Ah spring. With the first set of income tax filings behind us, it is time to think about spring cleaning and summer plans, and estate planning is no different. Take this opportunity to review and assess your personal finances and ask a few questions: 1. Are your investments titled properly to protect you and your [...]
Estate Planning Update January, 2017 2017 Annual Gift Tax Exemption: remains at $14,000 per donor, per donee. 2017 Gift and Estate Tax Exemption: rose to $5,490,000 per donor, inflation adjusted. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2017 Generation Skipping Tax Exemption: $5,490,000 per donor, inflation adjusted. Top rate for Federal Estate, Gift and Generation [...]
As business owners turn their attention to the fourth quarter, their minds turn to what needs to be done before year end. Most successful organizations are good at their business and don't have a lot of legal issues so their corporate records get overlooked or pushed to the bottom of the pile, year after year. [...]
The last two months of the year are always busy. Family, friends, and events pile up on each other making you long for the slow pace of summer. With this in mind, we don't recommend an exhaustive analysis at this time, but like the 3 year-end estate planning tips below to review at year-end. Otherwise, [...]
Estate Planning Update July, 2016 2016 Annual Gift Tax Exemption: remains at $14,000 per donor, per donee. 2016 Gift and Estate Tax Exemption: rose to $5,450,000 per donor, inflation adjusted. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2016 Generation Skipping Tax Exemption: $5,450,000 per donor, inflation adjusted. Top rate for Federal Estate, Gift and Generation [...]
Trusts, estates, partnerships, corporations and LLCs are now expressly covered by the ATF’s regulations covering machine guns, destructive devices, sound suppressors, short-barreled rifles and shotguns and any other weapons that would not be considered a traditional pistol or rifle. National Firearms Act, 26 U.S.C Chapter 53 (the “NFA”). The ATF laws can be found at [...]
Estate Planning Update 2016 2016 Annual Gift Tax Exemption: remains at $14,000 per donor, per donee. 2016 Gift and Estate Tax Exemption: rose to $5,450,000 per donor, inflation adjusted. Marital Deduction for Transfers to U.S. Spouse: unlimited. 2016 Generation Skipping Tax Exemption: $5,450,000 per donor, inflation adjusted. Top rate for Federal Estate, Gift and Generation Skipping [...]
Time for your year-end corporate review. Why? For over twenty years I have represented closely held and family business and am always amazed at the lack of attention that business owners pay to their corporate documents. Even limited liability companies have minimum requirements which need to be maintained. A recent tax case highlights the need [...]
I am often asked to include in a will or trust a provision that states something along the lines of "If any beneficiary contests the provisions of this document, the beneficiary will receive $1 in lieu of their share of the estate." The theory is that the provision will prevent or discourage frivolous litigation. The provisions [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com Estate Planning Update 2015 1. 2015 Annual Gift Tax Exemption: remains at $14,000 per donor, per donee. 2. 2015 Gift and Estate Tax Exemption: rose to $5,430,000 per donor, inflation adjusted. 3. Marital Deduction for Transfers to [...]
