Happy Holidays!!!

A portfolio examination before year end - Your prescription for fiscal fitness

As we near the end of 2007, it's a good time to review your investments. A year end checkup can reveal valuable tax-saving opportunities. It also allows you to take your financial vital signs and evaluate whether your portfolio is meeting your objectives. This article looks at a few key strategies to consider implementing with your investments.
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Affairs of state - Managing multistate taxation

In today's business environment, few companies limit their activities to just one state. So it's not unusual to find several states - or even all 50 - competing for your tax dollars. This article discusses how a review of your interstate activities can help your company comply with the various tax laws and identify valuable tax-saving opportunities.
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Filling in the blanks - Powers of appointment add flexibility to your estate plan

One of the biggest challenges of estate planning is deciding how your wealth will be distributed years or even decades later. After all, laws, relationships and personal situations will change over time, affecting your plan's ability to achieve your goals. What if circumstances change and you die or become incapacitated before you have a chance to amend your estate plan? Is there a way to build flexibility into it to adapt to these changes? One potential solution is to grant a power of appointment to a trusted family member. It's like leaving some blanks in your estate plan and designating who gets to fill them in. This article describes how this works and the potential generation-skipping transfer tax savings.
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Tax tips

News items briefly discussed are shifting income to children, some provisions of the Small Business and Work Opportunity Tax Act of 2007, and defined-value gifts.
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Plan ahead for peace of mind - The benefits of using a buy-sell agreement

If you're an owner of a closely held business, consider creating a buy-sell agreement. It provides the means for an orderly transfer of ownership at your death, whether to family members or to remaining owners.
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Up your estate tax exemption ante with a credit shelter trust

Think of your estate tax exemption as a ¡°do not pay taxes¡± card that, under current law, allows you to transfer at your death $2 million worth of assets without paying estate tax. But the ¡°card¡± isn't transferable. So if you bequeath everything to your surviving spouse (automatically tax-free under the marital deduction if your spouse is a U.S. citizen, easily made tax-free if your spouse is not a U.S. citizen), your $2 million ¡°card¡± doesn't get played at all.
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Help wanted: Seeking competent and committed trustee

A trustee has the authority to oversee and administer a trust's assets according to your wishes. So selecting a competent trustee who will act in your - and your beneficiaries' - best interest is essential.
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Estate Planning Pitfall - You haven't planned for long-term care costs

Effective estate planning also means planning for your potential long-term care needs. Until you have a plan for long-term care expenses, the rising cost of care will be a constant threat to the wealth you intend to leave to your heirs.
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