All Posts Tagged Tag: ‘estates’

Estate Tax Exemptions

Don’t let your spouse’s estate tax exemption die with them! No estate tax return is due for estates below the soon to be reduced $5 million tax exemption threshhold. Without filing a return, however, a married couple can lose the benefit of the excess exemption, because it does not automatically carry over to the surviving spouse. And even that will […]

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Power of Attorney & Incapacity

Up until October 1, you could give someone a Power of Attorney to manage your affairs on the condition that they could not use it unless you lost capacity. Under the new law, such a condition renders the entire document invalid. This condition was so popular that many templates included it by default. Just another trap for the “do it […]

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Paying for Grandchildren’s Educational Expenses

Paying for a grandchild’s educational expenses can be a very tax-efficient and asset-protected way to transfer wealth that would otherwise be subject to estate tax, plus an additional generation skipping tax. You can give $65k ($130k if married) to a 529 plan every five years, and you can give an unlimited amount if paid directly to a qualified educational institution. […]

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