August 23, 2017

Each taxpayer is allowed - for federal gift, estate, and Generation Skipping Tax purposes - an exemption of $5,490,000 (for 20017 - the amount adjusts annually).  For decedents' estates who do not take full advantage of the exemption, the IRS Code allows - for gift and...

August 7, 2017

It is widely known that many states do not impose estate tax.  Here in the Northeast, it is common to hear someone say that she is a Florida resident, and thus

(i) pays no income tax and (ii) will avoid state estate tax.

True enough, if actually a resident and domiciliar...

August 1, 2017

The Generation Skipping Transfer Tax was instituted in 1986. Events and Transfers subject to this tax occur in various situations. And when they occur (even if there is no tax due) GSTT tax returns are required. Worse, if there is tax, the trustee may have personal lia...

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August 1, 2017

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