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Estate Planning › Gift-Tax Exemption › Spouses

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Morgan Lewis

IRS Announces Increased Gift and Estate Tax Exemption Amounts

Morgan Lewis on

The Internal Revenue Service has announced that the annual gift tax exclusion is increasing next year due to inflation. After four years of being at $15,000, the exclusion will be $16,000 per recipient for 2022—the highest...more

Adler Pollock & Sheehan P.C.

To File or Not to File? A Gift Tax Return Doesn’t Always Have to be Filed.

Adler Pollock & Sheehan P.C. on

Now that fewer people are subject to federal gift taxes, because of a generous $11.58 million lifetime gift tax exemption for 2020, a question many are asking is: “Do I need to file a gift tax return?” The short answer is...more

Katten Muchin Rosenman LLP

2019 Year-End Private Wealth Advisory

Katten Muchin Rosenman LLP on

In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2019: Estate planning with a foreign twist

Adler Pollock & Sheehan P.C. on

If a married couple includes a non-U.S. citizen spouse, there are special estate planning rules to take into account, such as a significantly smaller estate tax exemption. This article explains the differences in estate tax...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2019

Adler Pollock & Sheehan P.C. on

Do you know the differences in estate tax law for couples when both spouses are U.S. citizens vs. when one spouse is a non-U.S. citizen? Or what nonlegal document should accompany a will? We are pleased to present the...more

Burns & Levinson LLP

Child Support and Gifting

Burns & Levinson LLP on

As a divorce lawyer who also does some probate litigation and trusts and estate work, I have always been interested in the interplay between divorce and trusts and estates. Recently, the issue of whether gifts are considered...more

Verrill

2018 Year-End Estate Planning Update

Verrill on

Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

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