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Walt Zaremba
Williamsburg, Virginia
Your Dreams, Our Knowledge...Creating Estate Plans That Work
Interests: People
Recent Activity
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A 529 college plan is a great way to do something now, to give your kids a chance to move on after high school (and move out) and find their passion. Investing in your child’s education early can position them to take advantage of the numerous opportunities that will shape... Continue reading
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Whether you have name agents (legally known as ‘fiduciaries”) to act during your lifetime or after you pass away, these individuals can make or break your estate plan. Fiduciaries have the ability to determine the fates of family relationships and financial security. However, most people don’t realize the potential consequences... Continue reading
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Step-up in basis doesn’t depend on whether or not you pay state or federal estate or inheritance tax on the real property. It’s not uncommon for a family to have a cabin or vacation home in another state. It’s also not uncommon for the parent and owner of that vacation... Continue reading
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Tully Lovisa, Shaun Sullivan, and Lorraine Chalavoutis were recently indicted in New York federal court. Attorney General Jeff Sessions, Richard P. Donoghue, United States Attorney for the Eastern District of New York, and Peter R. Rendina, Inspector-in-Charge, United States Postal Inspection Service, New York Division (USPIS), announced the indictment that... Continue reading
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According to court documents obtained, the late actor and musician David Cassidy left his son Beau the bulk of his estate. That estate was originally valued at just $150,000, minus some substantial debts. However, Cassidy’s estate is now estimated at about $230,000, after debt expenses are paid. However, there’s more.... Continue reading
“The Maryland estate tax shall be determined without regard to any deduction for State death taxes allowed under § 2058 of the Internal Revenue Code” During the 2018 session, the Maryland legislature enacted a bill in response to the Federal Tax Cuts and Jobs Act of 2017 to limit the... Continue reading
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A state’s taxes and cost of living are the most critical factors when deciding where to retire. The least desirable states for retirement typically had poor ratings in the categories for cost of living and taxes and were also weighed down by low scores in other categories. Bankrate.com created its... Continue reading
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A Payable On Death or POD account is a non-probate transfer arrangement between a bank and a customer. Upon the death of the account owner(s), an account with a "payable on death" designation will automatically transfer to the beneficiaries as the new owners. It’s also referred to as a Totten... Continue reading
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Glen Campbell's longtime publicist complained that although the estate was filed nine months ago, administrative duties have been stifled by the limited powers set by the court in February. With federal deadlines approaching, the interim administrator of the estate of famed singer Glen Campbell is asking a judge for additional... Continue reading
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At what point are you are no longer able to take care of your financial affairs? Who makes the determination that you have reached that point? Last month, Buzz Aldrin filed a lawsuit against his son Andy and his daughter Jan. The former NASA astronaut and the second man to... Continue reading
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For seniors who are single and childless, a lack of a default support system creates additional issues as they age. Roughly 35.4 million Americans lived alone in 2016, comprising 28.1% of all U.S. households, according to the U.S. Census Bureau. The number of those age 65 or older is about... Continue reading
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While it may be fairly common practice for couples and business partners to take title to each other's bank accounts, brokerage accounts, real estate and/or personal property as 'joint tenants with rights of survivorship' (JTWROS) it is not without its drawbacks. JTWROS, or Joint Tenants with Rights of Survivorship, is... Continue reading
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New details from Anthony Bourdain's will show that the celebrity chef, television personality, and author may not have been as wealthy as many thought; unfortunately, wills are public documents that allow for such scrutiny. His estate could also be susceptible to a legal dispute since the celebrity chef and his... Continue reading
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The “sandwich generation” is a generation of people, who are usually in their 30s and 40s. They are caring for their aging parents while supporting their own children. If this sounds like you, then this means you’ve got a lot to worry about. Even if you are not taking financial... Continue reading
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Singer Jimmy Buffett is among those investors behind a new development known as Latitude Once it opens, you can live on Flip Flop Court, Coral Reef Way, or St. Somewhere Drive. You can take your dog to the Barkaritaville pet spa; work out in the Fins Up! Fitness Center or... Continue reading
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Buzz Aldrin, the second man to step on the moon, filed a lawsuit in June in Florida, a week after his children Andrew and Janice filed a petition claiming their father was suffering from memory loss, delusions, paranoia, and confusion. Aldrin’s two children requested that the judge name them his... Continue reading
Sir Bruce Forsyth may not have left his millions to his children. It would seem that Bruce Forsyth’s strategy in leaving his children nothing was to avoid estate tax. In the United Kingdom, money that’s passed from a husband to a widow isn’t subject to inheritance tax. However, an inheritance... Continue reading
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A legacy can be more than the assets being passed down. An ethical will, also known as a "legacy letter" or "living legacy," is a document that is often given to family and loved ones, while the writer is still alive to go over matters not covered in the will.... Continue reading
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Let’s examine what’s includable in Social Security income and what’s taxed. Based on the amount of your Social Security benefits and other income–including tax-free interest on municipal bonds and certain other excludable amounts–your benefits are included with other taxable income at the rate of 85%, 50%, or zero. The rate... Continue reading
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Statistics say that about 80 to 90% of U.S. businesses are family-owned. However, less than a third will survive into the second generation, with just one in ten making it to the third. Business succession planning is a process in which business owners research and consider a strategy to move... Continue reading
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Here’s a handy checklist to ensure that your loved ones are taken care of after you're gone. Any estate plan whether its foundation is a simple will or is trust based should be a well-written document that describes how you’d like your property to be distributed after you pass away.... Continue reading
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While today's run of the mill estate planning may cover you from a tax perspective, Wills or beneficiary designations do little to address family strife. It’s great that now that the estate tax exemption is more than $10M, a simple Will saves your loved ones from a big tax bill,... Continue reading
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While we all should have plans for that time when we are unable to manage our own health care, finances or our estate after we die, singles need a financial back-up as much, if not, more than the rest of us. When you have a partner or children, it’s an... Continue reading
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Here’s a handy checklist to ensure that your loved ones are taken care of after you're gone. Any estate plan whether its foundation is a simple will or is trust based should be a well-written document that describes how you’d like your property to be distributed after you pass away.... Continue reading
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For recent college graduates entering the workforce, priorities include bills, rent, and student loans. As a result, retirement planning is given a low priority for many young people in the early stages of their careers. Roughly two-thirds of millennials have saved nothing for retirement, says a report by the National... Continue reading