Longtime broadcaster of Turner Sports, Jim Hubert, passed away on January 2, 2012, at the age of 67. The broadcasting legend resided in Atlanta at the time of his death. Hubert, who won an Emmy for an essay joined Turner Sports full time in 2000 and frequently announced professional golf matches and NBA games. Before joining Turner Sports, Hubert served as an anchor and reporter for CNN/Sports Illustrated. Huber is survived by his wife, Carol, and son, Matt. Full article.
Under President Obama’s Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, the 2012 estate tax allows for a total exemption of $5,120,000. This means that estates will be taxed at 35% on all amounts over $5.12 million. Anything above $5.12 million is subject to estate taxes. It is important to know that estate taxes are due to the IRS only 9 months from date of death. In many cases, heirs and loved ones are forced to sell personal property, real property, and other belongings at below market value to pay for this huge tax bill.
The attorneys at Leeds, Morelli & Brown, P.C. have worked with a variety of families in Nassau and Suffolk counties, Manhattan, Queens, Brooklyn, Bronx, and Staten Island. For questions regarding estate planning, please contact an attorney at the Leeds Brown Law, P.C. law firm for a free consultation at 1-888-556-2529 or visit the firm’s website at www.lbestatelaw.com.