Tax Planning

What Is A Generation-Skipping Transfer Tax (GSTT) And Is There A Way To Avoid It?

The generation-skipping transfer tax (GSTT) is a federal tax that results when there is a transfer of property by gift or inheritance to a beneficiary (other than a spouse) who is at least 37½ years younger than the donor. The tax rate is a flat 40%.

Oct 18

What Is The Unlimited Marital Deduction And How Does It Work?

The marital deduction is a valuable estate planning device for certain married couples. It applies to both estate and gift taxes as well. It’s essential to know that the marital deduction only defers the estate and gift taxes.

Oct 11

What Is A Family Limited Partnership And How Does It Work?

A family limited partnership is a holding company owned by family members, created to hold business interests, real estate, or other assets. Purpose of creating a family limited partnership is to achieve creditor protection and reduce taxes.

Sep 27

Estate Planning When Married To A Noncitizen

It doesn't matter whether or not you or your spouse are citizens, it is essential that you place your assets in a Living Trust in order to protect those assets in the United States. You can leave property to someone who is not a U.S. citizen.

Aug 02