Many people are aware of the federal gift tax and the federal estate tax (sometimes referred to as the ‘death tax’). These are the transfer taxes which are imposed on transfers during life, by gift, or at death. In 2019, a...more
When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more
10/5/2018
/ 529 Plans ,
Asset Management ,
Beneficiary Designations ,
Charitable Deductions ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Exclusions ,
Federal Taxes ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
IRS ,
Minor Children ,
Standard Deduction ,
Statements of Net Worth ,
Surviving Spouse ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning ,
Tax Reform ,
Trusts
The Consumer Price Index was released by the Labor Department in August 2017. Not everyone anxiously awaits the release of these numbers but the experts have now made estimates of how they will impact estate, gift, and...more
9/22/2017
/ Asset Management ,
Consumer Price Index ,
Death Tax ,
Deceased Spousal Unused Exclusion ,
Estate Planning ,
Estate-Tax Exemption ,
Exclusions ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
IRS ,
Surviving Spouse ,
Tax Exemptions ,
Tax-Free Transfers ,
Transfer Taxes ,
Trump Administration
The annual federal exemption amount for the estate and gift tax has been adjusted to $5,490,000.00 per individual for 2017. This means a married couple will have a combined $10,980,000.00 in 2017. The $5,490,000.00...more
Over the past few years, we have seen a dramatic increase in the number of clients interested in holding assets in trust for their children. This is a trend we are noticing across the board, regardless of the size of the...more