Inheritance Tax

News & Analysis as of

It’s That Time of Year!

One can always tell when an election year is upon us. Maryland Republican lawmakers resume their quest to eliminate or severely curtail Maryland’s Estate Tax and Inheritance Tax and their Democratic counterparts oppose it. ...more

Insight on Estate Planning - February/March 2014

In This Issue: - The BDIT: A trust with a twist - Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education - Power of attorney abuse: What can you do...more

Here Is What Is Happening In Pennsylvania’s Legislature Regarding Trusts And Estates

Bill Ries has prepared a status report for the Pennsylvania Legislature’s current Trust & Estate matters. These tables summarize a number of bills that affect decedents’ estates laws and were introduced in the 2013-14...more

Pennsylvania Tax Updates

Inheritance Tax Exemption for Small Businesses - Pennsylvania recently passed 72 P.S. § 9111(t), specifically aimed at eliminating the Pennsylvania inheritance tax on small family-owned businesses. The Pennsylvania...more

Sweeping Changes to the Pennsylvania Tax Code - The Passage of Pa. House Bill 465

House Bill 465, also known as Act 52, was signed into law by Pennsylvania Governor Tom Corbett on July 9, 2013. The Bill makes substantial changes to the Pennsylvania tax code as an integral part of the 2013–2014 budget....more

New York Man Pleads Guilty to Hiding Inheritance in Swiss Account

Tax Analysts Tax Notes is reporting that HENRY SEGGERMAN pled guilty today in Manhattan federal court to charges related to his participation in a scheme with family members to hide in secret Swiss bank accounts, and not...more

Pa Tax Legislation Will Make Substantial Changes

The Act of July 9, 2013, No. 52 (H.B. 465) and Senate Bill 591 will make substantial changes to Pennsylvania taxes if finally enacted. The bills were part of the budget process. S.B. 591 has passed the House and Senate and...more

The Estate Tax Consequences of the Defense of Marriage Act for Same-Sex Couples

As of January 1, 2013, the Civil Marriage Protection Act legalized same-sex marriage in the State of Maryland. From the estate-planning perspective, the passage of this law clarified many points that had been problematic for...more

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