The Tax Cut and Jobs Act (the “Act”) was signed into law on December 20, 2017, with an effective date of January 1, 2018. Among other things, the Act favorably amended the federal estate, gift, and generation skipping...more
Prior to the recent and significant increases in the federal estate tax exemption amount, many clients engaged in planning the purpose of which was to ensure the use of both spouses’ exemption amount through the use of a...more
The Pennsylvania Inheritance Tax Act was amended recently to exempt interests in a “qualified family-owned business” from the Inheritance Tax. The goal of this exemption is to preserve certain family-owned business...more