As we enter 2025, several key updates have been made to federal estate and gift tax limits, presenting valuable opportunities for individuals and families to optimize their estate planning strategies. Here’s a breakdown of the most significant updates: Estate and gift tax exemptions for individuals are set at $13.99 million. Estate and gift tax exemptions…
Remember when your baby was just an infant and you thought he/or she would break like dropped china or porcelain? And then you saw them run right into a glass door and bounce off like a rubber ball and bounce back for more. It was probably back then that you first gave some forethought into…
Trusts & Taxes: FAQs Taxation for trusts can be complicated, as there are special rules in place for filing and paying for trust-related taxes (as opposed to personal or business taxes). Understanding the obligations and requirements for the taxes related to trusts is important to properly managing and administering trusts and to avoiding future complications,…
