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Ask an Estate Planner: The Future of Estate Taxes

DEAR ESTATE PLANNER: I heard that the federal estate tax might be repealed? —TAX TARGET DEAR TARGET: Probably not this year. True, the House of Representatives passed an outright repeal of the federal estate tax and the federal generation-skipping transfer tax earlier this year. The repeal would take effect upon enactment. The legislation preserves the […]

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Charities and Will Controversies

A recent Tax Court decision shows how estates of well under $1 million still can run into significant tax trouble. Eileen Belmont’s 1994 will left all of her property to her mother, Wilma. It further provided that should Wilma die first, Eileen’s brother David was to receive $50,000, and the balance of the estate would […]

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Adult Children and Trusts

There is a new message that the very wealthy are delivering to their children, a message heard more and more often. And it is a message that could just as well be delivered to the children of parents with somewhat more humble accumulations of assets. To state it bluntly, the message is: Don’t automatically assume, […]

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