In case you haven’t heard, the New Year brought a new law recently signed by the President. To avoid the country from falling off the “fiscal cliff,” the “American Taxpayer Relief Act” was approved on New Year’s Day. The approval and signing of this new law may affect the future of your estate plan and your estate taxes. Regarding federal estate taxes, this new law makes almost all of the previous tax provisions, commonly known as ”TRA 2010,” permanent, with the exception of the tax rate. This … [Read more...] about We Dodged the Fiscal Cliff – How the New Tax Bill Affects You

There are only a few days left before the clock strikes midnight on December 31st and the tax law changes. Or will it? As of this writing, the law to which it will change will be the pre-EGTRRA/TRA law. In other words, currently in 2012, individuals with estates under $5.12 million are not subject to federal gift or estate tax. However, if this law expires, estates larger than $1 million will become taxable at the beginning of 2013 and we will back to a $1 million applicable exclusion per … [Read more...] about The Estate Tax Ball is About to Drop!

To read Randy's article on how a good estate plan can prevent financial abuse of the Elderly, click here.  BACK TO THE NEWS … [Read more...] about Randy Holmgren Published in Living Well Magazine

To read Randy's article on staying prepared in the face of changing estate tax laws, click here.  BACK TO THE NEWS … [Read more...] about Randy Holmgren Published in Enterprise Newspaper

Randall J Holmgren has also recently published with Thomson Reuters/Aspatore in the book, "Family and Business Succession Planning: Leading Lawyers on Evaluating Recent Trends, Navigating Uncertain Tax Laws, and Developing Creative Strategies for Families and Businesses," 2010 Edition, Inside the Minds series. Holmgren contributed the piece, "Twenty-first Century Business Succession Planning Strategies."  BACK TO THE NEWS … [Read more...] about Randy Holmgren Publishes Book on Family and Business Succession Planning

In 2001, Congress passed a law that made big changes to the estate tax.  It raised the amount that could pass without tax, increasing it in steps from $675,000 in 2001, to $3.5 million in 2009.  Then, in 2010, the estate tax was repealed for one year only-2010.  The same law also said that the estate tax would return in 2011, with estates over $1 million being taxed as high as 55%. However, on December 17, 2010, Congress revised the estate tax with yet another new law: the Tax Relief, … [Read more...] about How the New Estate Tax Exclusion Affects Your Estate Plan

In 2001, Congress passed a law that made big changes to the estate tax.  It raised the amount that could pass without tax, increasing it in steps from $675,000 in 2001, to $3.5 million in 2009.  Then, in 2010, the estate tax was repealed for one year only-2010.  The same law also said that the estate tax would return in 2011, with estates over $1 million being taxed as high as 55%. However, on December 17, 2010, Congress revised the estate tax with yet another new law: the Tax Relief, … [Read more...] about How the New Estate Tax Exclusion Affects Your Estate Plan

If you have a dog, cat or other pet, you know that the unconditional love and affection our pets devote to us improve the quality of our lives in ways nothing else can. This is why they deserve our respect and dedication even after we pass away or become incapacitated. Unfortunately, if a pet owner becomes unable to care for his or her pets they often end up living on the street. Thousands of pets are orphaned every year in the United States. To prevent your pets from adding to this sad … [Read more...] about To My Dog Lucky, I Leave $10,000

We are working to incorporate my blog into my web site, but until then you can visit http://utahestateplanning.wordpress.com/ for the most up-to-date information on Estate Planning.  BACK TO THE NEWS … [Read more...] about Visit Randy Homgren’s Blog for More Information on Estate Planning

Sadly, studies show that most wealth is lost within three generations because heirs are not properly prepared and assets are not protected with an estate plan. If your adult children have no estate plan of their own in place, there are many ways they can quickly lose the hard-earned inheritance you plan to pass on, as well as the one they plan to leave to your grandchildren. Luckily, these are preventable losses through proper estate planning. This report examines why planning for the future … [Read more...] about Grandparent’s Guide to Second Generation Planning