Q. My wife and I were wondering how much we could leave to our children free of any gift or estate tax? A. The answer may surprise you. A married couple can actually transfer to up to $10,980,000 to their children, free of any gift or estate tax (in 2017). You can either do so… Read More »
Monthly Archives: July 2017
Trusts Will Still Be Useful Even If Estate Tax Is Repealed
Q. I hear that the federal estate tax may be repealed during this administration. If that happens, will trusts still be a useful estate planning device? A. In a word, yes. But remember, the federal estate tax now only kicks in if your estate is valued at more than $5.49 Million at death (2017). At… Read More »
Powers of Attorney Are Not All The Same
Q: My friends and I were recently discussing powers of attorney. It seems that we have different understandings as to what they look like and how they can be used. Can you provide me with a short lesson which I can share with them? A. Sure. Powers of attorney are very important legal documents. In… Read More »