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What do Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania all have in common? These six states are the only states to collect an inheritance tax. In addition to an estate tax, these states tax the transfer of wealth to the beneficiary. And the results can be severe. Many Maryland estates will be affected by the […]

The late actress Anne Heche committed the cardinal sin of estate planning. She had not executed a will. Heche died after her car crashed into a private home leaving her estate in disarray. Shortly after Heche’s death, a legal dispute arose between her 20-year-old son Homer Laffoon and her ex-partner James Tupper (and father of […]

Good Tax News! Positive news from the Internal Revenue Service is like the 1972 song by Climax, “precious and few.” Yet, we had such news recently. The Federal government taxes transfers of wealth but for intra-spousal transfers. These taxes are separate from and in addition to income taxes, unemployment taxes or Medicare taxes. The transfer […]

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