Generation-Skipping Involves A Transfer Tax
In addition to estate and gift taxes, a third tax applies to assets you transfer to someone two or more generations below you, such as your grandchildren. This “generation-skipping transfer […]
Can I Claim My Elderly Parent As A Dependent?
For you to deduct up to $3,900 on your 2013 tax return under the adult-dependent exemption, in most cases the parent must have less gross income for the tax year […]
Portability Doesn’t Preclude Need for Marital Transfers & Trusts
Exemption portability, made permanent by the American Taxpayer Relief Act of 2012, provides significant estate planning flexibility to married couples if sufficient planning hasn’t been done before the first spouse’s […]