Tag Archives: estate tax planning

Effective for 2023, the federal estate tax exemption increases to $12.92 million, or $25.84 million for married couples filing joint tax returns. What this means is that individual taxpayers can transfer up to $12.92 million in assets to their heirs (or up to $25.84 million for married couples filing jointly) during life or at death […]

It is no secret that the U.S. tax code is complicated. For foreign persons, compliance with U.S. tax laws is particularly onerous, especially when considering that different rules apply for income and estate tax purposes, and neither depends on an individual’s immigration status. For income tax purposes, the U.S. presumes foreign persons to be nonresident […]

Thanks to expanded federal estate tax exemptions introduced in 2018, very few families have been subject to federal estate, gift and generation-skipping transfer (GST) tax. However, because the higher exemption is a temporary provision of the tax law and subject to change under the influence of shifting political powers, families must prepare their estate plans […]