If qualified family-owned business interests (QFOBIs) make up more than 50 percent of your taxable estate, you may benefit from a special provision that can increase your total effective exemption ... |
For purposes of the federal transfer tax, you can — during your lifetime, or at death — give an unlimited amount of wealth to your spouse tax-free. This can be a great advantage, but ... |
A gift of property or money to a qualified charity is fully deductible against the gift tax (if made by the donor during lifetime) or against the estate tax (if made after death). By themselves, each ... |
While the estate and gift tax marital deductions apply only to the value of property transferred to your spouse, as a result of something called the "unified credit," a total of up to $1.5 million ... |
Since lifetime gifts and transfers at death are added together for purposes of the unified transfer tax, and taxed at the same rate, how can it be that lifetime gifts can save you transfer taxes? Two ... |
Trusts are extremely valuable estate planning tools. They are extensively used in connection with property held for minors, life insurance, marital deduction ... |
If you're trying to reduce the amount of your wealth that will be subject to the federal transfer tax by making lifetime gifts, giving away a life insurance policy can be a good idea. The reason for ... |
A power of appointment gives the holder of the power (usually the trustee of a trust) the right to appoint or give away property, usually the property held by the trust. The power may be limited by ... |
Property must be valued at its fair market value for purposes of the estate tax. In turn, fair market value normally is determined by a property's "highest and best use," that is, the use which would ... |
If the value of your small business makes up more than 35 percent of your adjusted gross estate, your executor may elect to pay the estate tax attributable to the business interest over a 14-year ... |
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