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Louis Pashman has been an attorney for more than 40 years, but sometimes his job requires him to be a bit of a family therapist, and convince clients to talk about two subjects they would rather avoid - death and taxes.
Pashman is co-founder of Pashman Stein, a 22-attorney firm based in Hackensack. Among his specialties are estate planning and succession planning for business owners. Sometimes the toughest task is convincing a businessman that he needs to have a plan. Avoiding the topic is human nature, Pashman said. "None of us want to acknowledge our own mortality," he said. And "you know you may have to make some unpleasant decisions." But those willing to address the topic can do things, such as purchase insurance policies, that will help when the day comes when a founder dies and n...
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BUT IN THIS WORLD nothing can be said to be certain, except death and taxes," are Ben Franklin's famous words. It's almost like he was watching the presidential election and economic meltdown along with all of us last fall. It's obvious the money America needs now is going to have to come from somewhere - and Americans are wellknown for getting the country out of pinches. It only seems as if the government consistently gets us into them.
Looking the part, being protected, and customizing the machine will always remain part of the experience. In fact, there remains truth to the old adage "Harley Davidson doesn't really sell motorcycles - they sell a lifestyle." Oh! And the motorcycle they happen to build is a necessary part of that "kit" you need along with the chrome and the outfit in ...
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Hawaii Enacts Favorable Changes to Domestic Asset Protection Trust Legislation and Connecticut, Ohio, and Maine Revise or Eliminate Their State Death ...
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Tax-cut vote on hold in Washington The White House and Democratic leaders in Congress have said they would find a way to extend middle-class tax cuts after the November elections, unable to secure GOP backing before lawmakers break to campaign. House Speaker Nancy Pelosi, D-Calif., had suggested that a vote could be held before lawmakers leave town for the elections. But her deputy, Majority Leader Steny Hoyer, of Maryland, said holding a vote wouldn't matter because the legislation is still languishing in the Senate under GOP objections. Both parties are using the delay in a vote on the fate of the George W. Bush-era cuts as political ammunition this election season. Democrats think the climate for compromise will improve after the election. They still will need at least one Republ...
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In the waning weeks of 2009, Congress failed in its attempts to extend the federal estate tax rules for persons dying during 2010 and later years. In brief, the "sunset" provisions of the Economic Growth and Tax Relief Reconciliation Act are now in effect. The federal estate tax is repealed for one year (2010), but is scheduled to return with a vengeance in 2011, based on the rules in effect prior to 2001 ($1 million exemption amount and top tax rates approaching 60%). Keeping tabs on all 50 states death taxes is a never-ending task. As of Jan 1, 2010, 13 states plus the District of Columbia, have some form of estate tax for deaths occurring in 2010. The need for effective estate planning, particularly the role of permanent life insurance, continues to burn brightly, despite the uncerta...
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When the fat in county budgets gets trimmed to the bone, only muscle and vital tissue remain. That's the situation in which many, if not most, countie...
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By Jimmy Zanor Special to the Register
CROMWELL -- The Morgan volleyball team's annual coronation as Shoreline Conference champion has reached a degree of certainty that is giving old staples 'death and taxes' a run for their money.
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Are "Death Taxes" Dead? The short answer is it depends on where you live. It also depends on Congress.
Death Taxes," also known the Federal Estate Tax and Federal Generation Skipping Tax, were repealed for descendants dying in 2010. It is important to remember that there may still be state "death taxes" in 2010 depending on the person's state of residence.