I was recently asked, “What are the consequences if the debt collector fails to provide verification under FDCPA?” Continue reading
Clients often call me to complain about a debt collector calling their relatives in regard to their debt. “Isn’t it illegal to talk to my relatives about my debt”, the client will ask. After 3 years of law school and 20 years of practice, I can give them this definitive answer: It depends. Surprisingly, it is not always illegal to contact a third party about your debt. Continue reading
On January 3, 1013 the American Taxpayer Relief Act was signed into law. The estate tax has been in a state of flux since 2001. The new Act makes permanent the 2012’s federal estate tax exemption of $5 million, adjusted annually for inflation. This basically eliminates the estate taxes for most of the population. If Congress had not acted, Estates above $1 million would have been subjected to federal estate taxes beginning in 2013. This would have been a significant change for estate planners and individuals. In 2000, $675,000 was the amount free of federal estate taxes. If you owned property worth more than $675,000 then your estate planner would have suggested doing some estate planning. After 2001, pursuant to the Economic Growth and Tax Relief Reconciliation Act of 2001, the $675,000 (with a 55 percent tax for anything above that amount) exemption increased in increments. In 2002 and 2003 the exemption was $1 million. In 2004 and 2005 the exemption was $1.5 million and in 2006 through 2008 the exemption was $2 million. In 2009 the exemption was $3.5 million.