You have decided that it's time to upgrade your outdoor space and you want to build this fabulous spot where you can get away from it all. An outdoor oasis if you will. Well, if this is what you want to do, you have to do it right and that's where fabulous teak patio furniture comes into play.
Teak patio furniture is pretty much the best furniture that you can get for your outdoor space. Why? Well, first off, it is extremely durable because of the teak wood that it is made out of. Teak wood is a dense, thick hardwood that is not easily damaged and its natural oils make it very resilient to the elements. Rain, sleet, hail, even extreme cold or overexposure to the sun won't harm it, which is great for you if you have to leave yours outdoors all year round.
In addition to being durable, teak wood is also very pleasing to the eye, creating teak patio furniture that will enhance the appearance of any outdoor setting that it is placed in, whether it be on a porch, deck, patio, or even in a four seasons room. The reason it is so appealing to the eye is that when new, teak wood has a gorgeous golden wooden tone to it that gradually weathers to a distinguished silver gray color. Both looks are extremely beautiful, and will have your space looking better than ever.
What's really nice about teak patio furniture is that it is available in all sorts of styles and designs, making it a synch for you to build any kind of space that you want. Like, if you want that outdoor oasis for just you and the one you love. Then, a great way to go would be by adding some chaise lounges to the space, a few end tables, and an umbrella to finish things off. Or, maybe you want a spot where you can entertain guests, for you then you would want to have a teak bar in place, some bar stools, a teak patio dining table and chairs for eating, a garden arbor to provide shade, and then a few decorative accents in place, like teak planters, to give it a well, rounded completed appearance.
You see, with teak patio furniture there are just a lot of choices and those just mentioned are just a few of the options that are available. There are actually many more to choose from, so many that it would really be silly to list them all. So, you might as well check them out for yourself and a great way to do just that is by going online and doing some comparison shopping. It's fast because you can click through all the selections in no time at all and when you happen upon something that you like, you can purchase and have it shipped right to your home. Now, that's an easy, simple way to shop.
So, if you want a backyard oasis, or just a nice outdoor area, turn to grand teak patio furniture to do it. It's one of the best types of furniture around and because of its durability, beauty, and high comfort level, it is a perfect option for adding to any deck, porch, or patio area.
About The Author: Author Jesse Akre is an owner of a variety of online stores specializing in providing niche items and information.
12/27/07
Teak Patio Furniture – Helping You Create The Perfect Outdoor Oasis
Roof Weather Vanes – How To Install Them
If you have seen the beauty a roof weather vane can offer to your home you may have thought about putting one on your own. But then came the problem how do you do it? It's not like rigging up a bunch of holiday lights, there's a heck of a lot of more work involved to putting roof weather vanes in place. But it's not out of the question.
Here are three ways to install roof weather vanes.
1. Copulas - If you want the full look of copulas and roof weather vanes you will need to first decide on the copula you want on top of your home. Many copulas can either be mounted to the top of your roof (to one of the joists) or attached to a board just above the roof. The important thing is to make sure this part is well mounted as it will be the piece responsible for holding everything in place.
2. Roof Mount – If you don't want the expense or work involved in adding a copula to your house, you may want to try this form of attaching roof weather vanes to your home. A roof mount will use a 'V' shaped bracket that will sit on your roof and be screwed into an anchor point. It's important to make sure this is installed right, so your weather vane will operate properly. Before you fasten it down, put the weather vane in it and check to see if it's level. Off-level roof weather vanes don't work properly. A lot of people like to eyeball this, but it's much smarter to use a real level to make sure. Better to do it once than have to keep climbing back up on the roof to make readjustments.
3. Side Mount – Don't want to play on the roof too much. This attachment will let you set up roof weather vanes while just on a ladder along the side of the house. A side mount attaches to the end caps of your house where the eaves meet. An L-shaped tube comes from a plate that is fastened to the house and you can install the roof weather vanes inside that bracket. Instead of being able to put the roof weather vanes in the middle of your roof, they will be relegated to the side of the house, but that also can make them more visible from the ground. This is especially true if you have a two-story or taller house where it's harder to see what's on the roof.
One final consideration in selecting roof weather vanes is to select one that matches your house and the roof in size. If you have a large home or a very tall house, you are going to need to look at larger roof weather vanes to avoid them looking too dinky on the top of the house. It may look great up close, but you need to think of how far away you will be when you're seeing it. Measure the size of the weather vane and stand at least 20-30 feet away to get an idea how it will look when you have it installed.
About The Author: Author Jesse Akre is an owner of a variety of online stores specializing in providing niche items and information. Today, he shares his insight on décor and furnishing ideas to revamp the look of your outdoor space
Bedroom Furniture - Creating An Oasis Of Relaxation
The old black and white movies on the silver screen had bedroom furniture all figured out. There, in an oasis in a lonely desert, a single tent stood. Inside, was paradise on earth. Luscious silks, overstuffed pillows, and a bed that would surround you in ecstasy.
Sigh…
The truth of the matter is, you can create your own oasis in the middle of the hubbub of life. All it takes is a little imagination, a bit of elbow grease, some paint and bedroom furniture that matches the theme and you're all set.
Imagination is an essential ingredient. A bedroom, particularly a master bedroom, should be your escape from the work-all-day world of stress and strain. It should be welcoming. It should be romantic. And it should reflect your unique tastes. It is, after all, your inner sanctum and only the select few are invited to share it. So why shouldn't it be elegant and comfortable, too.
If your bedroom hasn't received a facelift in a long time, it's time to do some cosmetic surgery. Strip the room of all the wall art and bedroom furniture. Now you have a blank canvas to work with. Spackle all the holes and cracks in the wall and give your walls a new coat of paint. Paint is one of the least expensive ways to give a room an entirely new look.
Once you've put a little makeup on the walls and ceiling, it's time for some foundations. Your bedroom furniture should reflect your tastes as well. Thankfully, there's an endless variety of bedroom furniture to choose from these days, from the traditional to the modern, from Oriental to tropical – the choice is yours.
When selecting your bedroom furniture, keep in mind the theme you're going for. If you're looking to make your room look like a page out of Islands magazine, select bedroom furniture that has a Caribbean, plantation or Key West look to it. The same is true of virtually any theme you can come up with. Want to do an African savanna theme? Go with dark wooded bedroom furniture and accent it with mosquito netting, tribal masks and a few primitive statues. Go with jungle greens for the walls, offset with white trim. In no time you're be sure you're hearing the trumpeting of elephants and the roar of the king of the beasts.
Accent pillows are another nice touch, as are small knickknacks and photos of family and friends. These soften the space and will add character to the room, the bedroom furniture and the fabrics you have in them. Again, choose colors and textures to add interest without causing distraction.
If your furniture is in relatively good repair, you may want to refinish it in new stains or colors to match the look you're going for. And while you're at it, consider rearranging the furniture in the space. It can do wonders for a tired looking room.
Finally, you'll probably want to redo your linens to match the new décor, the new colors and the ambiance of the space. Consider luxurious looking pillows, comforters and linens that will make your bedroom look like an oasis in the desert of life.
About The Author: Jesse Akre is an owner of a variety of online stores specializing in providing niche items and information. Today, he shares his insight on décor and furnishing ideas to revamp the look and feel of your home. Furnish your space in style
An Introduction To RV Window Blinds
Just like window blinds for your house, RV window blinds are coverings made to fit RV windows to provide shade and privacy. These blinds are available in a variety of styles and colors, so it is easy to find window shades that are not only the right size for your RV, but also fit nicely into your room's design.
Some of the more commonplace types of RV window blinds include:
- Aluminum RV window blinds. Aluminum mini blinds are also available in an array of colors and most models include a simple device for opening and closing the slats, as well as raising and lowering the whole shade. These RV window blinds can be bought in a range of sizes and can often be cut to your specifications.
- Windshield privacy wraps. Similar to pleated, pull-down RV window blinds, windshield wraps are made from fabric material and are available in lots of colors. These window blinds are attached on rails along the inside of the windshield so they slide open and closed for easy use.
- Pull-down, pleated blinds. These shades are generally made of a tough, stain-resistant fabric and can be found in day/night options. Day/night window blinds feature a sheer layer that can provide respite from the sun and privacy without concealing all natural light for day time use and an opaque layer for complete privateness at night. Pull-down blinds are available in several colors and open and close without trouble.
Advantages of RV Window Blinds
There are a number of reasons RV owners want to install window blinds to their travel trailer or motor home. RV window blinds are almost similar to the blinds and shades covering windows in our homes. A primary purpose of their use is to add fashion, style and personality to your home away from home. There are plenty of styles and colors to want from, so it is easy to give your RV a personal touch.
Window blinds are also the easiest way to get a sense of privacy inside your RV. RV camping is lots of fun, but most RV parks don't provide a great amount of privateness. While spending time with your camping neighbors is fun, there are times you need your own space. Window blinds can be lowered and closed so that no one can look inside your RV.
These window coverings are the greatest way to protect your RV's interior from the harmful effects of ultraviolet rays from the sun. RV window blinds can shut off direct sunlight so your furniture are protected from fading. They can also regulate the temperature inside your RV.
The Downfalls of Window Blinds for Your RV
Like home window blinds, those designed for RVs can be troublesome to keep clean. Pleated shades can simply be wiped clean with a damp sponge. While this type of blind is usually made of a stain resistant material, it is also much more susceptible to splatters and spills and may require more work than slatted blinds. Aluminum, slatted RV shades do require a more thorough cleaning process because each slat must be cleaned individually. It can also be hard to find RV window blinds for unconventional sized windows, often requiring a custom cutting.
How Much Are RV Window Blinds?
Window blinds are a great enhancement to your RV, whether you're looking for some privacy or hoping to cool the inside of your motor home on a hot summer afternoon. A variety of styles, colors and sizes are generally available from outdoor outfitters and camping suppliers. RV window blinds are also available on the internet. These useful and beautiful window coverings can be found for as little as $30, while some RV window blinds cost more than $100. Professional installations will more expensive.
About The Author: John Robert is the author of http://WindowBlindsArchive.com Visit his site for more free tips on getting the right type of windows blinds for your home.
Home Design Programs-You Don't Have To Be An Interior Design Expert To Achieve Your Dream Home
It is possible to draw the most brilliant home designs with many home design programs available today. You no longer have to fiddle with pencils, paper and erases for hours at end. Visualization is the key when it comes to designing a home. Whether you have a new interior design bedroom idea, bathroom design idea, or any other interior designing idea to implement, this free home design software can help you achieve the home you want.
How to get your vision across to your team of designers, architects and engineers can be a challenge without a proper layout. Now it's no longer a problem for those people who want to create a proper design for their home but lack the experience of an expert designer.
Easy home design programs are getting increasingly popular and make it simple for most of us to design homes that look stunning but most importantly take in to consideration individual needs and preferences.
The best thing about these programs is that some of them are extremely low cost or even free! Imagine not having to spend a single cent on designing your home with the aid of a simple PC.
A lot of these programs are freely available on the internet for anyone to download and are classified as freeware. Some of these programs give out demo versions for a limited amount of time and if you like the program you can invest a small amount of money buying them.
All in all the deals out there on the internet are amazing when it comes to such programs. When it comes to choosing software its best to review some of them and to decide on one that combines ease of use and superior quality graphics. Some these programs are so amazing that they even give you professional blue print type results in minutes.
Most home design programs have a very low learning curve and they can be easily used by even novice computer users. Of course, polishing up a few computer basics can be useful if you do not have any ideas about computers but overall the ease of use and simplicity that is built in to some of these packages makes sure that using them will not be that terribly difficult.
The best way to find the top design programs is to find out what the experts are saying about them. For this, go on websites that review the various programs, because these people will have already utilized these programs themselves, and can therefore help you to find the best.
Obviously, the more money you are willing to spend, the better the program you will be able to get; however, even if you don't spend a dime, you can still get a reasonably high quality machine that will help you achieve the home of your dreams. Is it optimum? No, but if you don't have a lot of money to spend, than a free machine should still work quite well in helping you to get the home you want.
Some of these packages even have a very intuitive interface that makes it even easier for the novice users. It is truly amazing what is possible with some home design programs and how they have empowered the home renovator and builder today.
About The Author: For tips on finding the top home design programs, visit http://interior-design-success.com . Learn about bathroom renovation ideas and more.
Be Creative With New Home Appliances
A person that has a passion for cooking would really enjoy receiving new home appliances for Christmas. The appliances could make cooking more enjoyable because they offer more features that are convenient to use and are equipped with surfaces that make clean up a breeze. A cook would love to have a varied assortment of small appliances to make preparing quick meals and treats that the whole family would love without worrying about heating up the whole house.
A cook could feed an Army with the innovative cook tops that come with home appliances like stoves. The smooth surface of the induction cook tops allow cooks to follow their creative urges and produce several dishes at one time since there are more heating surfaces. For cooking efforts that are fast and efficient, a cook could prepare several meals in one day, and use other home appliances to reheat them later.
A creative cook would not have to travel far to do any kind of baking because the latest home appliances come with double range ovens that offer ample space to cook several dishes at once, and the temperatures of those items does not have to be the same. The happy homemaker could let her creative energies flow in choosing the color scheme for the kitchen appliances too because the cook tops, ranges and ovens are offered in a variety of color shades that will fit in with any lifestyle.
The creative designs in home appliances like refrigerators and freezers allow cooks to access foods in a manner that is convenient and comfortable. Some cooks find the side-by-side refrigerators to be very functional in their busy kitchens. These kitchen appliances are equipped with water in the door features that help homemakers reduce their electrical costs. The refrigerators will have creative storage for freezing foods, and a cook can be very creative when selecting styles for the top and bottom.
The designers for some home plans have gotten very creative on saving space and will often design kitchens around the home appliances that are in the kitchen. Some kitchen floor plans work more efficiently if the stovetop is placed on a island, and all the other home appliances are built-in to the walls and mounted under cabinets. Some perks can be added to space saving kitchens like wine and beverage centers which are perfect for homes that have several children in them.
Older homes might benefit from home appliances like water systems and room air conditioners. Homeowners can get very creative while making home more energy efficient by installing ceiling fans around the home that are color coordinated with the home appliances in the kitchen. The surfaces for home appliances can be made to mimic hardwoods, or be just the right shade of silver to blend in with any formal dining plan.
A cook can buy home appliances with non-marring surfaces and never worry about fingerprints and smudges ever again. Some home designs will allow home appliances to be recessed into the wall to create a customized look that is typical of high style kitchens in homes that are appraised for a high value. The rebates offered on many home appliances will give cooks more incentive to purchase cookware that blends in well with all of the new home appliances in the kitchen.
First Home Buyer Tips When Looking For Finance
First home buyers who have not inherited a large chunk of money from rich parents or grandparents want to find the best packages that will give them the best value for their money. As such, they can be very careful, very meticulous, very detail-conscious to ensure that the home finance package they get is their most affordable and their most reasonable.
First home buyer finance scouters can sure use a few tips.
First, find a real estate agent that can relate with you professionally with full integrity and your best interests in mind. The whole home buying process is a meticulous and tedious one, and you need all the help you can get. There will be no more expert advice provider than a real estate agent. Just make sure that agent has complete rapport with your requirements.
Finding that agent will mean finding one who is very familiar with the local real estate market. That agent will also need to have on his fingertips the available properties out for sale, the sale prices, the trends of real estate buying and selling in the area, the development trends in the area that can affect real property prices. These agents must know and understand, even how to write, real estate contracts and agreements, have legal and technical knowhow to look at property titles and lot plans, at building or house floor plans, and other technical documents. They must also have a working knowledge of prevailing revenue or tax regulations.
After you find that agent, search within yourself now what kind of property you truly need. What kind of house do you really want? How many bedrooms will that house have? How big a family are you bringing in? What construction materials need to be considered that have gone into the construction of that house you want to buy? How long has it been erected? How much has the property depreciated economically?
With that contemplation, you come to contemplating your financial capacities thereafter. How long a timetable do you need to come up with the deposit? How long will the tenor of the home loan be? Will you be paying weekly, fortnightly or monthly? How much of your income can you contribute towards this loan and what are your expenses? What mortgage conditions and financing terms can you afford? Will you opt for fixed rates or variable rates considering your cashflow?
Work then with your agent to find that dream house. If you do find it, work on the purchase offer and present that offer to the home owner with full conviction that you can really make the purchase. First home buyers usually have the shakes when finalising the purchase agreements. Resolve to be decisive so that there will be no last minute change of mind and change of heart.
Also, discuss the process of how the transfer of the Title will be done. Don't get afraid of being tagged as ignorant; it is wise to voice out your concerns especially if you were not knowledgeable of things, especailly on legalities. If you can afford a lawyer, consult with one to teach you on how to go along with the legal processes.
After ironing out the kinks, ensure that your agent is ready with all the documentations to consummate the sale with the seller. Then, close the deal!
Craig Adams has worked with first home buyers for over 10 years.
Dont miss the opportunity to finance your next real estate purchase.
Cover your dog crates and dog cages. Covers for different dog crates ...
Cover your dog crates and dog cages. Covers for different dog crates ...
A range of dog crate or cage covers designed for the Croft and Crufts dog cage range ... Below - Quick Links to the pages you may need Dog cages. Find the correct size for your ...
Source: www.croftonline.co.uk
Dog Crate Covers - Large
Dog Crate Covers - Crate Wear comes as a set including Cover, Bumper and Mattress. Our Crate Wear Bumpers are the only bumpers made high enough to prevent crate related injuries.
Source: www.radiofence.com
Dog Bed Works - Dog Beds, Pet Beds. Dog Crates, Dog Furniture
We also have designer dog crates, soft dog crates, wooden dog crates, wicker crates and crate covers. Be sure to choose a mat or pad to match.
Source: www.dogbedworks.com
El bulo
Desde hace algún tiempo venimos escuchando a diferentes personas, incluso con cantidades exactas, hablaban de 600 euros, que nos decían que la xunta otorgaba subvenciones a quienes pusieran un nombre gallego a sus hijos.
Ayer nos acercamos a informarnos y quedó todo aclarado.
La calle ha vuelto a generar una nueva leyenda urbana.
Los funcionarios de la xunta nos comentaron que no eramos los primeros en preguntar sobre las "fantasmagóricas" subvenciones. Incluso hubo quien llego a decirles que ya que no había subvención, ya no les pondría el nombre en gallego a sus hijos.
Lo que más me asombra de todo esto, y nunca le encontraré explicación, es cómo se generan estas leyendas, por qué hay quien las amplía adjudicando exactitudes como cantidades, etc.....
Somos muy raros los humanos.
El ple del pressupost
L’escenari es senzill. Se’ns presenta un pressupost rígid, condicionat per decisions presses fa temps en relació a infrastructures i inversions, en les que la majoria de les forces a l’oposició havíem deixat clar el nostre desacord. No hi ha marge de maniobra per arribar a acords, doncs els números solen ser molt tossuts i des de fa molt temps, dos i dos, en qüestions d’aquesta mena, sumen quatre. I un equip de govern en minoria, presoner d’aquesta manca de consens, ha de treure endavant un pressupost sense poder donar resposta a les demandes i als projectes dels partits de l’oposició.
Les alternatives són clares.
* Un moment perfecte per deixar en evidència la feblesa d’un govern, tot i que pagant el preu de bloquejar i entorpir el normal funcionament de l’ajuntament.
* Ser responsable, permetre que l’equip de govern tiri endavant uns comptes, que si vols ser respectuós amb els acords de plens anteriors tenen poca alternativa i facilitar un dia a dia més normal en l’administració local
Una cruïlla en la que pots aplicar molts dels comentaris i dels retrets que es fan dels polítics i de la política en el debat, tant estès, sobre l’allunyament entre ciutadania i política. L’oportunitat de canviar les coses, tot i que estiguis a l’oposició, en front al sentiment de pertànyer a una corporació que te com a objectiu prioritari donar servei als ciutadans.
Un debat interessant en que el Grup Municipal de CiU a l’ajuntament d’Olot va optar per ser responsables i no forçar les coses. D’abstenir-nos, en un pressupost que no era el nostre ni ens agradava, però que preferíem a entorpir el normal funcionament de l’administració municipal. Amb la decisió del sentit del nostre vot sabíem que el pressupost tiraria endavant, doncs cap altre combinació de vots podia tombar la proposta, però volíem demostrar, i així ho vàrem explicitar durant el ple, que estem disposats a ser una oposició constructiva i dialogant, preparada per entendre les situacions i els condicionants i que prioritza Olot per damunt de qualsevol altre interès o circumstància.
També vàrem deixar clar que això no és un xec en blanc ni una posició inalterable en el temps. Que tenim molt clar el que esperem a canvi de la nostra actitud d’ahir i que fàcilment podem passar a posicions més bel·ligerants. Crec que ho vàrem deixar prou clar durant el ple però, per si de cas, ho he volgut deixar escrit en aquest bloc que se positivament que compte amb lectors molt propers o lligats a l’equip de govern socialista a l’ajuntament d’Olot.
Feliz Navidad a tod@s!
De momento no voy hacer ningún balance de la trayectoria de este blog, pero si agradecer a cada uno de los lectores, a gente que esta suscrita al feed de noticias, a la gente que me enlaza y los que dejáis comentarios. Muchas gracias, por estar ahí... me dais el apoyo necesario para seguir con el proyecto iniciado hace ya unos meses.
Os deseo Feliz Navidad y que vuestros deseos para estas fechas se puedan hacer realidad.
Om achterover te vallen deel 2!!
Wouter is gisterenmiddag voor verhoor geweest. Wat wij dachten is dus waar, die gast heeft tegenaangifte gedaan van mishandeling. Volgens zijn verklaring heeft wouter hem bewerkt met een boksbeugel. Vier van zijn "vriendjes"verklaren dat ook te hebben gezien!! Heel toevallig!!!!
Me dunkt zo als je een mep krijgt van iemand die een boksbeugel gebruikt dan zie je er denk ik niet zo fraai uit. Die gast heeft geen dokter zkhs o.i.d. geraadpleegd. Het enige wat wouter aan zijn ringvinger draagt is een zilveren herenring. Van de diverse bedreigingen die die gast nadat hij wouter heeft mishandeld geuit heeft , beide vaders zijn nog diverse keren op het bureau geweest om aangifte te doen van bedreiging, wisten zij plotsklaps niets meer van. Hm vreemd. Maar ja hoe rotter je bent hoe harder men voor je loopt!! en dan geloven ze je ook nog op je woord, ja ... zulke mensen spreken natuurlijk altijd de waarheid. Ze zijn natuurlijk ook wel een beetje laat met hun onderzoek begonnen druk, druk druk natuurlijk, en dan heb je geen tijd om videobeelden op te vragen of om te checken of ze er daadwerkelijk op dat punt wel een hebben hangen. DAT DOE JE NIET!!!! Maar goed mijn "crimineel"heeft zich wederom kranig geweerd tijdens het verhoor. Ook deze "soap"wordt vervolgd.
Nu even een klein grapje ter afsluiting: het is groen en het zit op een hekje., weet je de oplossing zet hem bij de reacties.
Post navideño...
Y bien, aquí estamos, 24 de diciembre de 2007, 20:00 horas. Un ratito que puedo dedicar a mi persona (entiéndase por eso, tener tiempo para hacer lo que me venga en gana) antes de ir a aburrirme como ostra en casa de mi abuelita.
Recién leí el último post de Angel, compañero de clase en Progra Avanzada II, quien ahora radica en Mexicali... hablando de lo cursi que se pone la gente en este día... es cierto, según los datos que se tienen, es probable que el Mesías cristiano haya nacido en abril o en octubre, no en diciembre.
No hay mejor pretexto para hacer compras de pánico (y dicho sea de paso, malgastar el aguinaldo), para fingir una sonrisa, o para hacer una comida fastuosa que costará bastante dinero, muchos kilos demás, y muchos trastes que lavar en una época en la que el agua escasea.
Lo peor, uno trata de ir ad hoc con el "espiritu" navideño, y la maldita red de Telcel no da para más, el mensaje navideño que les envié nomás no llegó a todos.
En mi caso, sé qué me espera.... estar de hueva en casa de mi abuelita, intercambiando algún comentario irrelevante con mis tíos/tías/primas, ver cómo mis tíos se embriagan, mis tías en la cocina platicando del último capítulo de la telenovela del 13 o de las conductas de sus respectivos hijos, mis hermanos y primos jugando a las escondidas, en lo que llega la hora de cenar (espero que hoy no se les ocurra ponernos a rezar antes), la ridícula ceremonia de arrullar a los niños dios, con toda la familia Beltrán desafinando y mal-leyendo los rorros del novenario, uno de mis tíos se pone a llorar (efecto retardado del alcohol), y al final todos se van... y un servidor muerto de hueva y pensando: "una buena partida de Unreal desperdiciada".
Antes de que me manden algún comentario negativo: respeto lo que haga cada quien en sus casas, simplemente me frustra que siempre sea lo mismo en mi familia. En especial después de la navidad pasada (la mejor de mi vida!!!), la cual pasé en Nuevo Vallarta, con mi ma y mis hermanos.
Como sea, según sus creencias y costumbres, les deseo una feliz navidad, hanukkah, compras de pánico o cualesquier tradición que festejen por estos días.
De manera especial envío un abrazo muy fuerte a aquellos que están lejos de casa, saben que aquí se les aprecia y recuerda: Leo, Ladislao, Angel, Vaca, Carlos, y quien se me haya olvidado.
Y un abrazo a tí, que estás lejos de mí, sabes que me encantaría dártelo en persona. Traté de llamarte pero nomás no sale la llamada.
Pineapple cheesecake slice
Ok, tried this now, it's incredibly yummy, but the filling didn't really set (not that it matters to the end result, it's very creamy), plus I used a lamington tin (quite large) and found the filling and base wasn't quite enough, and the topping was well short, so I'll post the altered recipe first, and leave the original below it.
The base uses a marge/ kremelta combo as Olivani is too soft by itself, you could use straight margarine if you can find a hard one that is dairy free.
I'll be posting a cooked chocmint cheesecake later when I can track down soy cream cheese again, the local supermarkets seem to have stopped stocking it.
Onion Dip
Gotta have onion dip at Christmas time, because, well ready salted chips are pretty boring really! This isn't quite condensed milk and onion soup, but it's not too bad, if my hubby will eat it it's got to be ok.
Onion Dip
2 heaped Tbsp cornflour
1 cup soy milk
1 Tbsp Maggi onion stock
1 Tbsp Malt Vinegar
60gms Olivani dairy free margarine
Mix the cornflour and soymilk and cook until thick, then cool in a water bath.
Beat Margarine until fluffy with the onion powder. Beat in the cornflour mix and the vinegar, and add more vinegar to taste if needed.
Chill and serve with your favourite dip friendly foods.
Refreshment Drive
After more than a month's wait, I finally gave up and picked up my Mini on Monday.
The mechanic's too busy, so I might as well do the repairs somewhere else. He did repair, of all things, the brakes, which are spongy.
Pending stuffs to repair, are fan belt replacement, clutch release bearing replacement, ball joint repairs, and some more stuffs of smaller importance.
I already felt like giving my car a refresher drive for a few days.
Afterwards, I will get back to using bus.
Did A 140
Only two out of five departments are open today.
By the way, I tried the new KL-Putrajaya highway today.
Some of the prominent points I gathered during the drive was:
- It will be 10km before I even entered the highway.
- Max speed at first will be 60kph, and then 90kph.
- There's a rest area almost immediately, which is the aptly named Seri Kembangan R&R.
- The first exit will be Bukit Jalil, and the first landmark I see there was Sports Complex, and then Endah Parade.
By the way, I ended up doing 48km, almost 6km more than my usual one-way mileage. So I guess, back to taking the bus then...
Car Care and Protection
When you get a new car, youre protective and careful to keep it looking and performing great. As time passes most of us get a little less interested. Taking the time to protect and keep your car looking great not only helps the look, it can also help to maintain the value of your vehicle. For instance, roll up car care covers, which can be custom fit to protect your car anywhere while sitting outdoors. These covers can protect your vehicle from outdoor elements, dirt, pollen, and other items that hamper the looks of your car. Another great alternative to parking your vehicle in a garage is to use a parking shelter or canopy.
Importance of Car Care and Maintenance
Car care and maintenance isnt always convenient but they are necessary components if you want to keep your nice vehicle running. Here are some ideas to make car care less of a hassle: As far as maintenance, keeping up with regular scheduled oil changes, tire rotations, inspections or other special maintenance your vehicle may need can keep you from having many issues later on.
Any time you hear a weird noise, feel vibrating that is unusual or see a warning light that shouldnt be on, the quicker you can get your vehicle to a garage the better chances you have to keep something serious from happening. Continuing to drive longer than necessary in these situations can create big and expensive problems.
Cleaning and Car Care Accessories
Clean your car in a snap without paying the price of a detailing shop. Its easy with the right car care accessories to lighten the load. Foam and spray nozzles like we all used to use at the quick car washes are now available to attach right to your own water hose, making it simple to have soap and rinse options all in one nozzle. Also new at many of your specialty retail stores are the automotive detailing kits that have everything in them to make your car sparkle.
For inside car care, the wet/dry cordless vacuum is a must have item. Not only will you be able to clean up dry messes but also liquid spills as well. If your vehicle includes vinyl or leather, dont forget to use specific car care cleaners on these delicate items especially if they are often in the sun.
12/24/07
Family and Your Retirement
As the years go by, when the kids grow up and leave (if you're lucky!), you will, inevitably, start thinking about retirement and the great value having a good number of years to enjoy the autumn of your lives and your family around you.
It's time to checkout the things you've gotten done in your life, taking the great positives away and really accepting that as phases of our lives pass, new ones open up and give us so much opportunity for joy and exploration.
It helps you set your sights on what's next and how to go about it.
It's a sad fact that many folks get to this point and regret that they hadn't made a better financial provision for their later years.
Yet now there are tremendous opportunities if you look around. Time to have fun and get excited about new opportunities that come your way.
The internet has opened up so many possibilities that it's possible to plan almost the whole of your retirement, from years before it's due, right here on the world wide web.
It's not unusual for older people even into their 80's and 90's to buy their first computer and, say, do their bulky grocery ordering online! Your kids, and more commonly your grandkids will be able to help you find your way around the technology.
And much, much more.
This is a time for remembering the things you used to do before children took all of your time up. Hobbies that you stored away in a cupboard.
Better still are those challenges and adventures that you might have felt had passed you by, yet now, with more older people being catered for, there are almost limitless possibilities. A friend recently went on a package tour of the Italian lakes and found he and his wife were the youngest at 51!
And that also leads to the opportunity to retire somewhere different to where you have lived for the time your family were growing up. Wherever you are in the world, there are retirees upping sticks and moving on out, to new pastures where the winters are milder and the summers are ideal places for the kids, and grandkids, of course, to visit for summer vacations at least.
It has to be a balance between what's important to you for the rest of your lives and the needs of those loved ones around you.
It is vital, that financially you are in as good a shape as possible. Making sure that as much of your outgoing is minimised (debts cleared, house paid for), whilst also ensuring that you have taken every opportunity to make the most of your investments from your mid-to late 40's onwards.
There are great, fun, exciting and almost risk-free investments out there - you just need to have the vision to see the possibilities, whilst ensuring that you balance the risk as well as you can.
Your retirement lasts as long as the end of your life - your family will bring you momentous joy as you benefit from 'being able to give the grandkids back' - every grandparents revenge! Never before have folks been able to achieve so much in their later years.
A little planning and effort, whilst you are up to it, will make you able to squeeze every last drop of joy out of those precious years.
Are You Prepared For Your Demise?
Some folks that are young between the ages of 20 years old and 40 years old take their mortality for granted. Why buy life insurance? I don’t plan to die for another 30 to 40 years many claim. Well, let me tell you a tragic story that will leave you speechless.
My dear friend Frank was a good man with 5 children and his wife was pregnant with number 6. He worked very hard to support is beautiful family. The love they shared was more precious then gold or fine diamonds. They were truly a happy family even through the hardest times imaginable. Well, Frank was not a rich man, but he was young. He was in his early 40’s and he just like most young men never gave thought to his uneventful demise. Then one day the unthinkable happened. While working under his car the jack gave way and crushed him to death. This was unforeseen and he was unprepared. His wife was left alone with 5 children while pregnant with number 6. She obviously could not work and he was her only means of support. This tragic event caught this family totally by surprise and now they will lose more than just Frank.
This happens to thousands every year. Is it that most people don’t want life insurance? Is it that they can’t afford life insurance? Whatever the case may be we need it. Accidents happen all the time and if we are not prepared the devastation can be catastrophic. Take the victims of Hurricane Katrina. They saw it coming, but thousands were not prepared for the aftermath. The horrible devastation of 9/11 left hundreds of family’s without means of support and this was not for seen. My point is that we need to take responsibility for our uneventful deaths while we can. If you don’t have life insurance by all means get it. If you say that you can’t afford it. I say that you can’t afford not to have it. Find a way to get it even if it means sacrificing something you enjoy. If you are a husband then your family depends on you. Just do the right thing. If you are alone remember that your burial costs money, so take responsibility for yourself.
The worst thing you can do is to make your family and friends a victim of your demise. Just do the right thing no matter what the costs. As for my dear friend Frank, his wife and children are doing fine due to the generosity and love of their family and friends. Frank will be remembered for his love and compassion. He is truly missed by those who knew him and loved him.
Estate: How To Legally Avoid Taxes On Gifts And Inheritances
Nobody likes to pay taxes. If done incorrectly, though, the way you inherit an asset can result in you needlessly paying tens of thousands of dollars in taxes. Knowing some simple rules will reduce your tax bill and allow you to keep more of what you inherit. And it will also keep you from creating tax headaches for loved ones to whom you wish to gift assets.
Whenever an asset is sold, Uncle Sam wants to collect capital gains tax. And that tax is figured using cost basis. Cost basis refers to how much money you invested in a given asset. When sold, the cost basis is subtracted from the amount received to determine the gain or loss. Your amount of gain or loss then determines how much you will pay in capital gains tax.
If you buy an asset for $10,000 and sell it for $25,000, your cost basis is $10,000 and the taxable gain is $15,000. Currently, the highest capital gains tax rate is 15%, which means you'd owe capital gains tax of $2,250. Losses can be used to offset other gains, but we won't get into that in this article.
Determining the cost basis can get complicated. If you buy an asset and add money to it, your cost basis increases. If it's a mutual fund and you have the dividends reinvested, that adds to your cost basis. If you sell a portion, that affects your cost basis as well. This means that it is important to keep track of the amounts you paid and received on all of your assets.
An asset can be many things, not only stocks and bonds but also houses, property, jewelry, coins, artwork, etc. Legally, you are required to pay capital gains tax whenever an asset is sold at a profit. In fact, 1099's are issued whenever investments like real estate, stocks, bonds, and mutual funds are sold.
Here's where people lose thousands of dollars. If someone gives you an asset, you 'inherit' the giver's cost basis in that asset. So if mom gives you $10,000 of stock that she's owned for years, you inherit her cost basis and are responsible for paying the capital gains tax on it when you sell it. If she only paid $1,000 for that stock and you sell it for $10,000 then you will owe taxes on the $9,000 gain.
On the other hand, let's say you inherited that stock from mom after her death (through her estate). Then your cost-basis would be the stock's market value at that time. This is called 'stepped-up basis'. So, even if mom only paid $1,000 for the stock, if it is valued at $10,000 when you inherit it you can sell it and not owe any capital gains tax. You just legally avoided the Tax Man!
This stepped-up basis is the government's way of making up for people having to pay taxes on the transfer of their wealth. But estate tax laws are in a state of flux. Under current regulation, the stepped-up basis disappears in 2011. However, there's some talk in Congress of doing away with stepped-up basis altogether, especially since the death tax only affects estates that are larger than $1,500,000. Most likely, if Congress ends the estate tax for all but the largest estates, they will collect revenues from smaller estates by abolishing stepped-up basis.
There are situations where it is better to have an asset given to you instead of it being inherited. It all depends on the size of the estate. Death taxes range from 37% to 50%, while capital gains tax rates are capped at 15%. So if an estate is going to be worth less than $1,500,000 then there will be less tax paid by inheriting an appreciated asset through the estate. If an estate will be worth more than $1,500,000 then less tax will be paid on that appreciated asset if gifted to you prior to death.
I'll provide several examples in my next article that will clearly illustrate real-life situations. That way, you will be able to more easily determine which course of action you should take and can save thousands of dollars in the process! There's no reason to pay tax when you don't have to!
Estate Tax Planning
The estate of a deceased person is subject to estate tax levied by the government. This tax is levied on his taxable estate, the value of which is arrived at by reducing his gross estate by something known as allowable deductions, where the gross estate is the total value of all the assets owned by the deceased at the time of his death. The allowable deductions are funeral expenses of the deceased that are paid out of his estate, marital deductions, deductions for payment to charity as expressed by the deceased, estate administration expenses, and outstanding debts at the time of death. The determination of the taxable estate is done by the IRS.
To arrive at the value of the assets, the fair market value is taken as the standard. The fair market value is the price that the assets fetch if sold in the open market. An option is given to the representative of the benefactor of choosing the date of the evaluation. It can either be the date on which the benefactor died or a date six months thereafter. The purpose is to give the benefit of a lower tax liability. The liability of estate tax arises with the death of the benefactor, and has to be paid within nine months of the date of death. It is incumbent upon the representative of the benefactor to file various forms related to the assets of the benefactor and the income derived therefrom.
Amongst these, two forms are very important: one is Form 706 that contains the details of all the assets, which cumulatively form the estate of the benefactor, and the second is Form 1041, which is meant to give the details of the income derived from the estate. However, all estates do not come under the estate tax net. At the moment, any estate that is less than the gross value of $2,000,000 is not subject to estate taxation. Looking at the structure of estate tax for the forthcoming years you will find the estate tax burden being reduced progressively each year, to be eliminated in the year 2010, and reinstated in 2011. The details are as under:
If the benefactor dies within 2006 to 2008, the exemption limit is $2m. For 2009, the exemption limit is raised to $3.5m, whereas 2010 will be an estate tax free year. In 2011, estate tax will be reinstated with a basic exemption limit of one million dollars and a maximum tax limit of 55%.
Estate tax is mandatory under law. However, the burden can be reduced through intelligent estate tax planning. There are several techniques that can be employed legally to allow a greater part of your assets to be transferred to your loved ones instead of serving to fill the coffers of the government through estate taxes. When you have decided whom you wish to benefit from your estate and by how much, instead of waiting for you demise, you could start gifting them amounts which do not attract gift tax in your lifetime. At present, a single individual can gift up to $12,000 in a year to one person without attracting gift tax. There is a lifetime exemption of $1m on gifts.
This means you can make unlimited numbers of $12000 gifts to various people in one calendar year. You just need to make sure that the gift(s) to a single recipient does not exceed $12000 in a year. The gifts can be made to one or more persons within the total limit of $1m in your lifetime without attracting gift tax. Apart from cash, the exemption limit also covers gifts in the form of a percentage of real estate, business, stocks etc.
Another way is to transfer assets to your spouse during your lifetime. According to the law, such transfers are free from gift or estate tax, irrespective of the value of the transferred asset. This tax benefit is permissible under a provision known as marital deduction, which is considered when the estate tax is calculated after your demise. But the assets will be subject to estate tax (if in excess of the exemption limit) on the demise of the surviving spouse, unless he/she remarries and transfers all assets to the new spouse. Another way would be to create a bypass trust in which the property is held in trust for minor children until they grow up, while continuing to provide for the surviving spouse. Bypass trusts can include insurance trusts, irrevocable trusts etc.
The Reasons Why Estate Planning Is So Important
Many people fail to understand the importance of estate planning. The fact is that if you die intestate, i.e. without making a will, all important decisions such as the raising of your children, the inheritance of real and personal property, and the administration of your estate will be done by the courts, and in the majority of cases your loved ones may have no option but to agree to a court appointed administrator. If there are minors among your heirs or someone who is mentally challenged, the problems increase manifold. Children and spouses from previous marriages further add to these complications.
In the absence of proper estate planning, many times when a second spouse survives, the children from the first spouse may end up with nothing, in spite of the wish of the deceased to provide for them. Or, under court orders, the children may get the bulk of the assets, leaving the surviving spouse in a state where she is unable to maintain the current standards of living. Or, imagine a situation where a husband and wife die together without leaving a will. For adjudication upon the issues of inheritance and administration of the estate, the State would have to decide who died first. The implications of a difference of a few minutes at the time of death can lead to drastically different results for the heirs. The heirs of the one to die first would be left high and dry. In case you do not have an estate plan or one that is properly drafted, all your hard work over so many years may go wasted, as the assets you acquired would be lost and your loved ones deprived of the benefits of your labor.
An estate plan would organize everything in order and not leave your heirs to rummage around searching for whatever papers they can find upon your death or if you become incapacitated. If there is no estate plan, they may not be sure if the documents they find are important, or up to date, or even complete. The only alternative for them then would be to take everything to a lawyer or some other professional in order to find out what he can make out of them. Small things like family heirlooms, or a rosewood table, or some other personal item may lead to squabbles and very unpleasant situations in the family. Even if you think you do not have much, it is important to take steps so that the people you want to benefit inherit your assets, and not be consumed by lawyer fees and estate taxes.
In case of your sudden disablement due to some medical condition, there has to be an arrangement in place for someone to automatically take over the management of your financial affairs. Only then will things continue smoothly, plus there being help for you and your loved ones. This can be ensured through a Durable Power of Attorney, without which even your lawfully wedded spouse will not be able to exercise any right to step in and take over. The Durable Power of Attorney will ensure that your bank accounts are not frozen, and will enable the smooth transfer of property to the rightful beneficiaries.
A properly drafted estate plan envisages all such possibilities and takes care to provide remedial measures, duly supported by legal documents wherever required, preventing problems for you and your family.
The above discourse makes it quite evident the import of having a proper estate plan. If you do not have one yet, you need to go about it while you are healthy and in a position to personally see to the preparation of the plan, as per your wishes.
A Tax Guide To Manage Your Estate Taxes Effectively
Estate taxes eat away a substantial portion of your estate if you are not careful to take necessary steps in time. It is absolutely essential for you to start planning at once if you have property valued above two million dollars. This is the current limit up to which no estate tax is applicable. Your heirs/beneficiaries will have to cough up 45 cents on every dollar that is over $2million dollars of your estate value. The good news is that this limit will rise to $3.5 million in 2009.
Even though it may at first appear that your estate is not big enough to land under the estate tax net, you may be surprised how many people like you can have property above the exemption limit when you take into account life insurance death benefits and savings in 401(K) accounts. If this is indeed your case also, you can make sure that your loved ones get the maximum of the outcome of your lifetime labor just by implementing some simple estate tax planning strategies now. Dont let the fruits of your hard labor go needlessly in government coffers.
Estate tax is proposed to be totally abolished from 2010. However, it is a sunset provision and needs legislative confirmation in 2011 otherwise the tax returns. As you can never be sure of political promises in view of perpetual economic and political changes, it is advisable to take proper steps to reduce the size of your taxable estate now.
Since your life insurance proceeds are subject to estate tax, set up an irrevocable life insurance trust which can own your policies. This can help avoid payment of estate tax. However, any existing policy transferred to the trust would still be counted in your estate till three years from the date of transfer.
Marital deduction allows you to transfer unlimited assets to your spouse without any tax implications to your estate. This leaves you free to move up to $1million to your grandchildren or to others through gifts without paying gift tax. Or you can bequest them up to $2million taking advantage of the estate tax exemption limit.
You are also individually entitled to give away any amount during your lifetime to pay for tuition or for medical expenses not covered by insurance. The payment has to go directly to an educational institution or a medical service provider. For example, you can pay say $20000 to a private college directly to cover only tuition expenses of your grandchild. This attracts no tax and does not affect your $1million gift tax exemption. You can additionally gift another $12000 towards his board, room, books, and other expenses without paying any gift tax. If your spouse is also a tax payer, the same entitlement would be available for him/her. So together, both can gift up to $24000 in a calendar year without paying gift tax.
Taxpaying married couples are entitled to estate tax exemption of $2million individually, which is $4 million together.
Many people fail to understand and take advantage of the full estate tax exemption. Since marital deduction lets property without any value limits to be transferred on death from one spouse to the other, they take no steps and lose the $2million exemption available on the first death. Even though the property passes without estate tax on the first death, it is taxable in the estate of the other spouse who dies at a later date. At that time, only one $2million exemption is available.
This position can be avoided if a bypass trust is formed on the death of one spouse. Through similar stipulations in separate wills of each spouse it can be ensured that the trust would come into existence on the death of any spouse who dies first.
The first death will lead to the creation of the bypass trust and transfer of assets up to the estate duty exemption limit of $2million to the trust. The corpus is to be distributed among kids who are to be the ultimate beneficiaries. The surviving spouse would have full access to the benefits/income from the trust during his/her lifetime and can even withdraw principle up to a certain limit each year. On the second death, the assets of the bypass trust are not counted in the assets of the second to die spouse and are not taxed. This way both exemptions are availed through a bypass trust.
Any residual property above the exemption limit can escape estate taxes by forming a Qualified Terminal Interest Property Trust(Q-TIP). This is formed along with the bypass trust and the whole thing is generally referred to as an A-B trust.
How Can Estate Planning Services Help You?
A carefully crafted estate plan can ensure that only your intended heirs or beneficiaries derive benefit from your estate. If you are unable to make a proper estate plan in time, it may also prove to be very costly in terms of heavy taxes. High estate taxes and administrative costs can consume a sizeable part of your estate with very little left to be passed on to your loved ones. This is surely not what you would want to happen to the fruits of a lifetime of hard labor. Estate taxes can be considerable. For 2007, the rate of estate taxation is 45%.
Professionals rendering estate-planning service can help organize an effective plan to let you transfer your assets to your heirs with the minimum of hassles. The plan would avoid needless tax payments and maximize the amount that your intended heirs receive cutting down costs and time. There may be undeserving heirs you would not like to be recipients of any part of what you leave behind. A proper plan can help you achieve this also.
Once you furnish the details of your business interests and other relevant financial information, an estate-planning professional can work with you to prepare your estate plan. These experts have extensive and specialized training focused on estate planning, tax and financial matters. Broad based experience with a solid financial background and innovative thinking enables them to protect your legacy and reduce taxes through a well-conceived estate tax plan appropriate to your individual situation.
As a preliminary step in the estate-planning process, your financial situation is reviewed and personal goals with respect to the estate plan are established. Usually detailed questionnaires along with personal interviews are used to collect the related data. The information sought relates primarily to the family structure and personal philosophy, values and objectives of the client. Realizing that the information shared is very sensitive and private in nature a high level of confidentiality is maintained.
Once the required data has been obtained, it is analyzed and evaluated to prepare a written report outlining your current financial condition and a proposed asset disposition plan in detail.
The report can consist of alternative techniques and strategies to enable estate tax savings and administrative costs that are in consonance with the stated goals. It takes care of the financial and tax analysis, and suggests alternative estate planning measures to be implemented. This allows you to decide what you are comfortable with and would like to implement.
After the direction in which to proceed for implementing the plan is settled, the actual implementation requires extensive documentation and other action to be taken. In view of the parameters of what an estate plan covers, the participation of your investment advisors, insurance advisors, attorney, and some other people in the implementation process becomes necessary. Professionals in estate tax planning would schedule meetings with these people and play an active role to ensure that appropriate professionals take all steps necessary to carry out proper implementation of the plan.
Since each estate plan is highly customized, quality estate planning services also provide periodical monitoring and review of the estate plan. In the face of constantly changing economical and tax regulations that affect your personal situation, appropriate revisions in the estate plan in line with such regulatory changes are accordingly done.
How Can Gifts Help You Reduce Your Estate Taxes?
US laws heavily tax the estate of a deceased person if the value of the estate exceeds certain limits. For the year 2007 and 2008 this limit is fixed at $2 million. 2009 will see this limit climbing to $3.5 million. The rate of taxation for the amount above the exemption limit is a flat 45%. Every dollar above the limit will lose 45 cents to estate taxes.
There are many ways to avoid or mitigate estate taxes. Transferring property through gifts is one of them. As a general rule, all gifts excluding certain exceptions are subject to gift tax. The exceptions for are :-
Gifts made to ones spouse
Gifts to political organizations for their use
Gifts to charities.
Gifts to cover someones tuition or medical expenses paid directly to an educational institution or medical service provider.
Gifts up to $12000 to a person in one calendar year. This is known as Annual Exclusion.
The lifetime exclusion limit for each taxpayer is $1million. Therefore, any number of $12000 gifts would remain non-taxable even if made in one calendar year but to different persons. You can lower the size of your estate during your lifetime through gifts to escape the estate tax net.
Gifts can be used in estate tax planning by using the annual gift exclusion. Although the annual exclusion limit of $12000 may not appear to be much on the face of it, it can serve to substantially lower the estate size over a period of time. Let us examine how it can do this.
You give $12000 dollars each year to a son/daughter/any other person and pay no tax. In this case, no gift tax return is to be filed. If married, the amount doubles as your spouse is entitled to make a non-taxable gift of a similar amount. This amounts to $24000 a year to a married couple. Now for a person with four children, who receive similar gifts, the amount would total to $96000 every year. When the children are married and the spouses also receive similar gifts the amount of the total non-taxable gift in a year comes to $192,000. This way over a period of five years, one can make TAX FREE transfer of wealth from the estate and lower its taxable value by a figure close to $1Million!
Considering this $1million to be above the estate tax exemption limit, at present rates it would attract an estate tax of $450,000 if allowed to pass on to heirs by inheritance after death.
As already discussed, a married couple can make tax-free gifts of $24000 each calendar year. Even when the gift amount is not evenly contributed by them, they can still make a taxless gift up to that amount by taking advantage of the gift splitting provision.
Both partners must agree to take advantage of gift splitting and each will have to file a gift tax return by filling form 709. Both returns need to be filed even when Below the Exemption Limit Share of one partner does not require a return to be filed in the usual course. Let us examine how this works.
A married couple A and B together gift a total of $39000 to two persons. A gifts $21000 to his nephew C and B gifts $18000 to her niece D. Both gifts are above $12000 and liable for gift tax.
By filling Form 709 for Gift Splitting, As $21000 is treated as being given in equal amounts of $10,500 both to C and D which is within exemption limits. Similarly, Bs $18000 is again treated as being given in equal amounts of $9,000 each to C and D that is within exemption limits. This way a substantial gift tax that would otherwise have been payable on both the gifts is saved through gift splitting.
You can also make gifts without any limits to your spouse without any tax being applicable. This would lower your estate tax liability and can even eliminate it if it can lower the size of your estate to that extent. However, the amount would be taxable in the estate of your spouse on his/her death if the estate were larger than the exemption limit unless suitable plans are implemented before the second death to take care of applicable estate taxes. Other non-taxable gifts mention earlier can also help reduce estate taxes through proper use.
Tips To Curtail Your Estate Taxes
If a person dies possessed of property, the law imposed estate tax if the property has a fair market value above $2 million. Property valued less than that is not subject to estate tax. Estate tax is levied both at the federal and state levels. The high rate of taxation takes away nearly forty-five percent of the estate of the deceased. Most people suffer such high taxes because they are unaware of the ways and tax planning techniques that can avoid or help to considerably reduce the estate tax burden.
There are no federal estate tax structure of two million dollars in 2007 will rise to 3.5 million in 2009 and will be totally eliminated in 2010. 2011 may find estate tax back with an exemption limit of $1000000 if the Congress does not pass a law for a full repeal.
At present, there are some steps that a person can take to effectively reduce estate taxes that may be applicable to his estate after his demise.
a) Take advantage of the estate tax exemption twice- If married, each spouse is entitled to an exemption of $2 million dollars on estate tax. This means that the total exemption available to a couple is $4 million. Usually people do not take any steps before the death of one partner and all assets automatically pass on to the other at the first death by virtue of the provision of marital deduction. Since there is no limit on marital deduction, there is no estate tax payable whatever be the size of the estate. However, the exemption of $2 million is wasted .
On the death of the surviving spouse, the entire estate is taxed, allowing an exemption of just the $2million attributable to the last dying spouse. With due planning, one can form a family trust which will allow availing the benefit of the $2 million exemption available to the spouse who died first giving a total exemption of $4 million.
b) Form a life insurance trust- Proceeds from a life insurance policy are subject to estate tax. By establishing a life insurance trust, a person other than the insured is made the owner of the policy. Usually it is the spouse or child or any other beneficiary. When the insured dies, this owner/beneficiary/trustee invests the trust funds i.e. the insurance proceeds and manages the trust for the benefit of other beneficiaries. Forming an insurance trust can cost below $1000 but can save substantially on estate tax, which can take away nearly half the proceeds if the size of the estate is above the exemption limit.
c) Gift part of your estate- If you are in an advanced age and have lifestyle and expenditure that is within your means, it may be sensible make gifts out of your estate to the people you intend leaving your estate to when you are no more. This would greatly reduce the size of the estate and may bring it within the limits of exemption. This technique may not be proper if you are still young would like your kids to benefit from inheritance in other ways.
d) Form a family liability company- This technique can be combined with the exemptions on gifts to effectively provide a solution to avoid paying estate taxes. If you have a business or property valued at say one million dollars, you can create a Family Limited Liability company where you contribute the property exchanging it for limited liability ownership units. If you break it into one hundred and fifty membership units each is valued at about $6667. These units would be eligible for marketability and/or minority discounts. When you gift these units, you can bring down the value of annual gifts within the exclusion limits by applying these discounts.
For example, when you gift two units to a child, the child would come to have a minority interest in the company. In addition, unlike publicly traded shares there is no real market for the units. Therefore discounts can be applied to the gift to bring their value within the exemption limit of $12000 even though the total value of the gifted units would appear be (6667 x 2) $13,333. These are advanced techniques and should be considered only in consultation with an expert in estate taxes.
These are just some of the ways to save estate taxes. Your estate lawyer would be able to provide you with more/apt solutions that may be suitable to your situation.
Using Trust As An Estate Planning Tool
Ask any financial planner or an estate attorney, and the chances are that he/she will recommend going for a "Living Trust", or an "Inter-Vivos Trust" for complete estate planning. In many states, like California for example, a living trust, in most cases, would not require judicial intervention, better known as probate. This will saves you from increased costs that are incurred due to legalities. Living Trusts are highly suitable and recommended for estates of moderate size. This can be the assets of $300,000 or more for single person, and $500,000 for married person.
Primary Benefits of a Living Trust
. No probate or the resultant costs, for both single and married persons.
. Up to $ 1.0 million in exemption for married persons, which is slated to increase over the period of years
. You can select trustees (either trust companies, or individuals that you have confidence in) to take care, and handle the estate either in your absence, or inability, or death
Other Benefits
While these benefits are not applicable to everyone, the true advantage will be substantial. Here are some of the more indirect, but important benefits, depending on your conditions.
. A trust can help you protect your assets that are put under the trust, from creditors.
. Transferring assets to a disabled or handicapped, or a mentally challenged child via Special Needs Trust is very beneficial. This will ensure that your help is only meant to take care of the supplementary, and the long term need of such a child, so that the child continues to receive the basic state aid. With a Special Needs Trust, the beneficiary will continue to receive state aid like Supplementary Security Income, Medical Insurance, and Long Term Medial Coverage.
. A trust can be used to avoid taxation of life insurance proceeds, which can increase the proceeds available to your child by as much as 50%.
. Trusts can be used to pass property to children for the benefit of grandchildren, so as to avoid estate tax, and gift tax upon the death of your children. This can be done upto the extent permitted in your particular case, under the generation skipping transfer tax rules.
Tips to Reduce Estate and Gift tax
When you from a trust for the property that you intend to gift someone, you still retain the control of the property. Such a property gifted is a share, unit, or a percentage interest in a larger property. Here, the control to manage the property is vested with the trustee, or a general partner, or a manager. Many sophisticated techniques can be used wherein a "fractionalized" interest (like minority share of stock, or a minority partner interest) is gifted. This can be done by law at a lower value than the actual percentage ownership. Such a reduction in the valuation is called a "valuation discount".
Now as the value of the "taxable gift" is reduced, the amount of gift or estate tax payable is also correspondingly reduced. In a community property state, husbands and wives are entitled to "valuation discounts", and so are unmarried couples, partners, or singles that hold property interests as partners.
Estate Tax Planning
The estate of a deceased person is subject to estate tax levied by the government. This tax is levied on his taxable estate, the value of which is arrived at by reducing his gross estate by something known as allowable deductions, where the gross estate is the total value of all the assets owned by the deceased at the time of his death. The allowable deductions are funeral expenses of the deceased that are paid out of his estate, marital deductions, deductions for payment to charity as expressed by the deceased, estate administration expenses, and outstanding debts at the time of death. The determination of the taxable estate is done by the IRS.
To arrive at the value of the assets, the fair market value is taken as the standard. The fair market value is the price that the assets fetch if sold in the open market. An option is given to the representative of the benefactor of choosing the date of the evaluation. It can either be the date on which the benefactor died or a date six months thereafter. The purpose is to give the benefit of a lower tax liability. The liability of estate tax arises with the death of the benefactor, and has to be paid within nine months of the date of death. It is incumbent upon the representative of the benefactor to file various forms related to the assets of the benefactor and the income derived therefrom.
Amongst these, two forms are very important: one is Form 706 that contains the details of all the assets, which cumulatively form the estate of the benefactor, and the second is Form 1041, which is meant to give the details of the income derived from the estate. However, all estates do not come under the estate tax net. At the moment, any estate that is less than the gross value of $2,000,000 is not subject to estate taxation. Looking at the structure of estate tax for the forthcoming years you will find the estate tax burden being reduced progressively each year, to be eliminated in the year 2010, and reinstated in 2011. The details are as under:
If the benefactor dies within 2006 to 2008, the exemption limit is $2m. For 2009, the exemption limit is raised to $3.5m, whereas 2010 will be an estate tax free year. In 2011, estate tax will be reinstated with a basic exemption limit of one million dollars and a maximum tax limit of 55%.
Estate tax is mandatory under law. However, the burden can be reduced through intelligent estate tax planning. There are several techniques that can be employed legally to allow a greater part of your assets to be transferred to your loved ones instead of serving to fill the coffers of the government through estate taxes. When you have decided whom you wish to benefit from your estate and by how much, instead of waiting for you demise, you could start gifting them amounts which do not attract gift tax in your lifetime. At present, a single individual can gift up to $12,000 in a year to one person without attracting gift tax. There is a lifetime exemption of $1m on gifts.
This means you can make unlimited numbers of $12000 gifts to various people in one calendar year. You just need to make sure that the gift(s) to a single recipient does not exceed $12000 in a year. The gifts can be made to one or more persons within the total limit of $1m in your lifetime without attracting gift tax. Apart from cash, the exemption limit also covers gifts in the form of a percentage of real estate, business, stocks etc.
Another way is to transfer assets to your spouse during your lifetime. According to the law, such transfers are free from gift or estate tax, irrespective of the value of the transferred asset. This tax benefit is permissible under a provision known as marital deduction, which is considered when the estate tax is calculated after your demise. But the assets will be subject to estate tax (if in excess of the exemption limit) on the demise of the surviving spouse, unless he/she remarries and transfers all assets to the new spouse. Another way would be to create a bypass trust in which the property is held in trust for minor children until they grow up, while continuing to provide for the surviving spouse. Bypass trusts can include insurance trusts, irrevocable trusts etc.
The Reasons Why Estate Planning Is So Important
Many people fail to understand the importance of estate planning. The fact is that if you die intestate, i.e. without making a will, all important decisions such as the raising of your children, the inheritance of real and personal property, and the administration of your estate will be done by the courts, and in the majority of cases your loved ones may have no option but to agree to a court appointed administrator. If there are minors among your heirs or someone who is mentally challenged, the problems increase manifold. Children and spouses from previous marriages further add to these complications.
In the absence of proper estate planning, many times when a second spouse survives, the children from the first spouse may end up with nothing, in spite of the wish of the deceased to provide for them. Or, under court orders, the children may get the bulk of the assets, leaving the surviving spouse in a state where she is unable to maintain the current standards of living. Or, imagine a situation where a husband and wife die together without leaving a will. For adjudication upon the issues of inheritance and administration of the estate, the State would have to decide who died first. The implications of a difference of a few minutes at the time of death can lead to drastically different results for the heirs. The heirs of the one to die first would be left high and dry. In case you do not have an estate plan or one that is properly drafted, all your hard work over so many years may go wasted, as the assets you acquired would be lost and your loved ones deprived of the benefits of your labor.
An estate plan would organize everything in order and not leave your heirs to rummage around searching for whatever papers they can find upon your death or if you become incapacitated. If there is no estate plan, they may not be sure if the documents they find are important, or up to date, or even complete. The only alternative for them then would be to take everything to a lawyer or some other professional in order to find out what he can make out of them. Small things like family heirlooms, or a rosewood table, or some other personal item may lead to squabbles and very unpleasant situations in the family. Even if you think you do not have much, it is important to take steps so that the people you want to benefit inherit your assets, and not be consumed by lawyer fees and estate taxes.
In case of your sudden disablement due to some medical condition, there has to be an arrangement in place for someone to automatically take over the management of your financial affairs. Only then will things continue smoothly, plus there being help for you and your loved ones. This can be ensured through a Durable Power of Attorney, without which even your lawfully wedded spouse will not be able to exercise any right to step in and take over. The Durable Power of Attorney will ensure that your bank accounts are not frozen, and will enable the smooth transfer of property to the rightful beneficiaries.
A properly drafted estate plan envisages all such possibilities and takes care to provide remedial measures, duly supported by legal documents wherever required, preventing problems for you and your family.
The above discourse makes it quite evident the import of having a proper estate plan. If you do not have one yet, you need to go about it while you are healthy and in a position to personally see to the preparation of the plan, as per your wishes.
A Tax Guide To Manage Your Estate Taxes Effectively
Estate taxes eat away a substantial portion of your estate if you are not careful to take necessary steps in time. It is absolutely essential for you to start planning at once if you have property valued above two million dollars. This is the current limit up to which no estate tax is applicable. Your heirs/beneficiaries will have to cough up 45 cents on every dollar that is over $2million dollars of your estate value. The good news is that this limit will rise to $3.5 million in 2009.
Even though it may at first appear that your estate is not big enough to land under the estate tax net, you may be surprised how many people like you can have property above the exemption limit when you take into account life insurance death benefits and savings in 401(K) accounts. If this is indeed your case also, you can make sure that your loved ones get the maximum of the outcome of your lifetime labor just by implementing some simple estate tax planning strategies now. Dont let the fruits of your hard labor go needlessly in government coffers.
Estate tax is proposed to be totally abolished from 2010. However, it is a sunset provision and needs legislative confirmation in 2011 otherwise the tax returns. As you can never be sure of political promises in view of perpetual economic and political changes, it is advisable to take proper steps to reduce the size of your taxable estate now.
Since your life insurance proceeds are subject to estate tax, set up an irrevocable life insurance trust which can own your policies. This can help avoid payment of estate tax. However, any existing policy transferred to the trust would still be counted in your estate till three years from the date of transfer.
Marital deduction allows you to transfer unlimited assets to your spouse without any tax implications to your estate. This leaves you free to move up to $1million to your grandchildren or to others through gifts without paying gift tax. Or you can bequest them up to $2million taking advantage of the estate tax exemption limit.
You are also individually entitled to give away any amount during your lifetime to pay for tuition or for medical expenses not covered by insurance. The payment has to go directly to an educational institution or a medical service provider. For example, you can pay say $20000 to a private college directly to cover only tuition expenses of your grandchild. This attracts no tax and does not affect your $1million gift tax exemption. You can additionally gift another $12000 towards his board, room, books, and other expenses without paying any gift tax. If your spouse is also a tax payer, the same entitlement would be available for him/her. So together, both can gift up to $24000 in a calendar year without paying gift tax.
Taxpaying married couples are entitled to estate tax exemption of $2million individually, which is $4 million together.
Many people fail to understand and take advantage of the full estate tax exemption. Since marital deduction lets property without any value limits to be transferred on death from one spouse to the other, they take no steps and lose the $2million exemption available on the first death. Even though the property passes without estate tax on the first death, it is taxable in the estate of the other spouse who dies at a later date. At that time, only one $2million exemption is available.
This position can be avoided if a bypass trust is formed on the death of one spouse. Through similar stipulations in separate wills of each spouse it can be ensured that the trust would come into existence on the death of any spouse who dies first.
The first death will lead to the creation of the bypass trust and transfer of assets up to the estate duty exemption limit of $2million to the trust. The corpus is to be distributed among kids who are to be the ultimate beneficiaries. The surviving spouse would have full access to the benefits/income from the trust during his/her lifetime and can even withdraw principle up to a certain limit each year. On the second death, the assets of the bypass trust are not counted in the assets of the second to die spouse and are not taxed. This way both exemptions are availed through a bypass trust.
Any residual property above the exemption limit can escape estate taxes by forming a Qualified Terminal Interest Property Trust(Q-TIP). This is formed along with the bypass trust and the whole thing is generally referred to as an A-B trust.
How Can Estate Planning Services Help You?
A carefully crafted estate plan can ensure that only your intended heirs or beneficiaries derive benefit from your estate. If you are unable to make a proper estate plan in time, it may also prove to be very costly in terms of heavy taxes. High estate taxes and administrative costs can consume a sizeable part of your estate with very little left to be passed on to your loved ones. This is surely not what you would want to happen to the fruits of a lifetime of hard labor. Estate taxes can be considerable. For 2007, the rate of estate taxation is 45%.
Professionals rendering estate-planning service can help organize an effective plan to let you transfer your assets to your heirs with the minimum of hassles. The plan would avoid needless tax payments and maximize the amount that your intended heirs receive cutting down costs and time. There may be undeserving heirs you would not like to be recipients of any part of what you leave behind. A proper plan can help you achieve this also.
Once you furnish the details of your business interests and other relevant financial information, an estate-planning professional can work with you to prepare your estate plan. These experts have extensive and specialized training focused on estate planning, tax and financial matters. Broad based experience with a solid financial background and innovative thinking enables them to protect your legacy and reduce taxes through a well-conceived estate tax plan appropriate to your individual situation.
As a preliminary step in the estate-planning process, your financial situation is reviewed and personal goals with respect to the estate plan are established. Usually detailed questionnaires along with personal interviews are used to collect the related data. The information sought relates primarily to the family structure and personal philosophy, values and objectives of the client. Realizing that the information shared is very sensitive and private in nature a high level of confidentiality is maintained.
Once the required data has been obtained, it is analyzed and evaluated to prepare a written report outlining your current financial condition and a proposed asset disposition plan in detail.
The report can consist of alternative techniques and strategies to enable estate tax savings and administrative costs that are in consonance with the stated goals. It takes care of the financial and tax analysis, and suggests alternative estate planning measures to be implemented. This allows you to decide what you are comfortable with and would like to implement.
After the direction in which to proceed for implementing the plan is settled, the actual implementation requires extensive documentation and other action to be taken. In view of the parameters of what an estate plan covers, the participation of your investment advisors, insurance advisors, attorney, and some other people in the implementation process becomes necessary. Professionals in estate tax planning would schedule meetings with these people and play an active role to ensure that appropriate professionals take all steps necessary to carry out proper implementation of the plan.
Since each estate plan is highly customized, quality estate planning services also provide periodical monitoring and review of the estate plan. In the face of constantly changing economical and tax regulations that affect your personal situation, appropriate revisions in the estate plan in line with such regulatory changes are accordingly done.
How Can Gifts Help You Reduce Your Estate Taxes?
US laws heavily tax the estate of a deceased person if the value of the estate exceeds certain limits. For the year 2007 and 2008 this limit is fixed at $2 million. 2009 will see this limit climbing to $3.5 million. The rate of taxation for the amount above the exemption limit is a flat 45%. Every dollar above the limit will lose 45 cents to estate taxes.
There are many ways to avoid or mitigate estate taxes. Transferring property through gifts is one of them. As a general rule, all gifts excluding certain exceptions are subject to gift tax. The exceptions for are :-
Gifts made to ones spouse
Gifts to political organizations for their use
Gifts to charities.
Gifts to cover someones tuition or medical expenses paid directly to an educational institution or medical service provider.
Gifts up to $12000 to a person in one calendar year. This is known as Annual Exclusion.
The lifetime exclusion limit for each taxpayer is $1million. Therefore, any number of $12000 gifts would remain non-taxable even if made in one calendar year but to different persons. You can lower the size of your estate during your lifetime through gifts to escape the estate tax net.
Gifts can be used in estate tax planning by using the annual gift exclusion. Although the annual exclusion limit of $12000 may not appear to be much on the face of it, it can serve to substantially lower the estate size over a period of time. Let us examine how it can do this.
You give $12000 dollars each year to a son/daughter/any other person and pay no tax. In this case, no gift tax return is to be filed. If married, the amount doubles as your spouse is entitled to make a non-taxable gift of a similar amount. This amounts to $24000 a year to a married couple. Now for a person with four children, who receive similar gifts, the amount would total to $96000 every year. When the children are married and the spouses also receive similar gifts the amount of the total non-taxable gift in a year comes to $192,000. This way over a period of five years, one can make TAX FREE transfer of wealth from the estate and lower its taxable value by a figure close to $1Million!
Considering this $1million to be above the estate tax exemption limit, at present rates it would attract an estate tax of $450,000 if allowed to pass on to heirs by inheritance after death.
As already discussed, a married couple can make tax-free gifts of $24000 each calendar year. Even when the gift amount is not evenly contributed by them, they can still make a taxless gift up to that amount by taking advantage of the gift splitting provision.
Both partners must agree to take advantage of gift splitting and each will have to file a gift tax return by filling form 709. Both returns need to be filed even when Below the Exemption Limit Share of one partner does not require a return to be filed in the usual course. Let us examine how this works.
A married couple A and B together gift a total of $39000 to two persons. A gifts $21000 to his nephew C and B gifts $18000 to her niece D. Both gifts are above $12000 and liable for gift tax.
By filling Form 709 for Gift Splitting, As $21000 is treated as being given in equal amounts of $10,500 both to C and D which is within exemption limits. Similarly, Bs $18000 is again treated as being given in equal amounts of $9,000 each to C and D that is within exemption limits. This way a substantial gift tax that would otherwise have been payable on both the gifts is saved through gift splitting.
You can also make gifts without any limits to your spouse without any tax being applicable. This would lower your estate tax liability and can even eliminate it if it can lower the size of your estate to that extent. However, the amount would be taxable in the estate of your spouse on his/her death if the estate were larger than the exemption limit unless suitable plans are implemented before the second death to take care of applicable estate taxes. Other non-taxable gifts mention earlier can also help reduce estate taxes through proper use.
Tips To Curtail Your Estate Taxes
If a person dies possessed of property, the law imposed estate tax if the property has a fair market value above $2 million. Property valued less than that is not subject to estate tax. Estate tax is levied both at the federal and state levels. The high rate of taxation takes away nearly forty-five percent of the estate of the deceased. Most people suffer such high taxes because they are unaware of the ways and tax planning techniques that can avoid or help to considerably reduce the estate tax burden.
There are no federal estate tax structure of two million dollars in 2007 will rise to 3.5 million in 2009 and will be totally eliminated in 2010. 2011 may find estate tax back with an exemption limit of $1000000 if the Congress does not pass a law for a full repeal.
At present, there are some steps that a person can take to effectively reduce estate taxes that may be applicable to his estate after his demise.
a) Take advantage of the estate tax exemption twice- If married, each spouse is entitled to an exemption of $2 million dollars on estate tax. This means that the total exemption available to a couple is $4 million. Usually people do not take any steps before the death of one partner and all assets automatically pass on to the other at the first death by virtue of the provision of marital deduction. Since there is no limit on marital deduction, there is no estate tax payable whatever be the size of the estate. However, the exemption of $2 million is wasted .
On the death of the surviving spouse, the entire estate is taxed, allowing an exemption of just the $2million attributable to the last dying spouse. With due planning, one can form a family trust which will allow availing the benefit of the $2 million exemption available to the spouse who died first giving a total exemption of $4 million.
b) Form a life insurance trust- Proceeds from a life insurance policy are subject to estate tax. By establishing a life insurance trust, a person other than the insured is made the owner of the policy. Usually it is the spouse or child or any other beneficiary. When the insured dies, this owner/beneficiary/trustee invests the trust funds i.e. the insurance proceeds and manages the trust for the benefit of other beneficiaries. Forming an insurance trust can cost below $1000 but can save substantially on estate tax, which can take away nearly half the proceeds if the size of the estate is above the exemption limit.
c) Gift part of your estate- If you are in an advanced age and have lifestyle and expenditure that is within your means, it may be sensible make gifts out of your estate to the people you intend leaving your estate to when you are no more. This would greatly reduce the size of the estate and may bring it within the limits of exemption. This technique may not be proper if you are still young would like your kids to benefit from inheritance in other ways.
d) Form a family liability company- This technique can be combined with the exemptions on gifts to effectively provide a solution to avoid paying estate taxes. If you have a business or property valued at say one million dollars, you can create a Family Limited Liability company where you contribute the property exchanging it for limited liability ownership units. If you break it into one hundred and fifty membership units each is valued at about $6667. These units would be eligible for marketability and/or minority discounts. When you gift these units, you can bring down the value of annual gifts within the exclusion limits by applying these discounts.
For example, when you gift two units to a child, the child would come to have a minority interest in the company. In addition, unlike publicly traded shares there is no real market for the units. Therefore discounts can be applied to the gift to bring their value within the exemption limit of $12000 even though the total value of the gifted units would appear be (6667 x 2) $13,333. These are advanced techniques and should be considered only in consultation with an expert in estate taxes.
These are just some of the ways to save estate taxes. Your estate lawyer would be able to provide you with more/apt solutions that may be suitable to your situation.
