Posted on: November 26, 2023
Lifetime gifts are a popular way to reduce estate and inheritance taxes. Currently, only estates worth $12.92 million or more are subject to the federal estate tax. Twelve states and the District of Columbia levy an additional estate or inheritance tax. To lower their taxable estate at death, an individual may consider giving gifts to […]
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Posted on: November 16, 2023
Navigating the intricate terrain of estate and gift tax exemption planning strategies is paramount for the astute investor, particularly within the dynamic financial thresholds that define our present economy. As we edge closer to the sunset provisions of the Tax Cuts and Jobs Act, the impetus to harness the full potential of the available $12,920,000 […]
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Posted on: August 21, 2023
A benefit of working hard is sharing the fruits of your labor with your loved ones. However, gift or estate tax consequences may impact high-net-worth clients when they share their wealth. By crafting a comprehensive estate plan, we can address these concerns and protect high-net-worth clients and their loved ones. The following three types of […]
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Posted on: July 11, 2023
In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.
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