Word: shelterer
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...most salient memories. Many will dismiss them as isolated incidents, unrepresentative of Harvard life. Of course, I could include other, more general observations: that most friendship circles fall within the same tax bracket, that most student government "progressives" have never spent an hour volunteering at a shelter, and that most of our fellow students would readily stab us in the back in order to climb the extracurricular ladder. It is true that my indictment does not impugn every individual here. But, I am deeply certain that my portrait does accurately represent the culture of Harvard...
...homeless man, William Mitchell, was arrested for allegedly head-butting a Cambridge Police Department (CPD) officer. The officer had responded to a call that Mitchell was causing a disturbance at the shelter there...
...death tax, the amount the Federal Government lifts from your estate before heirs get what's coming to them. Nice thought. Estate taxes can be whoppers. The maximum rate--on estates over $3 million--is 55%. Even the lowest rate is stiff: 37% on everything you're unable to shelter...
...worth noting that 97% of the population will never owe a dime in estate tax. The lifetime exemption this year and next is $675,000 per person and goes to $1 million in 2006. Married couples can easily shelter twice that amount--sums most people only dream of. Meanwhile, virtually everyone can benefit from a written will, a living will and a durable power of attorney. With each, the idea is to keep potential disputes out of court, where legal costs eat into your heirs' good fortune...
Elementary, of course, is that married couples should take full advantage of the lifetime exemption--that one-time $675,000 exclusion from estate taxes mentioned above. For non-IRA assets, you may need a credit shelter trust to divide assets. But if the bulk of your estate is IRA savings, simply divide the IRA money into two accounts--one for the full value of the lifetime exemption and the other for what remains. Generally, you should let the smaller IRA pass to heirs at the death of the first spouse, using that spouse's lifetime exemption. When the surviving spouse...