Family Wealth and Estate Planning Articles
Three Reasons to Use Valuation Pros in Estate Planning
Posted by Cheryl A. Jankowski on December 17, 2019
Some business owners design their estate plans without consulting a business valuation professional, but do-it-yourself valuations can be risky.
The Potential Impact of New Appraisal Regs On Charitable Giving
Posted by Cheryl A. Jankowski on November 07, 2019
Do charitable gifts play an important role in your estate plan? If you make or plan to make substantial noncash gifts to charity, you should be aware of how new requirements for appraisals can affect those donations.
Claiming Your Parent as a Dependent
Posted by D’Marie Murray on September 13, 2019
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks.
Tax Strategies for Seniors
Posted by Robert Ingrasci on September 04, 2019
Good things come to those who wait. Older taxpayers may be entitled to some age-based tax breaks.
Summer Loving? Financial Considerations to Think About Before You Tie the Knot
Posted by Kelsey Weigel on August 20, 2019
For many couples, summer is the quintessential time to tie the knot, but there's more than the ceremony to consider when a couple merges their lives, including taxes and other financial issues.
Five Mid-Year Tax Planning Strategies for Individuals
Posted by Cheryl A. Jankowski on August 05, 2019
Whether you are looking for ideas to help cut your tax bill for the current year, or you are hoping to minimize future taxes, now is a good time to start thinking about your tax planning strategies.
IRS Approves Spousal IRA Rollover Despite Existence of Trust
Posted by Robert Ingrasci on July 02, 2019
The IRS has privately ruled that a surviving spouse can roll over their deceased spouse's IRA — payable to a trust of which they sole trustee and beneficiary — into their own IRA. Generally, where an IRA beneficiary is a trust, a surviving spouse is barred from treating a decedent's IRA as their own account.
Beneficiaries Learn a Lesson About Paying Estate Taxes
Posted by D’Marie Murray on June 27, 2019
Beneficiaries of a South Dakota estate failed to make a payment when submitting a federal estate tax return — and again failed to pay when the IRS subsequently notified them of additional assessments. The IRS sued. In U.S. v. Ringling (2017), a district court reviewed the facts and ultimately granted the IRS's summary judgment motion.
IRS and Treasury Release Second Set of Opportunity Zone Guidance
Posted by Cory Van Deusen V on June 14, 2019
On April 17, 2019, the IRS and Treasury issued its much anticipated second set of proposed regulations under Internal Revenue Code, Section 1400Z-2, Special rules for capital gains invested in opportunity zones.
When to Update Your Estate Plan
Posted by Cheryl A. Jankowski on June 11, 2019
Estate planning isn't just for the rich and famous. While it's true that the Tax Cuts and Jobs Act (TCJA) provides generous estate tax relief, even for well-to-do families, the need for estate planning has not been eliminated. There are still numerous reasons to develop a comprehensive estate plan and regularly update it.