What to Consider Before Making a Large Financial Gift

Tag Archives: estate tax

What to Consider Before Making a Large Financial Gift

The Tax Cuts and Jobs Act, enacted December of 2017 significantly increased the exemptions for lifetime gift and estate taxes. Currently, the federal exemption is $11.7 million per individual or $23.4 million for married couples. That exemption is set to expire at the end of 2025. However, with a new administration and Congress, there is […]

Potential Estate Tax Changes in a Biden Administration

Any time a new president takes office and a new congress takes shape, there are questions about what that could mean for the United States tax code and other types of legislation. As American politics become more polarized, tax policy becomes more dynamic, changing with the political party that holds power. Now, at the beginning […]

Making Cash Gifts to Avoid Estate Taxes

Giving your wealth away while you are still alive isn’t just a way for you to get some satisfaction out of seeing how your gift affects your loved ones—it’s also a savvy estate planning tactic that can help you reduce or eliminate your estate tax responsibility. Here’s an overview of what you should know about […]

Answers to Frequently Asked Questions About Living Trusts

Living trusts can be highly useful estate planning tools for people in all types of financial situations. Below are answers to some of the questions we most frequently receive about these trusts. Q: Why is a living trust beneficial for my estate plan? One advantage associated with a living trust is that any property you […]

Tax Reform Comes with Changes to Estate, Gift Taxes

The major changes to the tax code brought about by the Tax Cuts and Jobs Act of 2017 will have a significant impact on how people with a high net worth will plan their estates. Under the new law, the estate tax exemption is doubled to approximately $11.2 million for individuals and $22.4 million for […]

Potential Estate Planning Effects of the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act, signed into law by President Donald Trump at the tail end of 2017, has wide-ranging implications when it comes to taxes, divorce and estate planning. High-wealth individuals and families benefit the most under the estate planning-related provisions of the law. Therefore, if you have a large, valuable estate, it’s […]

Some Argue the Estate Tax Should Be Raised, Not Cut

The estate tax has been the subject of much debate for years, but that debate has especially heated up since President Donald J. Trump took office in January. The estate tax has been the subject of much debate for years, but that debate has especially heated up since President Donald J. Trump took office in […]

Americans Are Against the Estate Tax, But Do They Understand It?

A recent Gallup poll about tax reform asked Americans a variety of questions about proposed changes to a tax system that many see as outdated. One of the most interesting results came in response to a question about eliminating the estate tax. A full 54 percent of those polled were in favor of eliminating the […]