For people dying in 2011 and 2012, the exemption amount for paying no federal estate taxes has been increased from $3.5 million to $5 million. The gift tax exemption amount and generation-skipping exemption amount has also been increased to $5 million. The tax rate for estates above $5 million for all three taxes will now be 35%. … Continue reading Updates to Federal Estate Tax Law (2011)
My husband is a registered nurse and came home with this story. Patient came into the hospital with cardiac problems and is now intubated. The question for the doctors and nurses now is " Who is empowered to make medical decisions on behalf of the patient?" He was married but is now divorced. He has an… Continue reading Is a Will enough?