Protect Your Legacy
The past month included important tax law developments that will significantly affect certain individuals. Some of these tax law changes included: dramatic changes to retirement plan payouts, final regulations confirming no estate tax clawback, and a ruling confirming trustee’s severance and spouse’s disclaimer of interest in marital trust. Final regulations confirm no estate tax clawback—Treasury […]
Tax Law Update: February 2020 Read More »
The New Year, 2020, has approached us and we have all undoubtedly made resolutions. Whether its leading a healthier lifestyle, traveling more, or spending more time with loved ones, reviewing your estate plan should be at the top of your list. While there is uncertainty as to what the 2020 election may bring, it does
Estate Planning New Year’s Resolutions: Resolve To Plan Better Read More »
The IRS has announced the official estate and gift tax limits for 2020: The estate tax and gift tax exemption is $11.58 million per individual, (up from $11.4 million in 2019). This means that an individual can leave $11.58 million to heirs and pay no federal estate or gift tax, while a married couple can
IRS Announces Higher Estate and Gift Tax Limits for 2020 Read More »
Preserving wealth can become increasingly difficult as it shifts through generations. In order to protect the legacy that you have worked so hard for, it is important to understand the challenges that you may face, and how you can overcome them. In 2019 the tax code provides that every penny in excess of $11.4 million
Multigenerational Wealth Preservation: What You Need To Know Read More »
Millennials will become the richest generation in American history as baby boomers transfer over their wealth. A study shoes that millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their baby boomer parents by the year 2030, and this will represent
Millennials To Become The Richest Generation in American History Read More »
The sunshine and palm trees are not the only reasons that individuals are leaving their home states of New York, New Jersey and Connecticut. The unyielding lower taxes are drawing more and more people to migrate South…for good. Florida received more movers than any other state last year, at 566,476 people, according to data from
New York vs. Florida : Tax Differences Between The Two States Read More »
There are distinct advantages in planning over a longer period of time. So planning now, in 2019, may not only increase the likelihood of the planning working, it will also make the planning less risky and more secure. But, due to today’s political climate, timing is key. Protecting assets for tomorrow means making intelligent financial
Estate Planning is Vital for High-Net-Worth Clients Read More »
The Internal Revenue Service announced that the official estate and gift tax limits for 2019 is $11.4 million per individual, (up from $11.18 million in 2018). That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax. As was the case under prior law, the exemption will
IRS Announces Higher 2019 Estate and Gift Tax Limits Read More »
Florida is known for the warm weather, sandy beaches, and luxurious lifestyle. While many individuals move to Florida due to these reasons, statistics have proven that most are moving in response to the changes to the federal tax law. By 2014, the Census Bureau noted that the population of Florida exceeded that of New York, yet
Where Have All the High-Net-Worthy Clients Gone? Read More »
