by Arthur Geffen | Aug 10, 2021 | Estate Attorney, Estate Lawyer, Estate Planning, Estate Planning Solutions, Estate Tax
Despite the pandemic, many Gen Z’ers are graduating from college and setting their course for success. This is a generation of young people who know what they want out of life and have the financial literacy tools – from podcasts to online platforms – to save for...
by Arthur Geffen | Jul 20, 2021 | Estate Lawyer, Estate Planning, Estate Planning Solutions, Estate Tax
The inauguration festivities have wrapped up and Joseph R. Biden Jr. is the 46th president of the United States. Democrats now control both the House and the Senate but what’s next? Sweeping tax changes have been widely discussed but it is still too soon to know what...
by Arthur Geffen | Mar 10, 2021 | Estate Tax, Income Tax, Retroactive
The Biden administration has promised to lower the Unified Credit for Estate taxes from $11.7 million to $3.5 million, and the credit for gift taxes to $1 million. The question on many planner’s minds is whether Congress has the political will to make those changes...
by Arthur Geffen | Jan 11, 2021 | Estate Tax, Gift Tax, Income Tax, Tax
With the results of the Georgia runoff election in the Democrats Control the House, the Senate and the White House. So, the potential for harsh tax legislation increasing taxation of the wealthy, along the lines of prior Democratic proposals, might be likely to...
by Arthur Geffen | Nov 19, 2020 | Estate Planning Solutions, Estate Tax, Gift Tax
The current federal gift and estate tax rate is 40% and once an individual uses his or her lifetime exemption (currently $11.58 million and scheduled to drop to about half of that in 2026, perhaps sooner in light of election results) tax planning becomes difficult and...
by Arthur Geffen | Sep 17, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax
If you have an estate that may be subject to estate tax next year, particularly if the November election results in a greatly reduced federal estate tax exemption in 2021, now is the time to remove assets from your taxable estate if you can comfortably afford...
