Tax and financial matters in planning your estate can become increasingly complex especially as you get older or accumulate more wealth. Certain professionals will offer the expertise, skills and support to help you create estate plans and it goes beyond having a relationship with an estate planning attorney. Some of the professionals that you’ll need… Read More »
Posts Categorized: Estate Tax
Should We Be Worried About Estate Tax Changes Under A New Administration?
It is not unusual to have at least some tax law changes when a new administration takes over. We’ll focus here on potential estate tax changes that may happen under President-Elect Biden’s administration. Under the Tax Cuts and Jobs Act of 2017 (TCJA), the federal estate tax threshold is at $11.58M (for 2020) and $11.7M… Read More »
Obama’s Budget and Estate Taxes
You have probably read that President Obama submitted his final budget to Congress recently and that it was greeted by Republicans as ‘dead on arrival.’ We don’t want to get into a political discussion here but it should be noted that there are several proposals that have drawn wide bipartisan support and could resurface as… Read More »
Updating Your Estate Plan in Light of “The New Paradigm”
A few weeks ago, The National Law Review ran a great explanation of what they call “the new paradigm” in estate planning. For many years, avoiding the federal estate tax — or at least minimizing one’s burden under the estate tax — was paramount among the estate planner’s goals. These days, it’s not so important…. Read More »