Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino
Once Removed Episode 18: The Reciprocal Trust Doctrine
Charitable Planning With Guest Stephanie Hood: Navigating Complex Rules and Traps for the Unwary
Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Once Removed Episode 17: Annual Gifting to Individuals: Options, Opportunities and Pitfalls
Once Removed Episode 12: SLATs and the Case of McKim vs. McKim
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
Once Removed Episode 10: Trustee Removal and Case Update on Leo Kahn Revocable Trust
(A)ESOP's Fables - The Income and Estate Tax-Free ESOP
The Renoir Spelling Bee
Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller
RETURN TO FOREVER - What Game Shall We Play Today?
To Give or Not to Give: Considerations for Year-End Gifting
INTRODUCING MALTA SPLIT DOLLAR
THE PAPER CHASE
With a Little Help from My Friends
The Greatest Gift: Your Individual + Family Estate Plan
As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year. Annual Exclusion Amount- ...more
As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information as you consider 2025 planning options. ...more
Estate planning is a lot like putting together a puzzle. The client provides you with their box lid showing what they want the ultimate result of their plan to look like. Then, estate planners are tasked to identify and...more
As we will see shortly, it is often “better to give than to receive,” though this statement begs the obvious question of whether it is better to do so during one’s lifetime or upon one’s death. Many well-to-do individuals...more
In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but one of the most...more
Earlier this week the White House released its Fiscal Year 2025 Budget. Of course, the federal government has not yet adopted a budget for the Fiscal Year 2024 even as we approach that year’s halfway mark. But I digress. The...more
The federal gift and estate tax exclusions and the generation-skipping transfer (GST) tax exemption increased significantly under the Tax Cuts and Jobs Act of 2017 (TCJA). Recent inflation adjustments have expanded them even...more
The Internal Revenue Service has announced the new limits for the Gift and Estate Tax Exemption for 2024, the amount of taxable gifts that can be made during lifetime and/or the amount that can be passed at death without...more
The IRS recently released its inflation adjustments for 2024. International private client practitioners should note the following: US Estate and Gift Tax Exclusion Amount: $13,610,000 (up from $12,920,000)...more
For a business owner considering the sale of their business, there are two competing goals: maximizing the proceeds from the sale and minimizing the estate and gift taxes that will be due on the owner’s enhanced estate....more
$860,000 – that is the amount of the increase in the gift, estate, and generation-skipping transfer (“GST”) tax exclusion that came into effect on January 1st when the exclusion increased from $12.06 million for 2022 to...more
As the year is drawing to a close, we offer you some general advice regarding year-end planning and updated inflation-adjusted figures for 2023. Annual Exclusion Gifts - In 2022, the annual exclusion amount is $16,000...more
The IRS has announced the official estate and gift exclusion amounts for 2023. For an estate of any decedent dying during calendar year 2023, the applicable exclusion is increased from $12.06 million to $12.92...more
The basic exclusion amount is the total amount that an individual may pass by gifts made during his or her lifetime or by devises and bequests at his or her death without liability for federal estate, gift or generation...more
The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more
I have yet to meet a client who wants to pay estate taxes. Tax avoidance is among the primary reasons people meet with estate planning attorneys and develop estate plans. In 2022, the federal gift, estate, and generation...more
The IRS released Revenue Procedure 2021-45 which announces the increase in 2022 of the estate, gift and generation-skipping transfer tax applicable exclusion amounts from $11.7 million to $12.06 million. The applicable...more
The Internal Revenue Service recently issued Revenue Procedure 2021-45 providing calendar year 2022 inflation adjustments for more than sixty tax provisions. Two of these adjustments are of particular interest to estate...more
It is said that two things are certain in life: death and taxes. True, but incomplete. What is missing from this short list is a third inevitable occurrence – tax law changes. We now have a new and pressing series of proposed...more
If you are in the holiday spirit this season, you may wish to make gifts using the 2021 annual federal gift tax exclusion amount. To qualify for this exclusion for the year 2021, the gifts must be made no later than December...more
“Insurance.” The word itself evokes different reactions. The range of emotions expands when we mention “life insurance.” And if we add, trust – “life insurance trust” – you may just stop reading. But don’t. Now is exactly the...more
When a family business owner's goal is to ultimately pass ownership of the business on to the next generation, business succession planning and the owner's estate planning are inextricably linked. The most difficult issues...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
It's time to start the conversation with your tax advisor. The 2019 filing deadline is Monday, April 15. Note the new tax brackets. The new law imposes a new tax rate structure with seven tax brackets for 2018: 10%, 12%, 22%,...more