The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Grantor-retained annuity trusts, or ‘Grats,’ are a wealth-transfer technique that shift investment growth out of an estate to heirs tax-free.
A trust is an estate planning tool that you may consider using if you want to go beyond drafting a last will and testament.
There’s a tax-smart way to make bequests by using assets from individual retirement accounts at death.
Avoidance of estate taxes is one consideration in estate planning.
The way in which assets are titled can be vital.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
These vehicles let a family manage multiple interests, preserve parental control and protect assets from claims of creditors and divorcing spouses, among other benefits.
One of the most overlooked and misunderstood tax laws – available to married farming couples – is an opportunity called portability.
Everyone likes money, right? Giving money to family or friends can also be a smart tax planning move.
