Elder Law and Estate Planning Attorney
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases. Gift Tax Read More …
The amount you can gift to any one person without filing a gift tax form is increasing to $16,000 in 2022, the first increase since 2018. The federal estate tax exclusion is also climbing to more than $12 million per individual. Read More …
When interest rates are low, intrafamily loans can be a good way to assist a relative (typically a child) with purchasing a house or a family business, and in certain circumstances they can be used to gift money to the Read More …
If you want to make a gift to family members but have exceeded the annual gifting limit, there is another way. Payments for a family member’s education or health care expenses are exempt from the gift tax. The annual gift Read More …
