2023 Estate & Gift Tax Changes
The index used for increases in estate and gift tax exemptions is the chained Consumer Price Index for all Urban Consumers. Due to the...
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Barry Boscoe
- Nov 2, 2021
A $5,000,000 Present from the Government
The government has put on our plates a once in a million, lifetime gift of a $5,000,000 tax break. Never before has this type of gift...
Barry Boscoe
- Nov 2, 2021
Corporate Trustees
One of the most important decisions in drafting a trust is who will act as trustee. The obvious choices are friends and family, but this...
Barry Boscoe
- Nov 2, 2021
Credit Shelter Trust
With the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Relief Act) , many planners...
Barry Boscoe
- Nov 2, 2021
Estate Planning Defined
There are four elements to estate tax planning available to you and only four: Gifts, Discounts, Charity, and Life Insurance. The...
Barry Boscoe
- Nov 2, 2021
Estate Tax Payment Period Extension
In a recently issued IRS Internal Legal Memorandum (ILM), the IRS indicated interest paid on estate taxes accrued during the extension ...
Barry Boscoe
- Nov 2, 2021
Exemption Trust – 2011 and Its Relevancy
An Exemption Trust, by any other name, is still an exemption trust; however it has also been called a bypass trust, B-trust, credit ...
Barry Boscoe
- Nov 2, 2021
FDIC Rules on Trust Accounts
You have just created a revocable inter-vivos trust (traditionally referred to as a “living trust”). Your attorney has advised you to ...
Barry Boscoe
- Nov 2, 2021
Final Rules on Gift Reporting
Prior to August 5, 1997 gifts made could be revalued by the IRS years after the transaction took place imposing taxes and penalties....
Barry Boscoe
- Nov 2, 2021
Funding the Estate Tax
It happens when people don’t plan for the future; it happens when they don’t prepare for the high cost of dying. Unless proper ...
Barry Boscoe
- Nov 2, 2021
Generation Skipping Tax
Knowing the basic rules of the Generation-Skipping Transfer (GST) tax will help reduce or even eliminate the impact of this tax. The...
Barry Boscoe
- Nov 2, 2021
Gifting Prior to 2013
By now you are aware that come 2013 we may see an entirely new estate and gift tax landscape. If Congress fails to make changes to the ...
Barry Boscoe
- Nov 2, 2021
History of Estate and Gift Tax
“No taxation without representation” was often heard during the Revolutionary times. We, as Americans, have had a long history of ...
Barry Boscoe
- Nov 2, 2021
How to Plan for your Digital Assets
In the past digital assets have not been considered in the estate planning process. However, with technological advances occurring ...
Barry Boscoe
- Nov 2, 2021
To Sell or Not Prior to 2013
With the new tax laws potentially changing in 2013, the question is whether you should sell appreciated capital assets in 2012 to take ...
Barry Boscoe
- Nov 2, 2021
Historic Low AFRs Provide Wealth Transfer Possibilities
With the low current interest rate environment and the published IRS applicable federal rates (AFR), we are witnessing phenomenally low ...
Barry Boscoe
- Nov 2, 2021
Dying Without a Will or Trust
The act of dying without a will is called intestacy. The distribution under the laws of intestacy will vary from the wishes of the...
Barry Boscoe
- Nov 1, 2021
Retirement Planning
LOS ANGELES BUSINESS JOURNAL Vol. 17 No. 19 Reprinted by permission of the Los Angeles Business Journal ™ Good Retirement Planning...
Barry Boscoe
- Nov 1, 2021
Business Succession Planning
As hard as it may seem to believe, only 10-20% of small business owners have any kind of succession plan in place. Even more startling,...
Barry Boscoe
- Nov 1, 2021
Why Legacy Planning Post Tax Reform?
The recent enactment of the Reconciliation Act of 2017 (The Act) has led many individuals to believe with the higher federal gift, estate...
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