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Whether you need to create a simple Will, protect your assets, or plan for your business, our team is here to help.
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Apr
Which Will Would You Choose? If you or your loved ones have not yet created a will, you are not alone. In fact, according to a recent survey, not having created a will puts you among the majority of Americans. Like many Americans, you may wait for a major life event to occur befo...
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Apr
Estate planning can be a significant part of successful financial management, especially for married couples. One key consideration is minimizing estate taxes, which can substantially affect the distribution of money and property to a married couple’s loved ones. What Are Gift...
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Apr
The Countdown Begins: Will we keep the $10 Million Exemption? The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate tax exemption to $10 mil...
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Apr
A recent decision by the North Carolina Business Court could have significant ramifications for North Carolina’s taxation of trusts. In Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Department of Revenue, the court struck down North Carolina’s statute that taxes tru...
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Apr
For some, 2023 can be summed with two letters: AI. From the promises (“Now we are all ivy-league graduates! ”) to the doomsday predictions (“Terminator is no longer science-fiction! ”), 2023 has been the year of artificial intelligence. It was also the year that vinyl records exce...
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Apr
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding the ownership of their entity. The CTA was enacted to help combat money launde...
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Apr
The United States hosts the highest number of immigrants in the world, but increasingly, Americans say they are looking to relocate permanently to another country. A large percentage of wealthy Americans are also interested in buying real estate overseas and living there at leas...
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Apr
We are coming to the end of another year! It has been, yet again, a roller-coaster of a ride. This year marked the apparent end of Covid, as well as The Godfather’s fiftieth anniversary. And, of course, we all are feeling the pinch of rising inflation rates. For estate planners...
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Apr
The Tax Cut and Jobs Act of 2017 (TCJA) doubled the exemption amount available during lifetime or at death from $5 million to $10 million, inflation adjusted, until January 1, 2026. The 2022 exemption amount is $12. 06 million and will decline under current law, subject to further...
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Apr
The Internal Revenue Service has announced the annual inflation adjustments for the 2022 tax year: 2022 Gift and Estate Tax Exclusion $12,060,000 GST Tax Exemption $12,060,000 Gift Tax Annual Exclusion $16,000 Annual Exclusion for Gifts to Noncitizen Spouse $164,000 Federal appli...
View MoreWhether you need to create a simple Will, protect your assets, or plan for your business, our team is here to help.
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