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…

4 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…

1 year 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…

1 year 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…

1 year 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…

3 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…

3 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…

3 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…

3 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