Several personal finance books aimed at women landed in my mailbox recently. They were hard to miss. The books had pink covers and the catchy, if cringeworthy, titles, “Shoo, Jimmy Choo!” and “Hot (Broke) Messes.” And then there was the one I found on Amazon, “A Purse of Your Own.”
The titles may seem better suited for the cover of Glamour magazine. But that doesn’t mean women don’t face special financial challenges. Women live longer, earn less and take more breaks from the workplace to care for children and elderly parents. And though studies show that women tend to save a slightly higher percentage of their paychecks then men, they ultimately end up with smaller balances because of their lower earnings.
Does that mean women need specially tailored financial advice?
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Saturday, April 24, 2010
Saturday, April 17, 2010
ESTATE TAX JACKPOT 2010 - Oil Magnate’s Death Costs U.S. Millions in Foregone Taxes
When rich people pass away, they often get prominent obituaries. This year, they will get special arbituary - compliments of the 2010 estate tax!
As readers of my blog know, the estate tax expired at the end of 2009 and will take the year off before coming back in 2011. That means wealthy people who pass away in 2010 don’t pay any estate tax.
So it is with extra interest that we note the death of Dan Duncan, the gas-pipeline tycoon who Forbes pegged as the 74th richest man in the world. He passed away in March at age 77. His estate was valued at an estimated $9 billion. That made him the first billionaire in this country to die without an estate tax in nearly 100 years.
It also means the U.S. just lost out on millions of dollars in foregone revenue because no estate tax was in place. All because Congress couldn’t agree on a new estate tax.
Nobody in Congress really expected a billionaire of Dan Duncan’s caliber to die this year without significant estate protection already in place. In fact, the Congressional Joint Committee on Taxation estimated last year that restoring the estate tax at 2009 levels would have only added about $468 million to the federal government’s 2010 revenue.
Of course, it is highly unlikely that Mr. Duncan was going to leave his entire $9 billion estate subject to the tax. He was a big philanthropist and most likely had bequests to charity in his will.
I think that if his advisors were up to the job, the bulk of his remaining wealth was probably held in irrevocable trust or tax shelter entities. Still, he did have hundreds of millions of dollars tied up in businesses, so that could have been taxed.
For all my readers out there - do your ESTATE PLANNING now! It doesn't look like you will get a windfall of 2010 and I feel that next year the exemption on Estate Tax will go back to the initial $1 million mark.
As readers of my blog know, the estate tax expired at the end of 2009 and will take the year off before coming back in 2011. That means wealthy people who pass away in 2010 don’t pay any estate tax.
So it is with extra interest that we note the death of Dan Duncan, the gas-pipeline tycoon who Forbes pegged as the 74th richest man in the world. He passed away in March at age 77. His estate was valued at an estimated $9 billion. That made him the first billionaire in this country to die without an estate tax in nearly 100 years.
It also means the U.S. just lost out on millions of dollars in foregone revenue because no estate tax was in place. All because Congress couldn’t agree on a new estate tax.
Nobody in Congress really expected a billionaire of Dan Duncan’s caliber to die this year without significant estate protection already in place. In fact, the Congressional Joint Committee on Taxation estimated last year that restoring the estate tax at 2009 levels would have only added about $468 million to the federal government’s 2010 revenue.
Of course, it is highly unlikely that Mr. Duncan was going to leave his entire $9 billion estate subject to the tax. He was a big philanthropist and most likely had bequests to charity in his will.
I think that if his advisors were up to the job, the bulk of his remaining wealth was probably held in irrevocable trust or tax shelter entities. Still, he did have hundreds of millions of dollars tied up in businesses, so that could have been taxed.
For all my readers out there - do your ESTATE PLANNING now! It doesn't look like you will get a windfall of 2010 and I feel that next year the exemption on Estate Tax will go back to the initial $1 million mark.
Monday, April 12, 2010
Празднование 62-й годовщины основания Израиля - в Manhattan Beach Jewish Center
Уважаемые господа! Я, адвокат Инна Ферштейн, член совета JCH of Bensonhurst, рада пригласить всех и каждого из Вас (вместе со своей половинкой) на незабываемое мероприятие, которое я организую в Manhattan Beach Jewish Center - празднование 62-й годовщины основания Израиля, изюминкой программы которого станет выступление полковника ЦАХАЛа (Армии обороны Израиля) Бенци Грубера.
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Wednesday, March 17, 2010
FREE ESTATE PLANNING CONFERENCE at Kings Bay Y, Brooklyn NY on June 16, 2011, at 6pm
The Law Offices of Inna Fershteyn will host TRUST and ESTATE SEMINAR:
Common Mistakes in Estate Planning:
June 16, 2011 6 PM, King Bay Y
To register, call Law Office of Inna Fershteyn at (718) 333-2394.
For more information, please visit our website
Trust and Estate Planning Law Firm of New York
Common Mistakes in Estate Planning:
June 16, 2011 6 PM, King Bay Y
To register, call Law Office of Inna Fershteyn at (718) 333-2394.
For more information, please visit our website
Trust and Estate Planning Law Firm of New York
Monday, March 8, 2010
Obama's Health Reform news
Over the past year the House and the Senate have been working on an effort to provide health insurance reform that lowers costs, guarantees choices, and enhances quality health care for all Americans.
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