Is a Trust Right For You?
This article gives a good overview of the uses of trusts, but note the estate tax exemption is doubled under the new tax law for years 2018-2025.
TRUST PLANNING: WHO DO YOU TRUST?
Non-Tax Considerations Depending on the size and nature of your estate, you may want to consider a more simplified Will while the estate tax exemption remains high, and you may be wondering whether you can dispense with the use of trusts in your plan. Aside from tax...Giveth the Taxman
On December 22, 2017, President Trump signed the highly anticipated “Tax Cuts and Jobs Act” of 2017. Significant gift/estate tax relief is provided by the new law. Notably however, proposals to repeal the estate tax did not prevail. This appears to signal that the...The Crude Oil Blues
The ever-talented George Strait may have crooned about Amarillo and All his Ex’s in Texas, but The Crude Oil Blues is a ballad instead made famous by rank-and-file Texans. Individuals owning oil and gas interests, as is so common in Texas, often fail to consider the...Back to Basics or Back to Basis?
Given the generous exemptions against the Federal estate tax, many of our clients are moving away from traditional “bypass” trust planning. We are seeing this arise not only as married couples update their planning, but we also see the issue arise after one of them...Apples and Oranges, I Like Both
Taxpayers should consider taking advantage of IRAs of both flavors: Traditional and Roth.