisconsin Implements New Medical Assistance Rules

Posted on January 13, 2009 by

Medicaid is a joint federal and state program, known as Medical Assistance in Wisconsin, which provides health care coverage to financially eligible individuals. It is the only program that pays for long-term nursing home care. Federal legislation, effective February 8, 2006, and adopted by Wisconsin, effective February 1, 2008, changed many important aspects of Medical […]

Suspension of Required Minimum Distributions for IRA Owners and Qualified Plan Participants

Posted on December 29, 2008 by

In an effort to minimize tax and financial burdens associated with IRAs and certain retirement plans (1) in current market conditions, Congress recently passed, and on December 23, the President signed into law, the Worker, Retiree, and Employer Recovery Act of 2008 (the Act). Two components of the Act, which are summarized below, provide IRA […]

New Case Illustrates Importance Of Proper Trust Drafting

Posted on December 22, 2008 by

The Wisconsin Court of Appeals recently determined that the assets within an irrevocable trust (a type of trust that cannot be revoked or amended by the person who creates it) were available to the trust-maker and had to be used for nursing home and related long-term care expenses. The case underscores the importance of having […]

If You Would Like to Know Whether Your Bank Deposits are Protected by FDIC Insurance, Read This E-Alert

Posted on November 17, 2008 by

In light of the financial troubles in the U.S. market, many individuals are concerned about the security of assets they have deposited at financial institutions. The FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government that protects you against the loss of deposits if an […]

Charitable Giving Provisions for Individuals in the Pension Protection Act of 2006

Posted on October 19, 2006 by

The Pension Protection Act of 2006 contains important provisions designed to encourage charitable contributions by individuals. At the same time, Congress was concerned about reining in what it perceives as abuses of the charitable contribution deduction, so the Pension Act contains a number of restrictions on your ability to obtain a deduction for donations of […]

Who Should Be Trustee?

Posted on March 1, 2001 by

Many people think of trusts as stodgy legal documents used primarily for leaving money to heirs. But the truth is that trusts are much more than that. Trusts can be used for a broad variety of purposes, from charitable gifting to reducing your taxes. A trust is simply a formal agreement that assigns ownership of […]