The purpose of the panel meetings is to discuss and make recommendations regarding the acceptability of taxpayers’ appraisals of works-of-art. If the Panel recommends rejection of a taxpayer’s appraisal, it may also recommend a different valuation, the securing of additional information or consultation with a specialist. Beauty of art may be in the eye of […]

The new tool, developed by researchers from Italy’s University of Milan, could provide doctors with a more objective method that gauges the complexity of a patient’s consciousness. Advances in brain science keep us informed and help us better understand how the brain functions. And when it comes to making end-of-life plans, the more we know […]

The number of adults caring for someone with a serious health problem is on the rise and is likely to continue growing as the population ages. It is not uncommon for someone to take on the task of caring for an aging parent or relative in their elderly years. But what are the true costs […]

Men and women who find themselves suddenly single in midlife need to plan carefully and make thoughtful decisions about such things as how to divide up assets and the best ways to handle the money they’ll receive. Divorce is messy. Period. This is especially true when your retirement or your estate are up for grabs. […]

Now the death-tax debate has shifted to state capitals, with mixed results depending on which party runs the state. Prior to 2001, states could impose an estate tax of up to 16% with no extra burden on their residents because a federal tax credit offset state estate taxes. That policy has ended and now state […]

Don’t be surprised if your CPA or financial planner starts babbling acronyms: CRUT, CRAT, NICRUT, NIMCRUT, Flip CRUT. Hear him out. The higher federal tax rates that kicked in this year have given all these variants of the four-decade-old charitable remainder trust new appeal for upper-income folks. Charity doesn’t always mean a one-way act of […]

Two years ago, Mr. Harris couldn’t scrape together enough funds to start a business that delivered healthy meals. So, he decided to approach his mother for an early bequest. The money would be coming to him anyway, he figured, and she would be able to see him put the cash to good use. As an […]

Money and taxes aside, here are 7 good reasons you need an estate plan… Estate planning is not just about taxes. While it is too easy to focus on taxes, namely avoiding heavy taxation, there is far more to consider when making your own estate plan. Estate planning is truly an activity of planning for […]

Use this versatile account to get tax-free income and a whole lot more. If you are used to a traditional IRA, the Roth IRA may seem peculiar at first when it comes to retirement accounts. So here’s a brief refresher on all the perks of the esteemed Roth IRA. A recent Kiplinger’s article, titled “Why […]

Should it be maintained for close relatives? Will the next generation use it together or separately? Is it the site of family reunions? If not, will it be available to friends or even renters? Few places prove to be so powerfully uniting for a family as the family vacation home. Cabins, beach houses, you name […]