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:...

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

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

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...

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...

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...

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...

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...

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...

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...

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...

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: 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....

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...

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...

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,...