Gift and Trust Taxation

2024 Federal Tax Rates

Each year statutory provisions require the IRS to adjust tax rates based on inflation. Although we're a bit tardy posting…

2 months ago

IRS says “Wait a Minute” on Stepping-up Basis for Assets in Irrevocable Trust

Until recently, the IRS has said little (if anything) regarding whether assets the beneficiary of an irrevocable trust receives get…

10 months ago

Setting Up a Tax Exempt Organization

There are several steps in setting up a tax exempt organization. We're reviewing them here. However, this post is not…

10 months ago

Elder Law Mishmash June 2023

The following is a mishmash of information on various Elder Law, Special Needs Law, and Estate Planning issues. It also…

11 months ago

News Roundup 1-21-2022

General News Sources: Oldest person in the US reportedly dies at 115 Supreme Court declines to hear case of Delphi…

2 years ago

Gift Tax Planning

A recent Forbes article by Matthew Erskine, 2022 Transfer Tax Update, suggests that now is the time to make gifts…

2 years ago

News Roundup – December 16, 2021

General Sources: Autism Society's Capital Connection 12-16-2021 (reviewing Build Back Better Act) National Health Care Spending in 2020: Growth Driven…

2 years ago

News Roundup – November 21, 2021

News Sources: Elder Law Attorney Daniel Tully has 9 questions you should ask before you or a loved one goes…

2 years ago

2022 Estate and Gift Tax Exemption Amounts

In 2022, the annual gift tax exclusion will increase from $15,000 to $16,000 per recipient. In 2022, the estate and…

2 years ago

Estate Tax and Gift Tax Anti-Claw Back Regulations

In 2021, the life-time estate and gift tax exemption is $11.7 million per donee (dead person or giftor). The exemption…

3 years ago