99 days from today will be the new year. 99 days from today, there will be the significant tax law changes I have previously written about. If you have not Propecia restored look at here purchase cheap levitra my hair fall without any side effects, and you have to try it to prevent side effects resulting from drug interactions. It multiplies the light cialis wholesale india transmission and promotes better viewing. The Roman artist, Ovid, incorporated pine nuts in his catalogue of aphrodisiacs. super active viagra You can find acai extract in many health stores; this can be found as pills or viagra canada mixed into smoothies. reviewed your estate plan in the past few years, then I have $4,120,000 reasons (the transfer tax exemption you will lose) that you should set an appointment for a review.

On January 1, 2013 the federal estate tax is set to reset to the level it was in 2000. The main focus of estate planners is we will be going from a $5,120,000 lifetime exemption to a $1,000,000 lifetime exemption and will see an increase in the tax rates from 35% to up to 55%. But, there are many other considerations that will need to be addressed as well.

For instance, in the pre-2001 and post 2012 law, the federal estate tax has a provision for a credit for state estate taxes paid. In the current law, a deduction is allowed for state estate taxes paid. In Oklahoma, as well as a few other states, the state estate tax was based upon the maximum credit allowed under the federal law. These were commonly called “sop” state taxes because the state would sop up what would have otherwise have been paid to the feds and it did not increase the tax burden on the estate. However, when the federal law changed, most of the states changed their laws, as well. In Oklahoma, the legislature changed the law from being a sop scheme to an estate tax of independent significance (meaning you could be taxed at the state level without incurring a tax at the federal level), and then ultimately repealed the state estate tax altogether.

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All of this does get overly complicated, so the hope for you, as an estate planning consumer, is that you should have a qualified estate and tax planning attorney review your plan to ensure that you have the most tax advantageous set-up as is possible. This will apply even if you have only executed your plan within the past few years because there have been significant changes to the tax laws.

Preparing for the 2013 Tax Year

Above is a link to a Power Point presentation I prepared for an investment group here in Altus. The focus on the presentation is the most significant tax code changes that will take effect on January 1, 2013, and how it will affect most “average” Americans.

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If you have a group where you would like the only specialized tax and estate planning attorney in Altus and southwest Oklahoma to present on these changes, then I would enjoy the opportunity to spread the knowledge. If you have reviewed the presentation and are worried about how you are affected personally, then do not hesitate to give me a call at 318-8829 to discuss some planning options. The first hour of consultation is free.

2012 the year to look at estate planning

You can follow the link above to a short report on why you should have a qualified attorney review your estate plan, be it a will, trust or other types of transfers on death, in the next few months. The weatlh transfer taxes are set to increase significantly in just 3.5 months on January 1, 2013 and if you are caught without an updated estate plan, your loved ones could be stuck with tax rates up to 55% on their inheritance.
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As the only specialized estate and tax attorney in southwest Oklahoma, I would love to have the opportunity to give your estate plan a thorough review and let you know, specifically to your situation, how the tax law changes will affect you and your family.

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