by Arthur Geffen | Sep 8, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax, Gift Tax, Gifts
The clock’s ticking for wealthy clients looking to find tax advantages when transferring assets to the next generation or selling their business—especially considering the looming, potentially watershed election. “With a possible administration change and...
by Arthur Geffen | Sep 2, 2020 | Estate Planning, Estate Tax
The federal government taxes the transfer of assets via three separate but interrelated taxes: the estate tax, which taxes the transfer of assets at death, the gift tax, which taxes gratuitous transfers during your lifetime, and the generation-skipping transfer...
by Arthur Geffen | Aug 18, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax
Estate planning entails such rudimentary concepts as having documents in place, having family discussions about testamentary dispositions and bringing in the skill sets of advisors. There are still clients who may well have issues of actually incurring gift or estate...
by Arthur Geffen | Oct 15, 2019 | Estate Tax, Insurance
A judge said he remains unsure how to rule following a four-day trial in which the IRS accused a taxpayer of using life insurance policies to avoid estate taxes. “I look forward to your briefs because for me this is going to be a hard case,” said U.S. Tax Court...
by Arthur Geffen | Jul 24, 2019 | Estate Tax
Current TCJA Gift and Estate Tax Laws Under the TCJA law, effective January 1, 2018, each person is granted an exemption of $11.18 million from payment of U.S. gift tax and, to the extent not applied toward gift tax, U.S. estate tax. This exemption effectively...
by Arthur Geffen | May 22, 2019 | Estate Planning, Estate Tax, Portability
Listen up, financial advisors: There’s a simple way to help wealthy clients shield more of their estates from taxes, yet it’s often overlooked. Newsletter Sign-up That’s according to InvestmentNews, which looks at what’s known as “portability” for married...
