November 2010 Newsletter

Planning Your Financial Future

November 2010

Halloween is this weekend.  Be careful when you are on the roads, and watch out for the little ones that may dart out in front of you.

Federal Estate Tax Update–Inheriting Property in 2010
There is currently no estate or generation-skipping transfer (GST) tax for 2010, but both taxes are scheduled to be reinstated in 2011, with a $1 million estate tax exemption, a GST tax exemption of about $1,340,000, and a top rate of 55%. Efforts at congressional resolution include the possibility extending the 2009 rates and exemptions ($3.5 million exemptions for both estate and GST taxes and a top rate of 45%) through 2011 retroactive to 2010.

Eight Financial Aid Myths
If you have a child going off to college next fall, it’s important to understand as much as you can about financial aid eligibility. Here are some common myths.

What You Can Learn from a Mutual Fund Prospectus
When you’re contemplating the purchase of a mutual fund, some of the factors you’ll need to consider carefully before buying are its investment objectives, risks, costs, and expenses. Information about all of these can be found in the prospectus available from the fund. Over the last year or so, fund companies have been implementing new Securities and Exchange Commission regulations that are intended to ensure that investors can get key information in a more efficient, user-friendly format.

Does homeowners insurance cover personal liability?
Typical homeowners insurance provides limited coverage for personal injury or property damage for which you or members of your family living with you may be responsible.

Will my homeowners insurance cover tree damage?
Your homeowners insurance may cover some types of property damage caused by trees, but it will depend on the circumstances.

IRS regulations require that I advise you that, unless otherwise specifically noted, any federal tax advice in this communication (including any attachments, enclosures, or other accompanying materials) was not intended or written to be used, and it cannot be used, by any taxpayer for the purposes of avoiding penalties; furthermore, this communication was not intended or written to support the promotion or marketing of any of the transactions or matters it addresses.

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