by Arthur Geffen | Nov 23, 2020 | Estate Planning, Estate Planning Solutions, IDGT
High-net-worth clients recognize that they need to be prepared for sudden changes in tax laws and market valuations. But in the face of political uncertainty and market volatility, it may be difficult to choose which assets to transfer into trust, or determine fair...
by Arthur Geffen | Nov 23, 2020 | Income Tax
There are steps people can take now to make sure their tax filing experience goes smoothly in 2021. First, they can visit the Get Ready page on IRS.gov.Here are a few other things people can do now:Check their withholding and make any adjustments soonSince most...
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 | Nov 17, 2020 | Gifts
With a president-elect Joe Biden heading to the White House, estate and gift tax exemptions could be on the chopping block next year. Even if nothing happens, these exemptions are slated to be halved after 2025. The upshot: Wealthy clients wishing to make big gifts...
by Arthur Geffen | Nov 12, 2020 | Estate Lawyer, Estate Planning, Estate Planning Solutions, tr, Trusts
Spousal lifetime access trust, or SLAT, planning can provide powerful estate and tax planning opportunities – and perhaps one of the most popular techniques for married couples for the foreseeable future given the possible changes in the law post-election and to help...
