Where you die matters. While you’ll pay the same federal estate tax no matter where you die, 1/3 of the states have a separate estate or inheritance tax. The most populous state, California, is the latest state to consider adding a state estate tax. Read on to learn more. When and Where You Die Matters … [Read more...] about When and Where You Die Matters
New Estate Tax Proposal
A new estate tax proposal would lower the amount passing free from tax to $3.5 million and increase the rates of taxation. It would also eliminate some tried and true strategies for reducing estate taxation. Read on to learn more about this proposal and its prospects. New Estate Tax Proposal … [Read more...] about New Estate Tax Proposal
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...] about Grantor Trusts Provide Flexibility and Ease
Estate Planning: It’s Not Just About the Estate Taxes
The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just About the Estate Taxes … [Read more...] about Estate Planning: It’s Not Just About the Estate Taxes
Planning for the International Client
Estate planning for the international client can be tricky. This article looks at the estate tax treatment of U.S. citizens and non-resident aliens. The article then looks at an example of someone who lived in the U.S. and then departed. Planning for the International Client … [Read more...] about Planning for the International Client
Treasury Releases New Inflation Adjustment
The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion. Treasury Releases New Inflation Adjustment … [Read more...] about Treasury Releases New Inflation Adjustment
Tax Reform and the Estate Tax
There’s a Republican blueprint for tax reform. Learn the general provisions of the plan and the uncertainties in it. Read on to learn more. … [Read more...] about Tax Reform and the Estate Tax
How Tax Reform Could Impact Various Families
Learn how the Republican blueprint for tax reform would impact different families from an estate planning perspective. Read on to learn more. … [Read more...] about How Tax Reform Could Impact Various Families
Estate Planning in New York NY: End of Year Resolutions
Before we head into the always-busy holiday season, why not make a few end of year resolutions? Specifically, why not make a few legal and financial end of year resolutions? Here’s a check list of realistic goals you can set and easily meet before we ring in the new year. Taking it Tax Free Did you know you can give up to $13,000 to as many people as you wish every year? It’s true – and if your estate is big, you know how crucial it is to take advantage of estate tax reductions. Not only that, … [Read more...] about Estate Planning in New York NY: End of Year Resolutions
Estate Tax Parameters Set for 2013
We had a lot of uncertainty regarding the estate tax parameters for 2013 as the political powers that be negotiated a deal that would prevent the country from going over what was being called the "fiscal cliff." The wrangling and finger-pointing went down to the last minute, but a deal was finally reached when the Senate passed a resolution on New Year's Eve and the House of Representatives followed suit the next day. If no new legislation had passed the estate tax exclusion would have … [Read more...] about Estate Tax Parameters Set for 2013
