by Arthur Geffen | Apr 5, 2018 | Estate Tax, Inheritance Tax
In addition to the federal estate tax of 40 percent, some states impose an additional estate or inheritance tax. Twelve states and the District of Columbia impose an estate tax while six states have an inheritance tax. Maryland is the only state in the country...
by Arthur Geffen | Feb 9, 2018 | Dallas Estate Lawyer, Dallas Probate Lawyer, Estate Planning, Estate Tax
Ever since the passage of the Tax Cuts and Jobs Act in December, the headlines have been buzzing about the resulting income tax consequences for individuals and businesses, but what about the intersection of the Act and estate planning? After all, nothing is more...
by Arthur Geffen | Jan 2, 2018 | Dallas Estate Lawyer, Dallas Probate Lawyer, Estate Tax
The bill increases the federal estate and gift tax unified credit basic exclusion amount from US$5 million (with inflation adjustments) to US$10 million (with inflation adjustments), which means that the basic exclusion amount for 2018 will be US$11.2 million per...
by Arthur Geffen | Dec 21, 2017 | Estate Tax
The tax bill, passed by the House and Senate yesterday, temporarily doubles the annual exclusion amount (the exemption) for estate, gift and generation-skipping taxes from the $5 million base, set in 2011, to a new $10 million base, good for tax years 2018...
by Arthur Geffen | Oct 23, 2017 | Charitable Gifts, Dallas Estate Lawyer, Dallas Probate Lawyer, Estate Tax
Charites benefit from the estate tax because bequest gifts are not subject to it, creating an even stronger reason to leave a charitable bequest gift. Of course, individuals leave bequest gifts for many reasons, even if they are not subject to the estate tax....
by Arthur Geffen | Aug 30, 2017 | Estate Planning, Estate Planning Solutions, Estate Tax
The estate tax is a 40 percent levy applied to the portion of an estate valued at over $5.49 million for individuals or $10.98 million for couples. It’s a tax that applies only to the very wealthy, with only one out of every 500 taxpayers paying the tax....
