This basic strategy can result in a happy holiday season for the entire family. As the holidays rapidly approach, you may plan to stuff the stockings of family members with gifts that reduce the size of your taxable estate. Notably,…
Death. Taxes. Using Thanos' favorite word, they are "inevitable." For months, estate planners and well-to-do families prepared for a worst-case scenario: a legislative sunset that threatened to cut the federal tax exemption in half to about $7 million. Fearing a tax…
A daughter distributed her late mother's entire estate to the heirs, then the IRS finished its audit and sent the bill straight to her. A law older than the Bill of Rights made her personally liable, and there was a…
Australia doesn’t have an inheritance tax – at least, not officially. But heading into 2026, the debate is heating up again, and financial advisers would be wise to pay attention. While many Australians assume their estate planning is simple in a country…
Editor: Jessica L. Jeane, J.D. This item focuses on the small number of estates that are still taxable following H.R. 1. Obviously, for federally nontaxable estates, preserving the step–up is nearly always the goal. However, state transfer taxes must still be considered, as…
Inheritance Tax and Second Citizenship: The Four Clocks A useful way to assess exposure is to think in terms of four “clocks,” each of which may keep running after a move. The asset clock. Nearly every country with an inheritance…
[As of April 1, 2026, laws and regulations] If a person who acquires property through inheritance, bequest, or gifts subject to the inheritance tax settlement system is not a first-degree blood relative of the decedent (including grandchildren (lineal descendants) who have become…
ByMatthew F. Erskine, JD, A good way to deal with both taxes is a lifetime gift of cash to an irrevocable trust. Below I explain how it works, who it helps most, and the mistakes that can undo it. Why Gifting…
It may not have been much, but earlier this month, a number of changes were made to Ireland’s inheritance tax regime, which may ease the burden – somewhat – on families when they look to pass on the family home and other…
By Beth Brearley, 22 Oct 26 Clients are concerned about the forthcoming inheritance tax changes affecting pensions Concerns about the forthcoming inheritance tax changes to pensions are driving clients to change their financial plans, research from STEP shows. A recent pulse survey…
Estate Tax and Gift Tax in Estate Planning: the news, the names and what changed.
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