In this piece from Forbes.com, Robert W. Wood details some estate tax steps to consider for calendar year 2010. Why do we need to take estate tax steps in a year when there is no estate tax, you might be asking? Because there is an estate tax in 2011 and taking steps now can reduce [...]
Joseph T. Hahn
All posts tagged gift tax
Estate Tax Steps for 2010
Posted by Joseph Hahn on November 10, 2010
http://hahnestateplanning.com/2010/11/10/estate-tax-steps-for-2010-2/
Estate Tax Strategies While Estate Taxes Are In Limbo
With the future of the estate and gift tax laws in limbo, planning ahead is a challenge for those trying to reduce the amount of their estates going to Uncle Sam after their deaths. This article from the New York Times details some strategies that folks can consider now, even before Congress takes action. In [...]
Posted by Joseph Hahn on September 19, 2010
http://hahnestateplanning.com/2010/09/19/estate-tax-strategies-while-estate-taxes-are-in-limbo/
Give Big Gifts In 2010 To Avoid Gift Tax In 2011
As we've highlighted before, this article in the New York Times discusses the fact that there is a reduced gift tax in 2010 (35% as opposed to 55% in 2011 if Congress does not act) and the wealthy should be considering making taxable gifts in 2010 as a way of avoiding estate taxes in the [...]
Posted by Joseph Hahn on August 30, 2010
http://hahnestateplanning.com/2010/08/30/give-big-gifts-in-2010-to-avoid-gift-tax-in-2011/
Time Running Out To Exploit Gift Tax Break
This Reuters article makes the point that, with gift tax rates for 2010 set at 35% (the lowest since 1934 when the rate was 33.5%), time is running out on making lifetime gifts at the 35% tax rate (35% after the $1 million lifetime exemption is exhausted). The gift tax will rise on January 1, [...]
Posted by Joseph Hahn on June 22, 2010
http://hahnestateplanning.com/2010/06/22/time-running-out-to-exploit-gift-tax-break/
Lifetime Gifting Strategies Minimize Estate Taxes
This article from NJ.com details the benefits of a lifetime gifting strategy to reduce the size of your taxable estate. While there is no estate tax presently in 2010, most people would prefer to die later, after the estate tax returns on January 1, 2011. Thus, to reduce the size of the taxable estate, it [...]
Posted by Joseph Hahn on June 21, 2010
http://hahnestateplanning.com/2010/06/21/lifetime-gifting-strategies-minimize-estate-taxes/
Estate Tax Deal In The Senate Taking Shape
The Hill reports that Republican Senator Jon Kyl is close to an estate tax deal in principle and as soon as sufficient revenue "offsets" are identified, the deal will be put forward in conjunction with a small business bill being considered at the same time. So what's the deal? Kyl wouldn't say but the general [...]
Posted by Joseph Hahn on May 12, 2010
http://hahnestateplanning.com/2010/05/12/estate-tax-deal-in-the-senate-taking-shape-2/
Estate Tax Deal In The Senate Taking Shape
The Hill reports that Republican Senator Jon Kyl is close to an estate tax deal in principle and as soon as sufficient revenue "offsets" are identified, the deal will be put forward in conjunction with a small business bill being considered at the same time. So what's the deal? Kyl wouldn't say but the general [...]
Posted by Joseph Hahn on May 12, 2010
http://hahnestateplanning.com/2010/05/12/estate-tax-deal-in-the-senate-taking-shape/
GRATs Endangered
This article from Financial Planning details the risks facing GRATs as an estate planning tool given recent Congressional actions to severely limit their availability to taxpayers. A ten year minimum term would take a big bite out of the attractiveness of the commonly-used trust. Also, the proposal passed by the House would eliminate "zeroed-out" GRATs, [...]
Posted by Joseph Hahn on April 30, 2010
http://hahnestateplanning.com/2010/04/30/grats-endangered/
GRATs Endangered
This article from Financial Planning details the risks facing GRATs as an estate planning tool given recent Congressional actions to severely limit their availability to taxpayers. A ten year minimum term would take a big bite out of the attractiveness of the commonly-used trust. Also, the proposal passed by the House would eliminate "zeroed-out" GRATs, [...]
Posted by Joseph Hahn on April 30, 2010
http://hahnestateplanning.com/2010/04/30/grats-endangered/
GRATs Endangered
This article from Financial Planning details the risks facing GRATs as an estate planning tool given recent Congressional actions to severely limit their availability to taxpayers. A ten year minimum term would take a big bite out of the attractiveness of the commonly-used trust. Also, the proposal passed by the House would eliminate "zeroed-out" GRATs, [...]
Posted by Joseph Hahn on April 30, 2010
http://hahnestateplanning.com/2010/04/30/grats-endangered/
