If you’re fortunate enough to give away substantial amounts of money or property during your lifetime, your generosity may be subject to federal gift tax rules. After death, your money and property, known as your estate, may... Continue Reading
Is your estate plan ready for the 21st century? Does it include care for your pet, a plan for parents you’re helping to support and a recipient for your digital assets – like the small business you operate online? Smart... Continue Reading
The following estate planning/retirement planning question was recently posed to Harry Gross concerning a whole life insurance policy received by an employee from his employer that was part of his retirement package: Dear... Continue Reading
Kathleen and her husband Jack are a professional couple in their 50s with no children or close family members. They realize that they have the resources to last the rest of their lives. They find comfort in knowing they will... Continue Reading
PLRs 201442042-201442046 (October 17, 2014) In these five Private Letter Rulings the taxpayers asked the IRS to approve a trust reformation made by a state court to correct a “scrivenor’s error” and to effectuate the... Continue Reading