The combination of the generous $5 million gift, estate and generation-skipping transfer (GST) tax exemptions (adjusted for inflation) provided in the 2010 Tax Act, historically low interest rates and depressed estate values has provided an...
I hesitate to write an article containing hyperbole. Whenever I read something that contains terms such as unheard of, or my immediate, admittedly cynical, reaction is to doubt the assertions and question the author's credibility. That said, I now...
With 2011 come and gone, we look back at the recent developments in the area of asset protection planning. With fewer clients concerned about estate taxes due to the increased exemption, more advisors are addressing asset protection needs of the...
When opening up retirement accounts, most advisors (and their clients) usually give little thought to the process of completing the “beneficiary” section of the paperwork.
Fewer still perform any ongoing review of the designations, regardless ...
Inflation adjustments published The Internal Revenue Service published the 2012 inflation adjustments in Revenue Procedure 2011-52. The unified credit against estate tax under Internal Revenue Code Section 2010 was adjusted from $5 million to $5...
Inflation adjustments published The Internal Revenue Service published the 2012 inflation adjustments in Revenue Procedure 2011-52. The unified credit against estate tax under Internal Revenue Code Section 2010 was adjusted from $5 million to $5...
With the lifetime gift tax exemption at $5 million and the gift tax rate at 35 percent, now's a perfect time for taxpayers to take advantage of wealth transfer opportunities. But these opportunities aren't endless. Absent intervening legislation...
Lawyers drafting wills and trusts must regularly contemplate age-old issues such as ademption, advancement and lapse, as well as more recent issues such as who is to be considered a under the new biology of assisted reproduction. At common law, a...
