Married with a large estate?

Why you still need a credit shelter trust Even though portability now allows married couples to use up both spouses’ estate tax exemptions without having to make lifetime asset transfers or set up trusts, this “easier” path isn’t necessarily the better path. For couples with large estates, making lifetime asset transfers and setting up trusts[ … ]

Can I Use a Qualified Residence Trust for a Vacation Home?

Yes. Many people with second homes want them to stay in the family but also want to limit estate and gift taxes upon their transfer. One way to achieve this might be to create a qualified personal residence trust (QPRT). How Is the Property Valued? The gift’s value is determined by calculating the home’s present[ … ]

Estate Tax Portability doesn’t Preclude Marital Transfers and Trusts

Exemption portability, made permanent by the American Taxpayer Relief Act of 2012, provides significant estate planning flexibility to married couples if sufficient planning hasn’t been done before the first spouse’s death. How does it work? If one spouse dies and part (or all) of his or her estate tax exemption is unused at death, the[ … ]