by Arthur Geffen | Sep 17, 2018 | Estate Tax, Income Tax
As always, two things remain constant: (1) you will get older every day and (2) you will get taxed all along the way. In this article, I’ll explain some key age-related tax and financial planning milestones to remember for you and your loved ones, taking into account...
by Arthur Geffen | Aug 29, 2018 | Estate Tax, Income Tax, Life Insurance
You may think that life insurance is tax-free. Unfortunately, the “no tax on life insurance” idea is only partly true: Life insurance is income tax-free. In other words, recipients of a decedent’s life insurance policy do not have to pay income tax on that sum....
by Arthur Geffen | Jul 5, 2018 | Estate Tax, Gift Tax
So how can your clients have their cake and eat it too? To plan better, advisors first need to identify how a client’s goals might be different today because of the 2017 tax changes. They may want to consider the following strategies: The current estate, gift...
by Arthur Geffen | Jun 12, 2018 | Estate Tax
DO IT KNOW TO AVOID CLAWBACK If you’re planning on gifting millions of dollars to organizations and family members while you’re alive, do it now. The Tax Cuts and Jobs Act raised the gift and estate tax exemption — also known as the unified credit — to...
by Arthur Geffen | May 9, 2018 | Estate Planning, Estate Planning Solutions, Estate Tax
The major change to estate and gift taxes in the Tax Cuts and Jobs Act of 2017 is a doubling of the integrated estate and gift tax exemption to approximately $11.2 million1 for decedents dying and gifts made in 2018. A married couple has the benefit of two...
by Arthur Geffen | Apr 11, 2018 | Estate Planning, Estate Planning Solutions, Estate Tax
Attorneys, accountants point to family conflict as the biggest threat to estate planning. Tax reform and market volatility follow, respectively. Even with the estate tax exemption at $11.2 million per person, business owners and wealthy families need to head...
