Some people overpay the government...but certainly not our clients!

Why should the government or anyone else direct what happens with your estate assets? 

Why should a court, a stranger, or someone other than your choice make the medical and financial decisions for you if you become sick and incapacitated? 

Why should anyone other than your spouse, life partner, or the one you choose make the decisions about your illness, hospital visits, your funeral and what happens to your estate?

Why can't your pets be cared for appropriately?

For honest, caring and sensitive tax and legal advice

Call Ronald J. Cappuccio, J.D., LL.M.(Tax) 
at (856) 665-2121 today!

Ron@TaxEsq.com

Market declines increase the need for estate plan reviews 

The unified credit amount has increased in 2009 to shelter up to $3.5 million of bequests (up from $2 million in 2006-2008), and the annual gift tax exclusion rose to $13,000 (from $12,000 in 2006-2008). This good news means that taxpayers can transfer more of their wealth to their loved ones free of gift and estate tax. The bad news, however, is that many taxpayers have less wealth than they did a couple of years ago because of declining financial markets, real estate values and business volume. 

Financial reverses justifiably make taxpayers, especially retirees, nervous about the need to alter their lifestyles, and this includes changing their gift-giving and even testamentary plans. For those at the "lower levels" of affluence (i.e., net worth of a few million dollars), an estate planning review can be especially important to align estate plans with updated realities. 



Estate Tax is Back Again!
The House and Senate each approved a Fiscal 2010 Budget Resolution which keeps the Federal Estate Tax into 2010. 
President Bush and Congress set-up Estate Tax Reduction in 2001 with a planned elimination in of the estate tax  on January 1, 2010.
The house and Senate passed budget resolutions that conforms with President Obama's goal of re-instituting the Estate Tax.  The 
estate tax exemption amount will be frozen at  $3.5 million for single taxpayers and $7 million for married couples – the same rule that 
applies in 2009 under the Bush legislation. In addition, the Obama Administration has called for indexing the exemption amounts for
inflation beginning in 2010. Congress must actually pass legislation to enact the tax changes.   May, 2009
  

Estate and Legacy Tax Planning!If your estate is $10 million or less estate planning should be redefined and take on the broader characteristics of
legacy planning. This includes reducing taxes now and for your estate, transferring assets to your family and taking care 
of your business. ....More

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