On April 10, 2025, the House of Representatives narrowly approved the Senate’s version of the FY 2025 budget resolution, which it passed on April 5, formally aligning both chambers on President Trump’s legislative tax agenda....more
As lawmakers advance toward the critical 2025 tax cliff, a key—and increasingly contentious—policy question is coming into sharper focus: What should Congress assume about the future when it scores the cost of extending the...more
4/8/2025
/ Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Federal Budget ,
Gift Tax ,
Gift-Tax Exemption ,
New Legislation ,
Proposed Legislation ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Liability ,
Tax Reform
As we approach the end of the first quarter of 2025, estate planners and their clients are closely monitoring developments in Washington, D.C. The scheduled sunset of the increased estate and gift tax exemption is now less...more
New legislation to repeal the federal estate tax, often referred to as the “death tax,” has been introduced in Congress. Senator John Thune (R-SD) and Representative Randy Feenstra (R-IA) have introduced companion bills in...more
2/20/2025
/ Death Tax ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Legislative Agendas ,
New Legislation ,
Popular ,
Proposed Legislation ,
Tax Planning ,
Tax Reform ,
Tax Relief ,
Trusts
Over the past decade, Central Ohio has undergone a remarkable economic transformation. Columbus and its surrounding areas have attracted major investments from tech giants like Intel, Amazon, and Google, transforming the...more
Wendy Williams’ ongoing legal battle over her financial conservatorship has reignited public debate on the complexities of incapacity planning. Although she allegedly executed a power of attorney (POA) in favor of her son,...more
2/7/2025
/ Beneficiaries ,
Conservators ,
Estate Planning ,
Fiduciary Duty ,
Financial Institutions ,
Guardians ,
Incapacitated Persons ,
Power of Attorney ,
Probate ,
Trustees ,
Trusts ,
Wills
The current federal estate tax exemption levels, introduced by the Tax Cuts and Jobs Act (TCJA) in 2018, have provided historically high federal estate tax exemptions. But this period of increased exemption is expected to...more
1/17/2025
/ Charitable Donations ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Internal Revenue Code (IRC) ,
Irrevocable Trusts ,
IRS ,
Spousal Lifetime Access Trust (SLAT) ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning
In a recent class-action lawsuit, ten disabled Alaskans have sued the State of Alaska and their court-appointed guardian. This case emphasizes the profound importance of comprehensive estate planning, extending far beyond the...more
Understanding the nuances of the Internal Revenue Code (I.R.C.) is crucial for effective estate planning and tax strategy. For example, estate planners must be familiar with the tax basis adjustment provisions in 26 U.S.C. §...more
August is “National Make-a-Will” Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what...more
8/5/2024
/ Bank Accounts ,
Child Custody ,
Estate Planning ,
Executors ,
Grantors ,
Inheritance ,
Minor Children ,
Property Owners ,
Real Estate Investments ,
Special Needs Children ,
Special Needs Trust ,
Trusts ,
Wills
The American housing market is grappling with escalating interest rates and limited inventory, pricing many Americans out of home ownership. Massachusetts’s senior Senator Elizabeth Warren seeks to address this issue in the...more
Can you believe it? Summer isn’t over yet, but it’s already time to start thinking about the upcoming school year. For parents of younger children, this means shopping for school supplies and new clothes, reestablishing...more
Chief Justice John Roberts focused his 2023 Year-End Report on the Federal Judiciary on technology and the inevitable disruptive force it will have on lawyers and judges alike. While he stops short of concluding that judges...more
UNDERSTANDING ESTATE PLANNING MISCONCEPTIONS -
There’s a misconception that estate planning is mainly for the wealthy or those concerned with asset protection. In reality, estate planning serves the practical purpose of...more