Resources

Contributions to a Section 529 College Savings Plan (“529 Plan”) do not qualify for the exclusion for tuition payments, but can take advantage of the $14,000 (soon to be $15,000) annual gift tax exclusion. The...

The payment of a beneficiary’s medical expenses is excluded from the gift tax, with no limitation on the amount excluded. To qualify for this exclusion, the payment must be made directly to the provider, and it must be...

Despite the tax savings, you may be uneasy about making outright gifts to your children and grandchildren, due to the loss of control over when and how they use the gift. This concern can be addressed by making the gifts in...

You should review your charitable giving to ensure that it is being done in the most tax-efficient manner. Charitable giving is an important form of estate planning. Gifts to charity are not (and never have been) subject to...

The tax law was changed in 2015 to permanently allow tax free Charitable Gifts from an Individual Retirement Account (“IRA”) by those over age 70-1/2. The law allows an “exclusion from income” of up to $100,000 per...

The current federal gift and estate tax “exclusion amount” (exemption) is $5,490,000. The IRS recently announced that, effective as of January 1, 2018, this exclusion amount will be increased (inflation-adjusted) by...

By: R. Leonard Davis, III, Esquire “Put not your trust in money, but put your money in trust.”  — Oliver Wendell Holmes Interest remains high in a very old, but until recently infrequently used, estate...

Most estates are exempt from federal estate tax and are not required to file a Federal Estate Tax Return on Form 706 or pay any Federal Estate Tax. The current (2017) exemption amount is an inflation-adjusted 5,490,000. A...

Each year thousands of pedestrians are injured and killed in accidents with vehicles.  These accidents are tragic but often preventable.  Drivers and pedestrians need to take steps to ensure everyone’s safety.  Contact...

In the U.S., medical malpractice – the reckless or negligent actions of medical professionals – results in thousands of serious injuries and even deaths each year.  Shockingly, each year medical instruments are left...