As young family members head off to school or leave home for a job, parents and other relatives may wonder how they can continue to support a child or assist with health care or other decisions. Many parents are surprised...more
As we head into the last quarter of the year, many clients are thinking about making gifts to their family members. It can also be a good time to plan to make gifts in January of next year....more
10/6/2022
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Dependents ,
Estate Planning ,
Estate Tax ,
Family Members ,
Gift Tax ,
Gift-Tax Exemption ,
Inflation Adjustments ,
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Tax Planning ,
Wealth Management
Democrats recently unveiled the Build Back Better Act, which, if passed, would bring significant changes to the Tax Code and would have a drastic impact on common estate planning techniques, including gifts to trusts. The...more
The federal gift, estate and generation-skipping transfer (GST) tax exemptions are at an all-time high—currently $11.58 million for individuals and $23.16 million for married couples—but may not remain so for long. Some...more
Many clients are asking about how to plan in light of possible changes to the federal estate tax law. In response to current events and the impact on state and federal budgets, it is very possible that the federal estate tax...more
The Tax Cuts and Jobs Act of 2018 went into effect on January 1, 2018. The new law makes some changes to key estate planning-related provisions. Except as otherwise noted, these changes are effective now and will sunset at...more