Federal Estate Tax Avoidance Archives

Person at table calculates how pending tax law changes impact on estate plan

Before the Sun Sets

October 8th, 2024

How will pending tax law changes impact your estate plan? The 2017 Tax Cuts and Jobs Act (TCJA) doubled the lifetime estate and gift tax exemptions at the time, with continued increases after 2018. Currently, in 2024, the exemptions stand at $13.61 m… Read More

It May Be Time for a Checkup

September 29th, 2020

There’s a lot of buzz lately about federal estate tax. Currently, we can each pass down $11,580,000 to the next generation free of estate tax. This tax exemption increases annually with inflation, but it will be cut by more than half at the end of… Read More

Maximizing Your Federal Gift Tax Exemption

April 7th, 2015

Although we don’t prepare income tax returns in our office, I am frequently asked about the tax consequences of various types of gifts. The general rule is that all gifts are taxable unless they fit into an exception. Fortunately, the exceptions ar… Read More

Maximizing Estate Tax Exemptions for Recent Widows and Widowers

October 28th, 2014

Beginning in 2011, decedents who leave their assets to their spouse can also transfer their unused estate tax exemption, commonly called “portability” under the IRS’s portability rules. The surviving spouse is eligible to receive the decedent�… Read More

Wright Beamer Founder Teaches Estate Planning to Lawyers

June 25th, 2013

William M. Wright – founder and of counsel attorney with Wright Beamer, PLC – recently taught a seminar at the Probate and Estate Planning Institute’s sessions in Traverse City and Plymouth. The Institute, which is sponsored by the Institute of… Read More

Estate Tax Changes Resulting From the American Taxpayer Relief Act of 2012

January 15th, 2013

The federal estate tax exemption represents the amount of money which an individual can give away during his or her lifetime, or, at death, without federal estate tax liability. The exemption amount grew from $675,000 per person in 2000/2001, to $5.1… Read More