Quotes

The following are direct quotes from CUT YOUR TAX IN 2010:

“The government isn’t entitled to as much of your money as you have been willing to share.”

“The problem with most retirement dreams is that they are often based on a joint vision of what the couple wants or needs. All too often, that dream turns into a significant physical and financial burden when one spouse passes away.”

“Capital gains taxes may be the most financially significant burden your beneficiaries will endure if you don’t structure your estate properly.”

“Here’s a brilliant point about Roth IRA conversions: you can undo them.”

“We all know that it doesn’t matter how close you are to retirement, you may still get that pink slip tomorrow.”

“Predicting the future based on what has happened before—and betting on that prediction—is risky.”

“Investing in this economy is like gardening: you cannot simply plant a garden and watch it grow. You need to prune, pull weeds, and harvest continually to allow that garden to thrive.”

“Not having an estate tax in 2010 causes estates less than $3.5 million to be subject to capital gains taxation. And the potential of lawsuits due to a retroactive tax is imminent. It’s essentially a train wreck.”

“The cost of administering a trust is usually around 1 percent of the trust’s value. That is 80 percent less than the potential cost of probate.”

“Divorce will strike your family at some point. And it will affect what your children and grandchildren will inherit from you.”

“Estate planning gives you the freedom to control as much of your legacy as you would like. In fact, you may be surprised at how much control you can have, even well after your death.”

“When you take your chances on filling out legal documents on your own, it’s your family who will ultimately discover whether or not your wishes were laid out correctly.”

“Managing your money is like conducting an orchestra. Who is your conductor?”

“One of the biggest mistakes we see—especially when it comes to estate planning—is the lack of family participation in the planning process. This can have severe tax implications.”