Estate tax planning got much more straight forward over the last decade since the federal estate tax exemptions increased so significantly that most families won’t ever have an estate tax planning need. The focus shifted more towards streamlining succession or creating asset protecting plans for the support of beneficiaries who may need it. But there’s a segment of the population who…

Transferring title to real estate can have a lot of benefits during the lifetime of the owner, but it also comes with some potential hazards you should know about before signing the deed over. Lifetime Transfers as a Planning Strategy Moving your real estate into someone else’s name during your lifetime can certainly make things more streamlined and easier at…

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law on December 22, 2017. With it came sweeping changes to many different sections of the tax code. One of significance, of course – since this is an estate planning blog, was the Federal Estate Tax Exemption amounts. For 2017, the exemption amounts were $5.49M for and…

How Will Estate Planning and Business Be Impacted by Tax Reform? While there hasn’t been a bill that has passed both chambers of Congress just yet, let’s break down how the House and Senate bills, which have passed in their respective chambers, may impact your estate and your business. Estate Taxes Regardless of which version of tax reform passes and…

Another year, another increase in the lifetime estate tax exemption for estates in North Carolina (and nationwide). Since the exemption amount is tied to inflation and set to increase each year (or maybe be repealed altogether), around this time each year estate planners and high net worth families await the expected exemption limits for the following year, as set by…