The Blatt Watch by Peter Blatt: Durable Power of Attorney Change of Law

Change of Law: If you have not updated or created a new durable power of attorney since October 2011 in Florida you need to act as soon as possible. Your old power of attorney may not work!

If you become disabled, who will help you maintain your lifestyle? You need a Durable Power Attorney!

The Durable Power of Attorney statute has been completely modified/ revamped in October 2011.

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The Blatt Watch by Peter Blatt: How the Government Plans to Tax Our Investments Now

You have only 150 days left until the new tax laws come into effect. The health care law has been declared constitutional; the remaining provisions will be going into effect. One little known provision is a new 3.8% investment income surtax, also called the health care surtax or the Medicare tax; it will go into effect on January 1, 2013.

This new surtax will be assessed on the lesser of a) net investment income or b) the excess of modified adjusted gross income (MAGI) over the “threshold amount.” For married taxpayers filing jointly, the threshold amount is $250,000; married filing separately, $125,000; all other individual taxpayers, $200,000. For trusts and estates, it is the beginning of the top income tax bracket ($11,650 in 2012).

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