Blog Archives

Why Parents Should Not Give Their House to Their Children

Frequently, parents will be encouraged to give their home to their children so the government won’t take it to pay any nursing home bills.  This is usually very bad advice.  Why is this not an appropriate strategy?


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Don't Look Now…Tax Rates are Headed Up!

The Bush era tax cuts are expiring.  Here are some of the key tax rates for 2010 and 2011: 2010                 2011 Ordinary Income                                   35%                 39.6% Long Term Capital Gains                       15%                 20% Qualifying Dividends                             15%                 39.6% Estate Tax                                              0%                 55% Unless Congress decides


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Happy 75th Birthday to the Social Security Administration

Blow out the candles and cut the cake, the Social Security Administration (“SSA”) is celebrating its 75th birthday! I recently attended a presentation by one of the Social Security representatives.  If you get a chance to attend one of these sessions,


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Why I Asked My Son to Give Me a Power of Attorney

Recently my son turned 18.  In Connecticut this is considered the age of majority.  In other words, he can make his own decisions.  Well, that’s what the law says.  However, he’s still living under my roof, so he’s got to


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$4 Billion in Estate Taxes not Paid…Yet!

Mr. Dan Duncan passed away in March of this year.  It is estimated his net worth was $9 billion, making him one of the top 100 most affluent people in the world.  A self-made man, he amassed his fortune in


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