The IRS has announced the official estate and gift exclusion amounts for 2024.
For an estate of any decedent dying during calendar year 2024, the Federal applicable exemption will increase from $12.92 million to $13.61...more
We often advise clients to consider any changes in their life every two to three years and determine if any adjustments need to be made to their overall estate plan to ensure that their personal and financial goals are met. ...more
In New York and New Jersey, Revocable Trusts, also known as Living Trusts, have started to be used with greater frequency in estate planning. In a typical Revocable Trust, the creator of the trust (ie, the grantor) is also...more
With the worldwide spread of coronavirus, this is an unprecedented and unsettling time. Our health care systems are overwhelmed. Markets have been upended. Social distancing and self-quarantine are terms and practices we...more
On March 31, 2014, broad changes were made to the New York estate and gift tax laws. In addition to increasing the New York basic exclusion amount for taxable estates, a New York estate tax “cliff” was introduced that phases...more