• December 4, 2023Estate Planning

    Estate Freezing and Gifting – Estate Planning In The Shadow of The TCJA Sunset

    Under the current federal tax code, the lifetime gift and estate tax exemption for an individual is $12,920,000 and $25,840,000 for a married couple. However, unless legislative action is taken to extend these exemptions, decedents who pass away after January I, 2026, will have effectively half of the previous exemption amount estimated to be around...
  • Life Insurance and the Taxable Estate
    January 20, 2023Trusts & EstatesEstate Planning

    Life Insurance and the Taxable Estate

    An often overlooked component of an estate for the purpose of calculating estate tax are the death benefit of and cash value in a life insurance policy. Even though these benefits may go to a child or other third person designated as a beneficiary on your policy, you and your spouse should take the value...
    July 25, 2022Trusts & EstatesEstate Planning

    Purposes Of Estate Planning

    The primary goal of estate planning is to assure the transfer of a decedent’s property to the beneficiaries of his choice at the smallest possible financial and emotional cost. During the course of a lifetime various types of property are accumulated and many personal relationships are developed. The twin foundations of all estate plans are...