The IRS issued final portability regulations concerning the election of portability for the deceased spousal annual exclusion (DSUE) amount and the rules for the use of the DSUE amount by the surviving spouse. These regulations,... Continue Reading
Although limited liability companies can be an attractive alternative to forming traditional corporations, whether or not an LLC is any more or less vulnerable to having its veil pierced in Pennsylvania remains a gray area in the... Continue Reading
According to the IRS website, federal estate tax closing letters will no longer be automatically issued. Instead, for estate tax returns filed on or after June 1, 2015, closing letters will only be issued upon request. Taxpayers... Continue Reading
Not everything you own will automatically go through probate. The obvious assets that will need to be probated are those with a title that is in your name only. These might include bank accounts, investments, home, other real... Continue Reading
In the majority of cases, the purpose of a trust is the preservation of assets for future generations. In plain English, trusts are often vehicles intended to help take care of the trustor’s (ok I cheated, this word is pure... Continue Reading