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  As part of my day job I review a lot, and I mean a lot of Wills. Most Last Wills and Testaments are structured the same way; all assets are left to the surviving spouse and upon the second death to the children, outright. This type of structure is usually referred to as a Continue reading What Type of Will Do You Have? Review of a Simple Will September 1st, 2010 | Tags: Estate Planning, Simple Will, trusts | Category: Estate Planning | One comment
Do you have a Living Will and a Health Care Proxy? As I drafted a Last Will and Testament tonight, I thought to myself do people understand what these ancillary documents are, or better yet, do people know they even exist? While the documents themselves aren’t entirely difficult to understand, the Continue reading Your Health Care Documents are Often Forgotten When Creating A Will April 27th, 2010 | Tags: Estate Planning, Health Care Proxy, Living Will | Category: Ancillary Documents | 5 comments
Irv Blackman is an experienced CPA and lawyer who specializes in estate planning, business succession and asset protection.. He is the founding partner of Blackman & Kallick, the largest independent CPA firm in Illinois. He is the founding Chairman of the Board of New Century Bank, Chicago. Irv has authored 8 books, and his Continue reading What is the Estate Tax Trap High Net Worth Individuals Fall into? January 11th, 2010 | Tags: Estate Planning, Estate Taxes, guest post | Category: Estate Planning | 8 comments
As we get into the holiday season people start to feel charitably inclined, and yes you could just drop some coins with the unenthusiastic guy with a bell, give a $20 spot at church, or write a check…but what if there was a bigger bang for your proverbial buck? Over the next couple weeks Continue reading Advanced Charitable Giving using Life Insurance December 8th, 2009 | Tags: charitable gifting, charity, Life Insurance | Category: Advanced Charitable Gifting | Leave a comment
 In a vote closer than I expected the house passed, an Estate Tax Bill! For all intents and purposes the bill freezes the Federal Estate Tax (Remember State Estate tax is different) so that every U.S. Citizen has a $3,500,000 exemption and anything above that amount is effectively taxed at 45%. The Bill passed 225 Continue reading The House Passes Estate Tax Bill to Freeze Current Exemptions and Rates 
Most people just assume they can give away whatever they want in any situation; that is just not true. Ignoring gifting laws and taxes can cost you and your family a lot of money! When gifting large sums of money there are federal tax implications one should keep in mind. Gift Tax Introduction What Continue reading Gift Laws and Taxes Made Simple 
Even those with strong charitable intents (religious or otherwise), actually fail to provide for the charities of their choice at death. In essence their charitable intent is often ignored, and it is usually by mistake! I was reading a Last Will and Testament of a high net worth client the other day, and Continue reading Don’t Accidently Forgo Your Charitable Intent at Death Regardless of whether you know it or not you have a Will – the Will is called Intestate Distribution and is determined by the State Legislature. When one dies without a Will it is often said he or she died intestate, and their Will enters Intestacy. I am sure different parts of the country Continue reading What is Intestacy? Don’t Let the State Determine Where your Assets Go! Advantages of Using a Prepaid Credit CardThere are many benefits to using a prepaid credit card. A prepaid credit, also known as a secured credit card is defined by bank rate as a credit card that, “…requires a cash collateral deposit that becomes the credit line for that account.” Continue reading Why Use a Prepaid Credit Card? |
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