Tag: estate planning


What you need to know about filing gift and estate tax returns

Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a loved one who died recently? If so, you need to know whether you must file a gift or estate tax … Read More »

February 14th

Estate Planning Briefs. Comments Off on What you need to know about filing gift and estate tax returns


Building an on-off switch into your estate plan

The right estate planning strategy for you likely is the one that will produce the greatest tax savings for your family. Unfortunately, there can be tension between strategies that save estate tax and ones that save income tax. This is … Read More »

February 7th

Estate Planning Briefs. Comments Off on Building an on-off switch into your estate plan


Hastily choosing an executor can lead to problems after your death

Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an executor’s many responsibilities and complex tasks, it pays … Read More »

January 24th

Estate Planning Briefs. Comments Off on Hastily choosing an executor can lead to problems after your death


Sudden impact: When a spouse unexpectedly dies

What if the unthinkable happens and your spouse dies unexpectedly? Would you be prepared to cope emotionally and financially? As the surviving spouse, you’ll face several tasks and challenges.

First steps first

By no means complete, the following are areas that will … Read More »

January 17th

Estate Planning Briefs. Comments Off on Sudden impact: When a spouse unexpectedly dies


If you’re driven to transfer a vehicle’s ownership to a trust, know the risks

A revocable trust — often referred to as a “living trust” — can help ensure smooth management of your assets during life and avoid probate at death. And you may know that the trust isn’t effective unless you “fund” it … Read More »

January 3rd

Estate Planning Briefs. Comments Off on If you’re driven to transfer a vehicle’s ownership to a trust, know the risks


Estate planning lite: College-aged children need a basic estate plan

If your son or daughter currently is home from college on winter break, now is a good time to sit down and discuss a few estate planning documents he or she should have at this stage of life. Let’s take … Read More »

December 27th

Estate Planning Briefs. Comments Off on Estate planning lite: College-aged children need a basic estate plan


Automatic extension available for making portability election

Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or at death. To secure these benefits, however, the deceased spouse’s executor must have made a portability … Read More »

December 20th

Estate Planning Briefs. Comments Off on Automatic extension available for making portability election


A prenup or a DAPT: Which is the better choice?

If you or one of your adult children is getting married, you may be concerned about protecting your family’s assets in the event of a divorce. A prenuptial agreement can be an effective tool for overriding marital property rights and … Read More »

December 14th

Estate Planning Briefs. Comments Off on A prenup or a DAPT: Which is the better choice?


How incomplete nongrantor trusts can help avoid state income taxes

With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may … Read More »

December 6th

Estate Planning Briefs. Comments Off on How incomplete nongrantor trusts can help avoid state income taxes


Consider an intrafamily loan to cover estate taxes

Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option. While a life insurance policy can be … Read More »

November 29th

Estate Planning Briefs. Comments Off on Consider an intrafamily loan to cover estate taxes

HOBERMAN & LESSER, LLP