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Estate Planning › Spouses › Gift Tax

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 -
Brooks Pierce

Changing Laws Present Unique Estate Planning Opportunities for Married Couples

Brooks Pierce on

Today’s federal estate and gift tax laws may be remembered as the most generous to wealthy families since the Great Depression. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the federal estate, gift, and generation skipping...more

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

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

BCLP

US/UK tax series: Estate planning issues for US/UK couples

BCLP on

If you are a US citizen and your spouse or civil partner is not you need to ensure you have appropriate estate planning in place to avoid your heirs getting an unexpected tax bill following your death. In this guide we...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

Bowditch & Dewey

Estate Planning for a Non-U.S. Citizen Spouse

Bowditch & Dewey on

There are special estate tax planning considerations when a non-U.S. citizen spouse is part of the picture. To be clear, a non-U.S. citizen spouse may be living in the U.S. and even hold a green card, but he or she does not...more

Adler Pollock & Sheehan P.C.

When should you turn down an inheritance?

Adler Pollock & Sheehan P.C. on

If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more

Ward and Smith, P.A.

QDOT-ting I's and Crossing T's: Estate Tax Planning for Non-United States Citizen Spouses

Ward and Smith, P.A. on

Individual and corporate citizens from countries around the world have moved to North Carolina and contributed materially to our state's economic, educational, and cultural growth. Foreign direct investment ("FDI") in North...more

Coblentz Patch Duffy & Bass

Proposed Treasury Regulations To Affect Family Wealth Transfers

Coblentz Patch Duffy & Bass on

On August 2, 2016 the U.S. Treasury Department issued proposed regulations addressing transfers between family members of interests in family-controlled entities (e.g., corporations, partnerships and LLCs). If enacted, these...more

Adler Pollock & Sheehan P.C.

Premarital planning - Protecting your assets without a prenup

Adler Pollock & Sheehan P.C. on

Protecting family assets in the event of a divorce is particularly significant for family business owners, who typically want to avoid sharing ownership with their ex-spouses or their children’s ex-spouses. A prenuptial...more

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