Estate & Trust

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Overview of Charitable Remainder Trusts

By |2019-05-14T16:26:26+00:00May 14th, 2019|Estate & Trust, News & Events|

The charitable remainder trust (CRT), which has been a valuable estate planning tool for decades, has not been forgotten. Currently, the usual 15% tax rate on long-term capital gains is increased to 20% for upper-income investors, while a 3.8% surtax may also apply to a portion of your investment income. Thus, CRTs remain a popular [...]

IRS Provides Extra Estate Tax Protection

By |2019-02-05T19:22:42+00:00February 5th, 2019|Estate & Trust, News & Events|

The IRS has provided some estate planning comfort for well-to-do individuals. Under the Tax Cuts and Jobs Act (TCJA), the estate tax exclusion was raised to $10 million, indexed for inflation. That provides plenty of leeway for most families. However, like many other TCJA changes for individuals, this provision is scheduled to “sunset” after 2025. [...]

Seven Reasons to Have a Will

By |2018-12-20T15:57:03+00:00January 3rd, 2019|Estate & Trust, News & Events|

Many music lovers were dismayed by the recent death of Aretha Franklin, the famous recording artist. Also dismaying: The “Queen of Soul” passed away without a legally enforceable will. This could lead to serious complications. What about you? If you do not have a will in place, do not wait any longer. There are numerous [...]

The Estate Tax Lives On

By |2018-03-08T22:01:30+00:00March 10th, 2018|Estate & Trust, Individual Tax, News & Events|

Reports of the death of the federal estate tax are premature. Significantly, the TCJA retains the federal estate- and gift-tax systems but doubles the federal estate tax exemption to $11.2 million for 2018. (The $5 million exemption was scheduled to be indexed to $5.6 million in 2018.) This increase will vanish after 2025. As a [...]

2018 Gift Tax Exclusions

By |2018-02-19T17:36:59+00:00February 5th, 2018|Estate & Trust, News & Events|

As expected, the IRS announced that the annual gift tax exclusion is finally going up in 2018, to $15,000. The annual exclusion, which is increased only in increments of $1,000, had been set at $14,000 per recipient for the past five tax years (2013-2017). Thus, if you have five grandchildren, you can now give [...]

Ten Moves Forward for a Second Marriage

By |2017-05-25T20:36:08+00:00May 30th, 2017|Estate & Trust, Individual Tax, News & Events, Pension Admin & Consulting|

Consider estate-planning implications If you are getting remarried, you may face some special estate-planning challenges, especially if you have children from a prior marriage. The following 10 tips may help. 1. Talk with one another. Do not start off a marriage by hiding financial interests or concerns from one another. For instance, if you intend to [...]

ABLE Accounts: tax-advantage savings program for people with disabilities

By |2017-05-18T22:55:00+00:00February 17th, 2017|Accounting & Auditing, Estate & Trust, Individual Tax, News & Events|

Early last year we discussed the ABLE Accounts as a potential option for Alabama families.  By December, the state of Alabama instituted the program, per State Treasurer Young Boozer, with a contract with the state of Nebraska.  The Alabama plan will be known as Enable Savings Plan Alabama, and more information can be found at [...]

Adding a Prenup to Your Estate Plan

By |2017-05-18T22:55:01+00:00December 28th, 2016|Estate & Trust, News & Events|

Are nuptials on the way? Suppose that you are going to be married soon. Perhaps it’s a second or even third marriage. Or maybe another family member—for example, a son or daughter, or a grandchild—will be the one walking down the aisle. In any event, it should be a blissful occasion. But you cannot ignore [...]