Each individual has a lifetime exemption that they can use to transfer assets either during their lifetime or at their death without incurring any federal estate or gift taxes. The 2017 Tax Act ...

Unfortunately, this scenario may not play out as intended, but it does have some potential benefits. Taxes on gifts and ...

When it comes to passing wealth to the next generation, one of the most powerful tools in our toolbox is the use of your lifetime gift, estate, and generation-skipping transfer tax (GST) exemption ...

The current exemption on the federal (lifetime) gift tax and estate tax are set to sunset at the end of 2025. Unless Congress acts to forestall the sunset, the exemption will revert to regulations as ...

In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but ...

As part of the Tax Cuts and Jobs Act of 2017, the lifetime estate and gift tax exemption — how much money a taxpayer could give away before paying estate tax — was doubled. Before 2017, the maximum ...

Each year, a person may gift thousands of dollars to as many different persons as that person desires, without triggering U.S. gift tax or using one’s lifetime exemption. In 2024, the annual gift tax ...

The Tax Cuts & Jobs Act (TCJA) of 2017 reshaped the tax landscape, implementing the largest change in the tax code in three decades. Most notably from an estate planning perspective, the Act doubled ...

With the Tax Cuts and Jobs Act (TCJA) sunset provision set to expire December 31, 2025, America’s wealthiest families may have just six months to transfer up to $28 million tax-free. Without ...

St. Paul Business Journal held a recent panel discussion about the financial landscape surrounding estate planning and a ...

The annual $10,000 gift tax exclusion will increase to $11,000 this year, and anyone who has an estate vulnerable to estate taxes or who is funding high-cost college expenses should consider using ...