Current Blatt Watch March 31, 2016 Estate Planning: Who Can Be Your Successor Trustee >>>Download One of the major questions legal estate planning clients always ask me is who can be my successor trustee. In Florida there are specific limitations about who can be a…
From the desk of Peter Blatt, J.D., LL.M. At a recent special session of the Northern Palm Beach Country Chamber of Commerce meeting I learned that New York fell behind Florida in economic growth in the private sector jobs. However, New York is constantly bombarding…
From the desk of Peter Blatt, J.D., LL.M. My son David (10) is at sleep away camp for the first time. He is enjoying himself and learning a lot about building relationships, woodcraft, and fishing. He is in Hendersonville, North Carolina and we just received…
Wondering how the fiscal cliff deal affects small business owners? Peter explains it all here in this easy-to-understand, simple article. It’s a must-read for those who aren’t familiar with what the legislation accomplishes for business owners, and where it comes up short!
Change of Law: If you have not updated or created a new durable power of attorney since October 2011 in Florida you need to act as soon as possible. Your old power of attorney may not work!
If you become disabled, who will help you maintain your lifestyle? You need a Durable Power Attorney!
The Durable Power of Attorney statute has been completely modified/ revamped in October 2011.
You have only 150 days left until the new tax laws come into effect. The health care law has been declared constitutional; the remaining provisions will be going into effect. One little known provision is a new 3.8% investment income surtax, also called the health care surtax or the Medicare tax; it will go into effect on January 1, 2013.
This new surtax will be assessed on the lesser of a) net investment income or b) the excess of modified adjusted gross income (MAGI) over the “threshold amount.” For married taxpayers filing jointly, the threshold amount is $250,000; married filing separately, $125,000; all other individual taxpayers, $200,000. For trusts and estates, it is the beginning of the top income tax bracket ($11,650 in 2012).
Why don’t individuals invest like endowments? Because they don’t know how to. Peter Blatt’s insightful article here explains how you too can invest like Harvard.
Blatt Financial Group founder Peter Blatt explains how to avoid the massive estate tax hike that is set to take place come December 2012.