Entries by Michael Kling

Choosing an Executor and Successor Trustee for Your Estate

The Role of Executor of Your Estate The person you name in your will as the executor of your estate is responsible for managing your estate in the event there are probate proceedings. This involves a court process and working under court supervision to gather and identify assets, debts, and liabilities. Your executor will notify […]

A Win for Taxpayers: Transfer Tax Clawback Eliminated

In 2017 when the Tax Cuts and Jobs Act (TCJA) was signed into law, it made significant changes to gift and estate transfer taxes. These changes were effective starting in 2018 and continue through 2025. One of the biggest changes was doubling the basic exemption amount—meaning how much can be transferred free of the gift, […]