16th Sep 2014

So you have this thing called an ILIT or Irrevocable Life Insurance Trust.   You know it has something to do with insurance, gifts, and keeping insurance proceeds out of your estate.  But in truth, you really have no idea how … more

15th Sep 2014

One of the most complex areas of tax law is the issue of passive income and passive losses vs. active income and active losses.  There isn’t enough coffee or Red Bull in the world to not fall asleep trying to … more

11th Sep 2014

The answer to that is when you know or suspect a problem.  Do not wait for the IRS or state tax authority to come knocking.  Address it head on by seeking professional advice as soon as possible. Take the illustrative … more

8th Sep 2014

Many years ago when estates larger than $650,000 could be subject to Federal estate taxes, everyone and their uncle had an irrevocable life insurance trust (ILIT).  For those of you not familiar with the ILIT, it is an irrevocable trust … more