What 199A Regulations Mean for Your Clients

Tax-Saving Opportunities for Business Owners Are any of your business-owning clients curious about the new Section 199A deduction? Although the deduction became effective on January 1, 2018, guidance on how it would be calculated was delegated to the Internal Revenue Service (IRS) by Congress. For months, financial and tax professionals have speculated about various aspects of this new deduction since Congress gave us little concrete…

Taking Full Advantage of the 2017 Tax Cuts and Jobs Act

Key Points to Discuss With Your Clients Like all things, tax laws are constantly changing. An important part of serving your clients is responding quickly and strategically to new developments in the tax law landscape. But at the same time, a knee-jerk reaction is rarely the best course of action—often resulting in unforeseen complications in the future. The best decisions are made by professional teams…

How Tax Reform Will Impact You and Your Estate Planning

In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This Act contains significant changes that will impact your estate planning and income tax situation going forward. Estate Tax Changes Starting January 1, 2018, the estate, gift, and generation-skipping transfer (GST) tax exemptions double from $5 million to $10 million (adjusted for…

Last-Minute Opportunities Before the New Tax Law Takes Effect

(Below is an article about last minute planning considerations in light of the new tax act written by my colleague Andreea Olteanu, JD of WealthCounsel.) With 2017 coming to an end and sweeping tax reform legislation (Act) having been signed into law, some last-minute opportunities should be considered while the current law still applies. There are steps that taxpayers can take before the Act takes…

Have You Considered a Dynasty Trust for Your Family’s Estate?

Why You Should Think Twice Before Ruling One Out When most people hear the term “dynasty trust,” they assume it’s something for only the wealthiest of families. However, dynasty trusts are not as out of reach as you might think, and can be used by many more families of a greater wealth spectrum than currently use them. Demystifying dynasty trusts Dynasty trusts keep your wealth…

How to Pick a Trustee, Executor, and Agent Under a Power of Attorney

While the term fiduciary is a legal term with a long history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, executors, and agents are all examples of fiduciaries. When you pick trustees, executors, and agents in your estate plan, you’re picking one or more people to make decisions in your and your beneficiaries’ best interests and…

ATTORNEY PAUL BERNSTEIN RECEIVES BOARD-CERTIFICATION AS AN ESTATE PLANNING LAW SPECIALIST

Attorney Paul Bernstein is newly Board-certified as an Estate Planning Law Specialist (EPLS) by the Estate Planning Law Specialist Board, Inc., the only such certification accredited by the American Bar Association. Attorney Bernstein joins a select group of 75 attorneys nationwide, and is one of only two in Massachusetts, to have obtained the EPLS Board-certification. To become Board-certified as an Estate Planning Law Specialist (ELPS),…

National Estate Planning Awareness Week, October 17-23, 2011

The Bernstein Law Group Joins Colleagues in Promoting National Estate Planning Awareness Week, October 17-23, 2011 Salem, MA, Oct. 18, 2011 – Paul Bernstein, Esq. of the Bernstein Law Group announced today that he is joining his estate planning colleagues in a public relations campaign to showcase National Estate Planning Awareness Week, October 17-23, 2011. According to a 2010 industry trends survey of estate planners,…

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