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    Home > Blog > Estate Planning Retirement Tax

    leveraging giving excess gifts and filing a gift tax return vs. bequests rules
    Posts

    Leveraging gift rules to your advantage

    As you or your family members approach retirement, it's essential to understand the IRS gift-giving rules. With this understanding, there...

    elder care planning
    Posts

    Family teamwork: A smooth transition through the ages

    As you get older, so do your parents and grandparents. And at some point, the need for support and transition...

    Crummey Powers in Family Trust and Estate Planning
    Posts

    Estate planning tips for every family

    If juggling priorities were an Olympic sport, young parents would win the gold medal. Raising kids, advancing careers, paying off...

    2024-2025 Calendar for Tax Return Information and Tips with first quarter estimates taxes
    Posts

    2024 tax calendar

    To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this calendar of when various tax-related...

    how to reduce your 2023 income tax bill
    Posts

    Take action now to reduce your 2023 income tax bill – part two

    For many people, 2023 will be a confusing year to plan for taxes due to various issues. These include erratic...

    2024 Cost-Of-Living Adjustment Tax and Estate Planning
    Posts

    How the 2024 cost-of-living adjustment numbers affect your year-end tax planning – part two

    The IRS released the 2024 cost-of-living adjustments for over 60 tax provisions recently. Though not as much as in the...

    leveraging giving excess gifts and filing a gift tax return vs. bequests rules
    Posts

    Deciding whether to make lifetime gifts or bequests at death can be a deceptively complex question

    Passing on as much of your fortune to your family as possible may be one of your primary estate planning...

    Jump-Start Retirement and Essential Estate Planning Strategies for Tax-Beneficial Savings
    Posts

    Don’t overlook these two essential estate planning strategies

    Many tools and methods can help minimize your taxable estate and guarantee your final wishes come true. Many should implement...

    Avoid Federal Gift and Estate Tax Uncertainty With a SLAT Spousal Trust
    Posts

    Prepare for an uncertain federal gift and estate tax exemption amount with a SLAT

    The federal exemption from gift and estate tax for 2023 is $12.92 million ($25.84 million for married couples). However, if...

    Tax Break for Elderly Caregiver(s) Receiving an Inheritance
    Posts

    You’ve received a sizable inheritance: Now what?

    It may be tempting to think of a sizeable inheritance you've recently received or will soon receive as "found money"...

    Plan for GST Tax or cash in on zero percent capital gains rate
    Posts

    Plan carefully to avoid GST tax surprises

    It's crucial to consider and plan for the generation-skipping transfer (GST) tax if you wish to pass along some of...

    Moving a trust to another state qualifying for the home gain exclusion and your tax benefits
    Posts

    Should you move your trust to another state?

    You may desire to transfer a trust to a more advantageous location for several reasons. For example, to prevent or...

    leveraging giving excess gifts and filing a gift tax return vs. bequests rules
    Posts

    Understanding the gift giving tax

    There are particular limits to the number of gifts one may give to any individual each year to prevent taxpayers...

    leveraging giving excess gifts and filing a gift tax return vs. bequests rules
    Posts

    To file or not to file a gift tax return, that is the question

    You might wonder if filing a gift tax return is necessary if you made gifts last year. The short answer:...

    buy-sell agreements
    Posts

    Business owners: Now’s the time to revisit buy-sell agreements

    Buy-sell agreements should be a crucial part of your estate and succession plans if you have a stake in a...

    Annual Gift Tax Exclusion Amount Increases for 2023
    Posts

    Annual gift tax exclusion amount increases for 2023

    Did you know that one of the easiest and most convenient ways to avoid paying estate taxes is also one...

    Posts

    What do the 2023 cost-of-living adjustment numbers mean for you? Part two: estate planning

    For more than 60 tax provisions, the IRS recently released its cost-of-living adjustment numbers for 2023. Many values increased significantly...

    GST tax
    Posts

    The GST tax and your estate plan: What you need to know

    A not-so-fun truth is this: the generation-skipping transfer (GST) tax is one of the toughest and most complicated in the...

    DAF Benefits and Disadvantages for Charitable Trust and Giving to Charity or to Donate Appreciated Stock
    Posts

    CLTs: A charitable trust that takes the lead

    Do you tend to temporarily donate property to a charity without permanently giving it up? Then, consider the advantages of...

    Posts

    Take a balanced approach to retirement and estate planning using a split annuity

    The biggest problem for those who are approaching or have already reached retirement is striking a balance between the necessity...

    Posts

    Careful planning required for beneficiaries to borrow from a trust

    Intrafamily loans allow you to help loved ones out financially while potentially lowering gift and estate taxes. However, what about...

    leveraging giving excess gifts and filing a gift tax return vs. bequests rules
    Posts

    Are you and your spouse considering “splitting” gifts?

    Gift splitting can help you and your spouse maximize the amount of wealth that can be transferred tax-free and is...

    Crummey Powers in Family Trust and Estate Planning
    Posts

    Power up your trust with Crummey powers

    After accounting for inflation, the unified gift and estate tax exemption is up from $11.7 million in 2021 to $12.06...

    Avoid Federal Gift and Estate Tax Uncertainty With a SLAT Spousal Trust
    Posts

    Opening up to SLAT opportunities

    Planning for estate taxes can get challenging when there are several parties. For instance, you might worry about supporting your...

    buy-sell agreements
    Posts

    Add estate planning flexibility with a power of appointment

    Even the most well-laid plans can go wrong. Events may occur after your death that you did not anticipate or...

    Defined-value gifts
    Posts

    Defined-value gifts: Plan carefully to avoid unpleasant tax surprises

    An increase in the federal gift and estate tax exemption for 2022 makes it at its most significant level ever....

    Selling property to family and what else requires a tax review for inherited IRA
    Posts

    Proposed regulations for inherited IRAs bring unwelcome surprises

    The first significant legislation signed into law addressing retirement savings since 2006 was in late 2019. Many improvements to retirement...

    The Homeowner Tax Break to reduce your bills, property taxes, and real estate probate costs or apply risk of depreciation recapture rules on home sale
    Posts

    Owning real estate in more than one state may multiply probate costs

    Probate avoidance or minimization is one of the goals of estate planning. It is especially significant if you own property...

    DAF Benefits and Disadvantages for Charitable Trust and Giving to Charity or to Donate Appreciated Stock
    Posts

    The donor-advised fund: A powerful vehicle for charitable giving

    Consider a donor-advised fund (DAF) if charitable giving is essential to you. Usually sponsored and managed by a community foundation...

    Reduce Gift Tax Rate
    Posts

    Use the net gift technique to reduce your gift tax rate

    If you’re concerned about the impact of transfer taxes on your gifts, consider making “net gifts” to your loved ones....

    Planning and Preparation for Protecting family estate while kids filing their own taxes
    Posts

    Does your trust need protection?

    Designing an estate plan can be a delicate balancing act. On the one hand, you want to preserve as much...

    New Custodial Accounts for Kids and The Kiddie Tax - Child Credits for 2021 Gift Return for Parents
    Posts

    The 2021 gift tax return deadline is almost here, too

    April 18, 2022, is the deadline for filing your federal income tax return. However, keep in mind that the 2021gifttax...

    IRA Trust Savings
    Posts

    With proper planning, a charitable remainder trust can replicate a “stretch” IRA

    The “stretch” IRA generally no longer exists. But with a substantial balance in a traditional IRA, a properly-designed charitable remainder...

    Prepare for a new year by reviewing your estate plan
    Posts

    Prepare for a new year by reviewing your estate plan

    Hopefully, you already have a sound estate plan in place to protect the interests of your heirs and minimize potential...

    Posts

    Do you have a will

    The need for a will as a key component of your estate planning may seem obvious. You’d be surprised, though,...

    Posts

    3 essential estate planning strategies not to be ignored

    With most tax planning, there are certain strategies that are generally effective and shouldn’t be ignored. The same holds true...

    Posts

    Keep family matters out of the public eye by avoiding probate

    Although probate can be time consuming and expensive, one of its biggest downsides is that it’s public — anyone who’s...

    Posts

    Can a broken trust be fixed?

    An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves...

    Posts

    Does your estate plan address your grandchildren in a fair manner?

    Many people, when planning their estates, simply divide their assets equally among their children. But “equal” may not necessarily mean...

    Posts

    Estate planning in the FAST lane

    Traditionally, estate planning has focused on more technical objectives, such as minimizing gift and estate taxes and protecting assets against...

    Posts

    Protect your assets with a “hybrid” DAPT

    One benefit of the current federal gift and estate tax exemption amount ($11.7 million in 2021) is that it allows...

    Posts

    Beware of the “reciprocal trust” doctrine

    If you and your spouse have similar irrevocable trusts that benefit each other, it’s important to know that the trusts...

    Posts

    Should a tax apportionment clause be in your estate plan?

    Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families...

    Posts

    Spendthrift trusts aren’t just for spendthrifts

    Now that the federal gift and estate tax exemption has reached an inflation-adjusted $11.7 million for 2021, fewer estates are...

    Posts

    Family Limited Partnership Discounted Gifting May Soon Be Coming to an End

    August 25, 2016 Leonard M. Friedman, CPA/ABV, CBA Family Limited Partnerships (FLP’s) can be useful family wealth management tools for...

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    Fred Allen

    "An income tax form is like a laundry list - either way you lose your shirt."

    - Fred Allen

    Albert Einstein

    "The hardest thing in the world to understand is the income tax."

    - Albert Einstein

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    - Will Rogers

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