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February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
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Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
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Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
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Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
Nov. 19, 2007
/9 Kislev 5768
Research state tax laws before deciding where to retire
By
Jan L. Warner & Jan Collins
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http://www.JewishWorldReview.com |
Q: My wife and I enjoy your excellent column, which appears in our local paper in Pennsylvania. You said in a recent column that 98 percent of those who die will not have taxable estates, but this statement seems not to apply to those of us who live in places like Pennsylvania -- that is, in states that impose cruel and significant inheritance taxes. In our state, the surviving spouse is the only person exempt from this tax, which begins taking out a bite with the first dollar. As I understand it, a child or parent who inherits gets hit with a tax of 4.5 percent of all assets inherited, while a beneficiary who is not related to the decedent will pay a whopping 15 percent tax. I think Pennsylvania is the worst of the relatively few states that levy inheritance taxes. Thank you for all that you do to provide excellent information to your readers.
A: Thank you for your e-mail. The column about which you speak dealt only with federal estate taxes, not state inheritance taxes, which we believe should be addressed.
Based on our research, there appear to be 10 states where inheritance taxes are still a factor to be reckoned with: Indiana, Iowa, Kansas, Kentucky, Maryland, Nebraska, New Jersey, Oregon, Pennsylvania and Tennessee. As far as we can tell, all states that levy inheritance taxes let spouses off the hook, and some do not tax testamentary dispositions to children and other close relatives.
In other words, each state with an inheritance tax on the books has its own unique way of assessing the tax. Unlike the federal estate tax, which is imposed on the total estate after a "deductible," state tax is charged on the part of the estate received by a beneficiary and paid by the person who receives inherited property.
Inheritance taxes are only part of the problem because "traditional inheritance laws" that were designed around the then-prototypical "Mom, Dad, and Children" definition of family are failing to meet the needs of the "family," which, over time, has morphed into many different types of relationships. Examples include single-parent families with and without nonmarital children; unmarried cohabitants with or without children; stepparents with two or more sets of children; proxy parents, such as grandparents who raise grandchildren as their own; and even children who are born through artificial insemination or via surrogate mothers. Clearly, without special planning today, death in some of these relationships will meet neither the needs of the survivors nor the wishes of the decedent.
Another issue that plagues American inheritance laws today is our mobile population juxtaposed against inheritance laws that vary significantly from state to state. While the Uniform Probate Code has been passed in a growing number of states, each state legislature tinkers with parts of the act, making it not "uniform," after all.
And, to complicate matters further, the potential of births occurring long after a parent's death via frozen embryos and sperm must be addressed because such situations could postpone distributions from an estate for years.
Taking the NextStep: While inheritance taxes are different from state estate taxes, retirees considering a state in which to retire should look at all taxes levied, not just inheritance taxes. For more information about taxation and the retiree, go to www.retirementliving.com/RLtaxes.html
Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
JAN L. WARNER received his A.B. and J.D. degrees from the University of South Carolina and earned a Master of Legal Letters (L.L.M.) in Taxation from the Emory University School of Law in Atlanta, Georgia. He is a frequent lecturer at legal education and public information programs throughout the United States. His articles have been published in national and state legal publications. Jan Collins began co-authoring Flying SoloŽ in 1989. She has more than 27 years of experience as a journalist, writer, and editor. To comment or ask a question, please click here.
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© 2007, Jan Warner
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