by Christine | Apr 17, 2014 | Basis, Bequest, Estate Law, Estate Planning, Estate Tax, Gift Tax |
When it comes to estate planning, one of the primary goals is to transfer as much of a person's assets to their intended beneficiaries at the lowest cost or, in other words, by paying the least amount of tax. Giving your assets to your heirs is all about timing....
by Christine | Mar 21, 2014 | Estate Law, Estate Tax, State Law |
New York’s governor, Andrew M. Cuomo, took a step toward bringing the state’s estate tax in line with the federal one. And he is not alone among governors of cold-weather states (along with the District of Columbia) that have realized affluent residents are moving to...
by Christine | Feb 24, 2014 | Capital Gains, Cost Basis, Estate Planning, Estate Tax |
At the recent annual Heckerling Institute (the leading conference for estate pros) Paul S. Lee, a Bernstein wealth manager, called for a new approach to planning he puckishly described as “freebasing”–because it frees survivors to get the most potent income tax...
by Christine | Nov 15, 2013 | Estate Law, Estate Tax, Inheritance Tax, Interstate Estate, State Law |
There are steps that residents of states with steep estate taxes can take–short of moving–to help minimize such bills or avoid them altogether. Although the Federal government may cast a big shadow in terms of estate taxes, don't forget those state laws lurking in...
by Christine | Nov 14, 2013 | 2013, 2014, Estate Law, Estate Tax, Gift Tax |
Starting in 2014 … the basic exclusion will go up to $5.34 million per person, from $5.25 million this year.[However,] there will be no change in the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many...
by Christine | Oct 11, 2013 | Estate Planning, Estate Tax, Estates, Trusts |
Many trusts were set up over the years to help protect wealth from estate taxes. But the federal estate-tax exemption has risen steadily in recent years, to $5.25 million, or $10.5 million for couples, from $1 million in 2003. This year, Congress made the exemption...
