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Estate Taxes

Estate Tax Planning

Posted on: October 1st, 2016
Unless you have a comprehensive estate plan, taxes may slip in when you’re least expecting it....

What the Recently Released 2016 IRS Inflation Adjustments Mean for You

Posted on: January 1st, 2016
The Internal Revenue Service has released the official inflation adjustments that will affect 2016 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes....

Early Predictions About 2016 Estate Tax, Gift Tax, GST Tax and Annual Gift Tax Limits

Posted on: October 15th, 2015
Under current law the federal estate tax, gift tax, and generation-skipping transfer tax exemptions have become unified and are indexed for inflation on an annual basis....

What You Need to Know About the Final Estate Tax Portability Rules

Posted on: August 15th, 2015
Recently the IRS issued the final rules governing the 'portability election' as it relates to the federal estate tax exemption. Married couples need to understand how these final rules may affect their existing estate plans, while recent widows and widowers need to understand how these finals rules may affect their deceased spouse's estate....

IRS Announcement: Estate Tax Closing Letters Will Now Only Be Issued Upon Request

Posted on: July 15th, 2015
Due to the increased volume of federal estate tax return filings in order to make the 'portability election,' the IRS has announced that estate tax closing letters will only be issued upon request by the taxpayer. This change in IRS policy started on June 1, 2015....

When is an Estate Subject to State Death Taxes?

Posted on: May 1st, 2015
In the United States, certain states collect a death tax based on the value of the deceased person's estate and who inherits it....

Five Changes Proposed in President Obama’s 2016 Budget That Could Affect Your Estate Plan

Posted on: April 1st, 2015
The Obama administration recently released its budget proposal for the 2016 fiscal year. As in past years, this budget proposes changes to the laws governing federal estate, gift and generation-skipping transfer (GST) taxes. Several of these changes would raise revenue by limiting the tax benefits achieved by using certain estate planning techniques, while others would decrease exemptions and increase rates. In addition, the fifth proposal discussed below is a brand new one that has raised some eyebrows:...

What the 2015 Inflation Adjustments for the Estate Tax Exemption and Trust Income Tax Brackets Mean for You

Posted on: October 15th, 2014
The Internal Revenue Service has released the official inflation adjustments that will affect 2015 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes....

Why Does Probate Take So Long?

Posted on: July 15th, 2014
Probate can be easily avoided, but most estates are dragged through the process. Why? Many people fail to create an estate plan, so probate is required. And - others plan with just a Will, so probate is required. As a result, assets end up at the mercy of a probate judge, open to public scrutiny, and delayed passing to beneficiaries....
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