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 […]
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 […]
Eric Bardwell and Gordon Schaller’s blog article was featured by Wealth Strategies Journal and the Real Property Trust and Estate Law eReport.
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.