Category Archives: Estate Plan Trusts

Northbrook estate planning attorney Jay Kaufman, (847) 521-4900, can help you with your IRA and Roth IRA account and all of your estate planning needs. Estate tax exemption is 3.5 million and is set to be repealed in 2010. Government may extend this exemption into 2010. The estate tax is not going to affect most estates. However, most estate plans have been designed when the exemption was $600000 or one million dollars. Most people have estate plans that are estate tax focused, having unintended bad consequences. If your estate plan was designed before 2006, it should be reviewed. In 2010 there is an important tax and retirement planning opportunity. Prior to 2010 conversion to a Roth IRA was limited to people making less than 100000. The Roth IRA is distinguished by the fact that it is complete tax avoidance, not just tax deferral. A Roth IRA can help you avoid taxes and the minimim distribution. This is the best tax shelter available especially in an environment of higher tax rates. In 2010 people who have retirement accounts they will have to take their minimum distributions. You should look at your distribution early in the year. Call Jay Kaufman at (847) 521-4900.