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Posted by Jeffrey Gehring | Oct 12, 2020 | Tax, Taxation
One traditional estate planning technique that has become increasingly popular in recent months is the Grantor Retained Annuity Trust (GRAT). Simply stated, a GRAT is an irrevocable trust where the grantor contributes property...
Read MorePosted by Jeffrey Gehring | Dec 9, 2019 | Jeffrey Gehring, Tax, Taxation
With the gift/estate tax exemption of $11,580,000 (in 2020) set to expire or “sunset” on December 31, 2025, many advisors have encouraged high net worth clients to make large taxable gifts and “use up” their gift tax exemption...
Read MorePosted by Jeffrey Gehring | Mar 18, 2019 | Estate Planning, IRS, Tax, Taxation
Generation-Skipping Transfer (GST) trusts have long been a popular estate tax planning tool used to defer transfer tax to a future generation. While the estate tax exemption is at a historical high, the GST tax exempt status of...
Read MorePosted by Jeffrey Gehring | Dec 10, 2018 | Uncategorized
With the historically high gift and estate tax exemption amounts ($11,180,000 in 2018, increasing to $11,400,000 in 2019) currently in effect, wealthy taxpayers are encouraged to make lifetime gifts to use up some or all of...
Read MorePosted by Jeffrey Gehring | Mar 19, 2018 | Jeffrey Gehring, Tax, Taxation
Under the new tax law enacted effective January 1, 2018, Congress doubled the gift, estate and generation-skipping transfer (GST) exemptions. Based on inflation adjustment information available at that time, those amounts were...
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