Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller
To Give or Not to Give: Considerations for Year-End Gifting
In a significant legislative shift, the Tax Cuts and Jobs Act of 2017 doubled the exemption amounts for estate, gift, and generation-skipping transfer taxes (collectively known as “Death Taxes”). As of 2024, the federal...more
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
It’s almost too simple. Every year at Christmas or Hannukah or Kwanzaa the family gathers around the tree or the seven or nine candles and celebrates the season of giving by making the annual tax-exempt gifts. These are the...more
Death taxes are essentially a punishment for being successful. Working for your whole life to build a legacy, only for the government to take a portion when you pass away....more
Join Robert F. Morris, Esq. to discuss some important topics such as: - What issues can impact your family and estate plan? - What planning opportunities are available to protect your intent? - What estate,...more
This chart is maintained for the McGuireWoods LLP Website and is updated regularly. Any comments on the chart or new developments that should be reflected on the chart may be sent to cfox@mcguirewoods.com. ...more
High-net worth individuals have an opportunity to take advantage of high transfer tax exemptions if they act fast. Set to expire in 2026, unless Congress acts sooner, the time is now to implement strategies that make the most...more
This seminar will address topics such as: - What issues can impact your family and estate plan? - What planning opportunities are available to protect your intent? - What estate, inheritance, and other death taxes...more
...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more
Earlier this month, I provided a very brief overview of the estate tax in a vlog. In this blog post, I’ll expand on estate tax basics. What is the estate tax? At its foundation, the estate tax is a tax imposed on the...more
Presented by Cohen Seglias attorney Whitney Patience O'Reilly on December 15, 2020. As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any...more
As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any gifts they make now or in the future. Join Whitney O’Reilly in this interactive webinar...more
The federal gift, estate and generation-skipping transfer (GST) tax exemptions are at an all-time high—currently $11.58 million for individuals and $23.16 million for married couples—but may not remain so for long. Some...more
While the safety of your family is of first priority, the current health and economic crisis caused by COVID-19 raises issues and presents estate planning opportunities for your consideration....more
As in past years, there have been numerous changes in the exemptions allowed from the separate estate taxes that 12 states and District of Columbia apply in addition to the federal estate tax. An additional five states have...more
The federal estate tax (sometimes called the death tax) is a one-time tax that is imposed at death. If you die with a certain dollar amount of assets, an estate tax return may be required and a tax may be due. If a return is...more
Many people are aware of the federal gift tax and the federal estate tax (sometimes referred to as the ‘death tax’). These are the transfer taxes which are imposed on transfers during life, by gift, or at death. In 2019, a...more
Estate Planning for Real Estate Owners - Estate planning for valuable, illiquid assets presents a variety of challenges. With respect to real estate, planning challenges can be compounded due to fractional ownership, outside...more