Sunday June 25, 2017
News
Do You Have a Difficult Family?
A businessman with a $2.5 billion estate passed away in 1976. He was single and many individuals, mostly unrelated to him, filed more than 40 wills with the probate court. Not surprisingly, the individuals who submitted these wills hoped to become beneficiaries of a large portion of the estate.
Twenty-two cousins fought with all of the other individuals claiming a share of the estate. In the end, each will was ruled invalid and 22 cousins plus the federal government divided up the estate.
Your estate may not be worth $2.5 billion but if you...MORE
IRS Supports Simplified Tax Code
On June 21 IRS Commissioner John Koskinen spoke at the IRS Tax Policy Center Joint Research Conference in Washington. He explained that as IRS Commissioner, he is regularly asked his opinion about tax reform.
Koskinen stated, "I have had people asking me whether the IRS might resist significant tax simplification, and actually the opposite is true. No one would be more delighted with a more simplified tax code than IRS employees. There are many significant benefits on the administrative side if the code itself were simplified as much as possible . . . making life easier for taxpayers, and it is a message we are continuing to take to Congress."
The 10 million words in the current tax code and regulations...MORE
Social Security Advice for Soon-To-Be Retirees
Can you recommend any services that help pre-retirees decide when to start drawing their Social Security benefits? My wife and I are approaching retirement age and want to carefully weigh our options...MORE
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