Ask Ellaine

My name is Ellaine Sambo-Reyther and I am a Director of Trust & Estate Advisory Services for Harris Private Bank. I am privileged to serve on the Board of Directors for Wellness Place and am an advocate for the great works done for those experiencing cancer. I also provide a column for the Wellness Place calendar called “Ask Ellaine” focused upon subjects such as trusts, estate and investment portfolio reviews and charitable giving opportunities. If you have questions you’d like addressed you can contact me at the number below or send an email to the address listed. I’d love to help and will answer as best I can.

Please take advantage of the many services and programs we have to offer at Wellness Place. We are here for you, your family and caregivers. Let others know about this vital community asset available at no charge for those living with cancer.

Ellaine
Ellaine Sambo-Reyther
847.756.5543 or ellaine.sambo@harrisbank.com

Harris Private Bank is a trade name used by various financial service providers in the BMO Harris Bank N.A Banking products and services offered by Harris Private Bank are provided by BMO Harris Bank N.A. and their bank affiliates. Member FDIC.

United States Department of Treasury Regulation Circular 230 requires that we notify you that this information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Harris Bank N.A. and its affiliates do not provide legal advice to clients. You should review your particular circumstances with your independent legal and tax advisors.

Ask Ellaine

What is the best way to make a charitable gift using my will?

By LeeAnn - 4/2/2012 There are several methods for doing so but the easiest, most direct way is through an outright bequest of cash. This method is especially appropriate when the amount of the gift will be relatively small, or when your gift will be issued with “no strings attached.” And it’s easy to do.

What should I know when considering my charitable giving intentions for 2012?

By LeeAnn - 1/4/2012 Happy New Year! Now that the holiday season has come and gone, just about as fast as 2011 has zipped before our eyes, it is now time to plan for 2012!

How should I handle my estate and tax planning in light of the changes in the tax laws?

By LeeAnn - 4/28/2011 For those of us who were holding our breath due to the uncertainty of estate tax laws, the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Tax Relief Act) provided a much needed sigh of relief, effectually extending our tax-planning window through 2012.

Tax Changes Scheduled to take Affect in 2011

By LeeAnn - 12/20/2010 Happy New Year! Now that the hustle and bustle of the holiday season has passed, it’s time to plan for tax changes scheduled to take effect in 2011*: • Marginal tax rates on ordinary income are scheduled to rise to a maximum rate of 39.6% and the low 10% bracket is eliminated. • The federal estate tax is revived returning with a $1 million exemption and a 50% maximum rate. • Marginal tax rates on capital gains are scheduled to rise to 20%. • Taxes on qualified dividends will be taxed as ordinary income at your highest marginal tax rate.

How should I handle my estate plan in light of the changes in estate tax laws? - Oct/Nov/Dec 2010

By LeeAnn - 9/20/2010 It’s hard to know how to react to the uncertainty presented by the current estate tax situation. Should you change your estate plan and update your estate planning documents when it’s possible that your existing plan will once again be appropriate in 2011, or even sooner? For many the answer is no, but for a few the answer is definitely yes.

What’s the best way to make a charitable gift through my will? - Apr/May/Jun 2010

By Admin - 3/10/2010 There are, several methods for doing so, but the easiest, most direct way is through an outright bequest of cash. This method is especially appropriate when the amount of the gift will be relatively small, or when your gift will be issued with “no strings attached.” And it’s easy to do. To make a cash bequest, simply include a short paragraph in your will, naming the charitable beneficiary and stating the amount of your gift. Other methods for creating charitable gifts include: