Brought to you by:
Jeffrey N. Schweitzer, EPA, CEP, ATP
Northeast Financial Strategies Inc
667 South Street
Wrentham, MA 02093

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About Our Firm:
Offering Financial & Estate Planning, Investments, Insurance, Accounting, Payroll, and Income Tax Preparation for Individuals & Small Business. "Financial Strategies That Fit YOUR Needs!"
QUOTES from the Masters...
On Perseverance/Persistence On Success
"Some people plant in the spring and leave in the summer.  If you've signed up for a season, see it through.  You don't have to stay forever, but at least stay until you see it through." -- Jim Rohn

"What this power is I cannot say; all I know is that it exists and it becomes available only when a man is in that state of mind in which he knows exactly what he wants and is fully determined not to quit until he finds it." -- Alexander Graham Bell

"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all." – Dale Carnegie

"Success is not to be pursued; it is to be attracted by the person you become." -- Jim Rohn

"When you identify something that you do well, that you enjoy doing, and that supports the values that are important to you, you have defined success in your terms." -– Nido Qubein

"The measure of success is not whether you have a tough problem to deal with, but whether it's the same problem you had last year." -- John Foster Dulles

  Estate Ideas

Looking Ahead…Federal Estate and Gift Taxation

The 2010 Tax Relief Act brings a degree of certainty to estate and gift tax planning, but only for 2011 and 2012.  The Act contains a "sunset" provision, meaning that the following estate and gift tax provisions in the 2010 Tax Relief Act terminate at the end of 2012.  Without future Congressional action, beginning in 2013, federal estate and gift tax rules will revert to those in effect in 2001. 

The temporary 2011 – 2012 estate and gift tax regime includes the following:

  • The federal estate and gift tax is reunified, with a maximum tax rate of 35% and an exclusion amount of $5 million:
  • The $5 million unified credit exemption equivalent will be adjusted for inflation in 2012.
  • The step-up in basis rules for valuing assets at death are restored.
  •  The 2010 Tax Relief Act provides for "portability" of the maximum estate tax unified credit between spouses.  This means that a surviving spouse can elect to take advantage of any unused portion of the estate tax unified credit of his or her predeceased spouse.  As a result, with this election and careful estate planning, married couples can effectively shield up to $10 million from the federal tax.
  • The 2010 Tax Relief Act provides a $5 million generation-skipping transfer tax exemption, with a maximum generation-skipping tax rate of 35%.

Without future Congressional action, beginning in 2013:

  • The estate and gift tax provisions in the 2010 Tax Relief Act "sunset" or terminate at the end of 2012, in which case 2001 tax rules will be reinstated:
  • Estate and gift taxation will be at the 2001 federal estate and gift tax rates with maximum tax rate of 55% and a $1 million exemption equivalent.
  • The unified credit and exemption equivalent will not be adjusted for inflation.
  • The step-up in basis rules for valuing assets at death are retained.
  • "Portability" of the maximum estate tax unified credit between spouses will no longer be available.
  • Generation-skipping transfer taxation will return to 2001 levels.  

If you would like additional information on how specific provisions of the 2010 Tax Relief Act might impact your planning, please call my office.


MESSAGES from the Masters...

First of all, I am not a psychologist.  HOWEVER, I am something BETTER... 

I have over 50 years experience from: 

  •  Watching, 
  •  Asking questions, 
  •  Taking risks, 
  •  Facing obstacles...
  •  Plus the most important thing: 
  •  Praying and asking God for WISDOM & UNDERSTANDING!!
From this lifetime accumulation, I have learned the following to be ABSOLUTES concerning people:

1. People act in their own self-interests!  I have never perceived this as bad. I believe we are inherently made that way.

2. There are only TWO REASONS that ninety-nine percent of the time anyone does anything: 1) Either to gain a benefit, or 2) To avoid a loss.

3. There is no Santa Claus! (He ain't comin'!) And yet, it's sad to say, so many people are sitting around in their offices procrastinating, making excuses, thinking that something magical is going to appear.

4. There ain't no free lunch! Too many young people have developed a "lottery mentality"...If they could just hit the BIG one! The truth is, we are only going to get what we go after...inch by inch...step by by day. 

5. Everybody has a hot button! The only way we know where it is and what it is, is to ask questions, listen, and be empathetic, seeing things from their point of view. What is your hot button?

6. You must be sensitive and empathetic. Empathy is the imaginative projection of yourself in the other person's shoes.

People respond to those who have loving attitudes.  This means thinking more highly of others than yourself...putting other people first.


If you can master the above, and go out of your way to articulate and communicate it, with a golden-rule philosophy...doing unto others as you would have them do to you...then I promise you that the world will become your cornucopia and you will set records you didn't try to set!  You will achieve goals beyond your wildest expectations, and the LAW OF COMPENSATION will pass your office when you least expect it!

We don't want to add to your e-mail clutter!  If you do not enjoy my newsletter, just reply to this e-mail and ask to be removed or call my office.  Thanks!

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals.  The information provided is general in nature and should not be considered complete information on any product or concept described.  For more complete information, please contact my office at the phone number above. 

Published by The Virtual Assistant; 2011 VSA, LP