Category Archives: Gifting
Should You Use a Gift Account for Minors?
Expanding your family through the birth of grandchildren is an exciting prospect. It also prompts plenty of grandparents to think about how they could effectively help their grandchildren save. This is a common goal for many parents as well as grandparents who want to leave behind a legacy and a gift for minor children… Read More »
Is Now the Right Time for Gift Planning?
There could be major changes in tax and estate laws as a result of the November election, which means it’s important to think about estate as well as wealth transfer planning. The support of an experienced and dedicated estate planning lawyer can go a long way in helping you to answer your questions and… Read More »
The Heart, As Well As The Head, Plays Role In Estate Decisions
Good estate planning goes behind the numbers to take the individuals involved into account. When it comes to giving gifts to family and loved ones through a will or while still alive, there are tax implications to be taken into consideration, but a host of other factors come into play, as well. A recent… Read More »
Tax-Free Gifts Flowed After Congress Changed The Law
A law passed late in 2010 has resulted in a quadrupling of tax-free gifts less than two years later, according to a recent item by Bloomberg News. (Photo credit: Wikipedia) Congress approved legislation that let wealthy Americans make gifts with no tax penalties of as much as $5 million, and they sure responded, the… Read More »
While Not Advisable, Battling IRS Need Not Mean Defeat
Getting into a fight with the Internal Revenue Service is almost never a good idea. However, one wealthy woman did win a legal battle regarding the gift tax exemption. “There wouldn’t seem to be a whole lot of loopholes available for people making use of the gift tax exemption to reduce their estate taxes,”… Read More »
Changes in the Law Change Where it’s Best to, Um, Die
Death may be a certainty, but the taxes attached to departing this veil of tears are anything but. “When it comes to state death taxes, nothing’s certain,” according to a recent article on Forbes.com. Entitled “Where Not To Die In 2013 Update,” the piece described changes in the law in various states that have… Read More »