Resources

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...

What Is Estate Planning? What on earth is estate planning? Many people don’t have a clue. Estate planning sounds like a rich person’s concern. However, estate planning is not only for the rich. It is also...

The primary techniques to reduce or eliminate federal estate taxes in 2017 are as follows: 1. The Unlimited Marital Deduction. This technique avoids any federal estate tax on a transfer of property between spouses; however,...

A very effective tool for dealing with the federal estate tax is the Irrevocable Life Insurance Trust. This type of Trust is fundamentally different from a Revocable Living Trust. Because it is irrevocable, an Irrevocable...

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...