[This article was originally published on 2/23/2012 as Steve Leimberg’s Estate Planning Newsletter #1929.] Practitioners continue to express concerns about the possible “clawback” of tax benefits if a taxpayer uses the current $5,000,000 federal gift and estate tax exclusion amount...
[This article was originally published on 1/31/2011 as Steve Leimberg’s Estate Planning Newsletter #1768] The new tax act [Tax Relief, Unemployment Insurance Reauthorization, and Jobs Creation Act of 2010] provides a gift and estate tax exclusion of $5,000,000, and many...
The Internal Revenue Service has published proposed regulations on the impact of the changes to the federal estate and gift tax basic exclusion amount (BEA), which doubled from $5 million to $10 million in 2018, but will return to $5 … Continue reading
A new Webcalculator for “grantor retained annuity trusts” (GRATs) is now up and running. … Continue reading
The Internal Revenue Service has released Rev. Proc. 2018-57, 2018-49 I.R.B. ___ (12/3/2018), with the official inflation adjustments for 2019. The published adjustments for income taxes differ in many cases from the inflation adjustments that were published here in September, … Continue reading
With the release of the Chained Consumer Price Index (C-CPI-U) for August 2018, it’s possible to calculate various inflation adjustments for 2019. The following are the significant federal estate planning numbers, with the numbers for 2018 shown in parentheses: The … Continue reading
This is an overview/explanation from Webcalculators. (For additional information about grantor trusts, see “Intentional Grantor Trusts in Pennsylvania.”) … Continue reading
This is an overview/explanation from Webcalculators: … Continue reading
This is an overview/explanation from Webcalculators: … Continue reading
The executor or administrator of a decedent’s estate is required to file the estate tax return for the estate (I.R.C. § 6018(a)) and is liable for the resulting tax (I.R.C. § 2002), and is required to file the decedent’s income...