Preservation | Family Wealth Protection & Planning

In 2020, the estate/gift and generation-skipping (GST) transfer tax exemptions are each $11.58 million per person, and the tax rate for each is 40 percent. These exemptions will be reduced to $5 million (indexed for inflation) on Jan. 1, 2026, assuming Congress does not change the exemptions sooner.

This is the eighth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here.

A Spousal Lifetime Access Trust (SLAT) is a type of trust that provides an opportunity for the grantor of the trust to utilize his or her remaining estate and gift tax exemption while also allowing the grantor’s spouse to benefit from the assets transferred.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for October 2020. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

This is the seventh installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here.

This is the sixth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. The next post will conclude the series with a discussion of charitable giving.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for September 2020. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

This is the fifth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover installment sales to defective grantor trusts and charitable giving.

This is the fourth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

This is the third installment in a seven-part blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover creating Grantor Retained Annuity Trusts, family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

For the parents of students entering college this fall, there are some unique challenges in store. In navigating all the changes related to the pandemic’s effect on college students, it’s possible you are missing one of the most important items: Having your child sign durable powers of attorney.