The 2010 Tax Act introduced us to “portability” of the estate tax exemption, allowing a surviving spouse to add a deceased spouse’s unused exemption amount to his/her own estate tax exemption. This added exemption can be used during the survivor’s lifetime, or at death. To activate portability, the deceased’s estate must file an estate tax…
Have you heard about the new tax regulations that will eliminate valuation discounts for intra-family transfers? This is important stuff. In fact, for a lot of you, this could be a game-changer. Plus, there is a time-sensitive element to consider: A public hearing on the proposals will take place on December 1, 2016, and new…
The upcoming presidential election dominates the news, and many of us are looking for details about the financial platform each candidate will enact. Some details about their views on the estate and gift tax laws have been revealed, and there are significant differences between the Republican and Democratic approaches. If you are lucky enough to…
Even though it is only mid-year, the year’s end will be here in a flash. Nevertheless, there is still time to accomplish some important estate planning goals. Here is your list of the top things to do before the end of this year to give yourself the peace of mind you deserve. Execute your Estate…
After signing your trust documents, you might be tempted to think you are done with the estate planning process. Until your trust is properly funded, however, your planning is not complete. Without taking the additional steps of funding your trust, you won’t realize all the benefits of having a trust. “Funding” your trust describes the…
