Retirement_Asset_Protection connie dello buono

You do not have to lose your hard earned money for lifetime retirement should you need nursing home care. Prepare many years in advance for asset protection and health planning. Government regulations for health care benefits look at your assets 5 years back. Plan for your estate, gifting your children and grandchildren and health/financial planning in advance.

Estate Taxes

Year Exemption Top Rate
2008 $2 million 45%
2009 $3.5 million 45%
2010 Tax Repeal 0%
2011 $1 million 50%
2012 $1 million 50%
2013 $1 million 50%

Current estate taxes range from 37-48%, with an exemption of the first $2 million in 2006.  The exemption amount gradually increases and the top tax rate gradually decreases until 2010, when the estate tax is repealed for one year.  Without additional Acts of Congress, the estate tax will be reinstated to 2001 levels in 2011.

The federal estate tax exemption is rising gradually, from $2 million in 2006 to $3.5 million in 2009. Meanwhile, the top estate tax rate declines 1% per year until it reaches 45% in 2007 where it stays until 2010. The estate tax is scheduled to phase out completely by 2010, but only for a year. Unless Congress passes new laws between now and then, the tax will be reinstated in 2011 when the exemption reverts to $1 million.

Legal and tax advice are not provided.  Please consult your tax attorney before you act on any information provided in the materials above.

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If you want more information on long term care ,retirement planning and asset protection, contact Connie Dello Buono 408-854-1883 motherhealth@gmail.com . CA Life lic 0G60621
1708 Hallmark Lane San Jose CA 95124. With offices in Fremont, South San Francisco, San Jose,Sacramento and Milpitas.

Call for a one on one info sharing or a free seminar in Fremont this Sat from 9-10am.