Forthcoming Changes in Gift and Estate Tax Thresholds In the complex world of gift and estate tax planning, significant changes are on the horizon. The 2026 sunset, a date circled in red on the calendars of tax professionals and high-net-worth individuals, potentially signifies the end of the current, more generous tax-free lifetime estate and gift tax thresholds. The authors share their thoughts on how the ...

An Opportunity for Gift and Estate Planning at Low Valuations The disruption brought about by COVID-19 created certain industry “winners” and “losers.” Many of those that emerged as losers are small and medium-sized privately held businesses such as restaurants, bakeries, gyms, hair salons and spas, and the corresponding real estate holding entities that leased to such businesses, held retail and office spa ...

Funeral Service Retirement Challenges The funeral industry is dynamic and one where often the directors “build to serve” and overlook the importance of “build to sell”. The authors here provide an overview of the valuation and consulting opportunities. ...

FLPs Remain a Viable Intra-Family Transfer Option, But Act Now The Internal Revenue Service has floated the idea of making regulatory changes to the implementation of section 2704, in this article the author gives us an update on the subject and underscores the need to facilitate intra-family transfers of businesses. ...

Couples Face Many Challenges in Retirement Planning A lot can go wrong when couples plan for retirement.  Updating important documents and communicating about retirement goals and plans can help couples overcome challenges.  Rodney Brooks, columnist for The Washington Post, discusses some tips to help couples become more prepared. To read the full article in The Washington Post, click: When it Takes Two to ...

Making decisions when faced with a difficult situation is not an effective estate planning strategy.  Encourage clients to plan before a stressful life change occurs.  It is important to help them set up health care proxies, consider nominating guardians or conservators, and revise estate plans when they make changes to their wills or trust.  Patricia M. Annino, from Estate Planning practice at Prince Lobel ...

The House passed a bill earlier this year that would repeal the estate tax, but it's unlikely the Senate will approve the measure.  David Lenok, senior editor for Wealthmanagement.com and Trusts & Estates, looks at an act that would allow people who expect to owe estate taxes to pay what they owe while they are still alive. To find out more on this Wealthmanagement.com article, click: Bi-Partisan Estate ...

Push past estate planning fatigue and build a better relationship with your clients and their descendants.  Many advisors find difficulty and obstacles when guiding their clients through this process.  Kimberly Bernatz, Senior Vice President and Director, Wealth Management Advisory Services, First American Trust, FSB, walks you through some important steps to keep in mind when developing an estate plan.  To ...

What is the level of uncertainty behind why 401(k) plan sponsors don’t change default investment options?  Hazel Bradford, reporter (Washington), visits this issue and addresses some concerns. To find out more on the Pensions & Investments’ article, click: GAO: 401(k) plan executives hesitant to change default options. ...

Are you aware of the new reporting requirements required between an estate and anyone acquiring property from the decedent?  Alistair M. Nevius, J.D., JofA’s editor-in-chief, explains the new reporting and statement requirements. To find out more on the JofA’s article, click: New law imposes immediate estate basis and reporting requirements. ...

High account balances is an often overlooked risk related to sequence of returns especially for investors within five years of their retirement.  Ron Surz, target-date fund expert and ThinkAdvisor contributor, warns that most target-date investors are in grave peril. Read more about why sequence of returns is so risky in this article at ThinkAdvisor. ...

Because of stock market volatility, taxpayers may want to convert to Roth individual retirement accounts.  Taxpayers, after converting to the Roth, have until October 15 to undo it, as long as the conversion is set up correctly, says Robert Keebler, partner, Keebler & Associates LLP, in The Ultimate Estate Planner Blog. Image courtesy of Stuart Miles/FreeDigitalPhotos.net ...

Fifth Circuit Affirms District Court and $83 Million in Unpaid Taxes and Interest Owed by Donees The Fifth Circuit recently affirmed the district court’s decision and the imposition of unpaid taxes and interest on donees of shares sold at less than fair market value to the company owed by relatives of the donor. As Joe Brophy explains, this case illustrates the pitfalls of deathbed planning involving asset ...

Key Issues For all of Mr. Koons’ careful estate planning, involving a significant sale and redemption transaction of business operations to provide liquidity and flexibility in his later years, the planning was disrupted by an untimely death—Mr. Koons’. The disruption here highlights the importance of starting early with business valuation input to help avoid a complex confluence of strategic transactions w ...

  It was a shock to most people when the news hit that actor and comedian, Robin Williams, had suddenly passed away earlier this month at the age of 63. While most were aware of Mr. Williams’ hard-won 20-year sobriety milestone, what they didn’t know was the financial struggle he was facing in recent years. Forbes.com takes a respectful and detailed look at the estate planning of Mr. Williams, and show ...