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About Mark Bregman

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So far Mark Bregman has created 67 blog entries.

President Obama’s So Called Trust Fund Tax Proposal

I usually refrain from commenting about proposals making changes to the tax code that, in my opinion, have no chance of passing in the current Congress.  But I am making an exception in this case because within the majorly flawed proposal is a kernel of truth that is intriguing. As background, you should be aware [...]

2020-07-31T09:59:14-07:00Tax News|

Inherited IRAs May be Fair Game for Creditors

In Clark v. Rameker, the United States Supreme Court recently (June 2014) decided that inherited IRAs were not entitled to bankruptcy protection under the federal bankruptcy code. Although inherited IRAs continue to remain protected in bankruptcy under the Arizona exemption laws, many descendants inheriting IRAs from Arizona decedents may live outside Arizona and their inherited [...]

2020-07-31T10:08:14-07:00IRAs|

New Perils of Arizona Beneficiary Deeds

I first wrote about using an Arizona beneficiary deed to avoid probate on November 13, 2012. A recent decision of the Ninth Circuit Bankruptcy Appellate Panel reveals a major shortcoming that should affect the popularity of beneficiary deeds.  In Jones v. Mullen, BAP No. AZ-12-1644-DPaKu, the panel decided that the debtor’s interest in real property [...]

Expiring Tax Cuts and New Taxes

As of January 1, 2013, the Bush era tax cuts will expire and whether we go over the fiscal cliff or not, there are issues of concern to all investors, including retirees. The 15% tax rate on dividends will expire and recipients will pay tax on those dividends at their marginal tax rate up to [...]

2017-12-01T16:26:23-07:00Tax News|

End of the Year Notes – Gifting

Much has been written about strategies for taking advantage of the historically unprecedented $5,120,000 exclusion from gift taxes that is available for gifts during 2012.  Time is running out on the ability to make and document such gifts before the end of the year. Of course the furor is all about what happens if the [...]

2020-07-31T10:22:50-07:00Miscellaneous|

Should I Use A Beneficiary Deed?

Arizona was the first state to recognize beneficiary deeds as a method of transferring property at death.  At the time this article is written, Arizona has been joined by 16 other jurisdictions and the list is growing larger.  Why is it so popular? A beneficiary deed allows you to retain ownership of your property [...]

2020-07-31T10:24:13-07:00Estate Planning|

What Is Probate?

Probate  is the court process by which a Last Will and Testament is proved valid or invalid. Its name is derived from a Latin root word that means “the truth.”  It is also the legal process whereby assets of a decedent are administered.  “Administration” means finding, collecting, and distributing assets in kind or after liquidation [...]

2020-07-31T10:24:22-07:00Probate|

Trouble Ahead For Single Members LLCS (SMLLCS)?

A primary reason for forming an LLC is to protect a client’s other assets from liabilities arising from the business of the LLC.  That protection may now be at risk. For some time, practitioners have been alert to the limitations in some states of the protection afforded to assets held in a SMLLC even when [...]

2017-12-01T16:26:23-07:00Uncategorized|