May 3, 2015 | Estate Planning
The Obama administration recently released its budget proposal for the 2016 fiscal year. As in past years, this budget proposes changes to the laws governing federal estate, gift and generation-skipping transfer (GST) taxes. Several of these changes would raise...
Feb 2, 2015 | Estate Planning
Utah residents who only own property in Utah generally don’t need to worry about paying estate taxes unless they have an estate large enough to incur a federal estate tax. In 2015, the federal estate tax exemption is $5,430,000, which means no estate tax is due...
Jan 28, 2015 | Estate Planning
The Internal Revenue Service has released the official inflation adjustments that will affect 2015 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes. 2015 Federal Estate Tax Exemption In 2015 the...
Jan 2, 2015 | Estate Planning
New Year’s Planning Tip #1 – Check Your Estate Tax Planning Now that the chaos of the holiday season is behind us, it’s a great time to make a New Year’s resolution to update your estate plan. One area that married couples should revisit is their estate tax...
Dec 26, 2014 | Estate Planning
Don’t let the chaos of the holiday season prevent you from avoiding federal gift tax by making “annual exclusion” gifts, medical payments gifts, and educational gifts. Make Annual Exclusion Gifts “Annual exclusion” gifts are transfers of money or property in an amount...
