by Arthur Geffen | May 20, 2019 | Estate Planning, Estate Tax
The federal estate tax (sometimes called the death tax) is a one-time tax that is imposed at death. If you die with a certain dollar amount of assets – currently, estates under $11.4 million are exempt, but this reverts back to $5 million in 2026 – a federal...
by Arthur Geffen | Apr 30, 2019 | Estate Planning, Estate Planning Solutions, Estate Tax, Income Tax
Less estate tax planning may be better for longer-living richThanks to longer retirement horizons, rich households may benefit from doing less tax-related estate planning, experts told Bloomberg. “People used to do a lot of wealth transfer planning when they...
by Arthur Geffen | Feb 15, 2019 | Estate Tax
The overhaul doubled the estate- and gift-tax exemption, which is a combined amount that applies to an individual’s gifts made during life or assets left at death. For 2018, the limit rose to $11.18 million per individual and $22.36 million per married couple....
by Arthur Geffen | Jan 9, 2019 | Estate Tax, Gift Tax
The IRS has published new guidelines relating to estate and gift tax changes for 2019. Starting this year, estates of decedents who die during 2019 have a basic estate tax exemption amount of $11,400,000 (increased from $11,180,000 in 2018). This means that the estate...
by Arthur Geffen | Oct 29, 2018 | Estate Attorney, Estate Lawyer, Estate Planning, Estate Planning Solutions, Estate Tax
Death and taxes may be unavoidable. Taken together, they become a firestorm. The federal estate tax has been a hot-button issue since it was first imposed under the Revenue Act of 1916, when 10 percent was levied on portions of an estate exceeding $5 million....
by Arthur Geffen | Oct 3, 2018 | Estate Planning, Estate Tax, Tax Planning
Even as controversy heats up around the transfer of wealth from the real estate empire of the president’s father, Fred Trump, to his children, it’s getting much easier to gift millions of dollars — legally — to family. The Tax Cuts and Jobs Act...
