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...
by Christine | May 24, 2013 | Estate Tax, Inheritance Tax |
Even if death and taxes are the only things certain in life, state legislators say they can never be certain about death taxes. The fiscal cliff-bridging budget set and made “permanent” the estate tax at a generous $5.25 million exemption amount. Good news, right? But...
by Christine | May 16, 2013 | Estate Tax, Gift Tax, IRS |
In 1972, President Richard Nixon cruised to re-election. “The Waltons” premiered on CBS. And Sumner Redstone, who wasn’t yet a global media mogul, (allegedly) made a taxable gift to his children and failed to file a return. Why wouldn’t you file a gift tax return if...
