January 11, 2011
Filed under: Federal Estate Tax — Christopher J. Berry @ 9:52 pm
With all this Federal Estate Tax discussion the past few weeks, there was an interesting article in the NY Times asking if the Federal Estate Taxes even mattered? You can read the article at Do Estate Taxes Matter?
Filed under: Elder Law,Veterans Benefits — Christopher J. Berry @ 1:36 pm
For many Michigan Veterans and their families, the Veterans Benefit known as Aid & Attendance is a confusing program to navigate with unpublished rules and limits to qualification. However, if you can properly navigate the VA Pension program there can be a huge benefit for the Michigan Veteran and his or her family.
For this reason we created the Michigan Elder Law Center, which has a wealth of information for Michigan Veterans as well as a VA Longterm Care Booklet for veterans.
Filed under: Federal Estate Tax — Christopher J. Berry @ 1:25 pm
With the new estate tax rules that have ben recently passed the estate planning world is waving goodbye to one acronym and welcoming in a few more. Good by to EGTRRA, which was the Economic Growth Tax Relief Reconciliation Act that was signed into law by George W. Bush in 2001.
Now we have TRUIRJCA, TRA, and DSUEA.
TRUIRJCA stands for the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act. This is the official name of the temporary Federal Estate Tax law that for two years extends and modifies the Bush era tax cuts.
The next key acronym is TRA, which some are using as an abbreviation for TRUIRJCA. TRA stands for Tax Relief Act. Julie Garber who wrote a blog post TRUIRJCA, TRA, and DSUEA-New Estate Planning Acronyms You Need to Know Now, much prefers TRA over TRUIRJCA.
The last key acronym is DSUEA, which stands for Deceased Spouse’s Unused Exemption Amount. This acronym refers to the new portability concept included in the new rules.
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