Decoupled States

This month’s subscriber drafting webinar will focus on estate tax planning in states that have a separate state estate tax system with a state exemption that is lower than the federal exemption.  In that situation, there is an added layer…

Between a simpler estate plan that benefits the spouse and a more complicated bypass trust plan designed to reduce estate taxes. For many clients, the high federal estate tax exemption means their estate will not be subject to tax, but if…

Estate tax planning is currently on the back burner for most estate planners, because it’s not a concern for the vast majority of our clients. However, with the upcoming election and a dramatic new need for revenue, the estate tax exemption…

Today, many states have a smaller estate tax exemption than that allowed under Federal law, which is now $1.5 million and will rise in future years. This means the estate of a married person will pay an estate tax to the state if he or she…

As a result of the reduction beginning in 2002 and complete elimination, effective beginning in 2005, of the state death tax credit allowed under section 2011 of the Internal Revenue Code of 1986 as amended (“IRC” or “Code”), the cost of…

As a result of the reduction beginning in 2002 and complete elimination, effective beginning in 2005, of the state death tax credit allowed under section 2011 of the Internal Revenue Code of 1986 as amended (“IRC” or “Code”), the cost of…

The Economic Recovery Tax Act of 1981 ("ERTA" or "1981 Act") made many important changes to the wealth (i.e., estate, gift and generation-skipping) transfer tax provisions of the Internal Revenue Code.