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President Trump signed into law H.R. 1, which has a major impact on estate planning. The new law doubled the federal exemption for estate tax, gift tax and the tax on generation-skipping transfers (GST), starting January 1, 2018; the lifetime exemption for each of these taxes is now $11.2 million per taxpayer. Married couples together […]
Gordon Schaller’s and Eric Bardwell’s article, “Double Whammy: Federal Estate Tax Repeal Could Substantially Increase Tax For California Residents” was published in the LISI Estate Planning Newsletter.
With all of the talk about potential repeal of the federal estate tax1, many people have decided to postpone further estate planning, hoping that the repeal will occur. However, Californians should hold out no such hope. On February 21, 2017, California State Senator Scott Wiener announced a ballot measure, Senate Bill 726, that would create […]
Download this article as a PDF: The 13.3% Solution: of DINGs, NINGs, WINGs and Other ThINGs Wealthy taxpayers have now experienced the impact of higher federal and state income tax rates for a full year.1 Many have created or would like to create trusts for their children and grandchildren, which also could be subject to extraordinarily […]
Executive Summary The Obama Administration released its proposed budget for fiscal year 2014 on April 10, which included several proposals affecting estate planning. These are described in the Treasury Department’s General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals (commonly referred to as “the Greenbook”). Noticeable by its absence was the perennial proposal to […]
Maximizing 2012 Gifts: A New Concept for Procrastinators Originally published in the LISI Estate Planning Newsletter #1996 (August 7, 2012) at http://www.leimbergservices.com/ “The once-in-a-lifetime opportunity to gift $5 million without gift or GST tax will close on December 31, 2012. As of January 1, 2013, the gift tax exclusion will revert to $1 million and […]
Gordon Schaller and Scott Harshman’s article, “Why Last Chance Estate Planning May End Soon” was reprinted by Steve Leimberg’s Estate Planning Newsletter, March 2012.
"Last Chance" Estate Planning May End SoonThis article was first published in the Orange County Business Journal, February 13, 2012 Much has been written about the perfect storm of estate planning: the coincidence of low values, low interest rates, valuation discounts and the $5 million ($10 million for a married couple) gift and estate tax […]
Volatility Can Kill Your Variable Life Policy By Gordon A. Schaller You or your spouse or parents may have purchased a life insurance policy several years ago. You always thought life insurance was a bad investment with returns of only 3-4%. However, this policy was supposed to be different – the premiums could be flexible […]
To almost everyone’s surprise, new legislation for estate and gift tax laws went into effect in 2011 that increased an individual’s exemption to $5 million ($10 million for a married couple) for both estate tax and gift tax purposes and reduced the estate and gift tax rate to 35%. Unfortunately, these new laws are only […]
