Tag Archives: estate planning
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Using Intrafamily Loans to Transfer Wealth and Reduce Estate Taxes
With current interest rates at near-historic lows, intrafamily loans remain an effective way to shift wealth to the next generation while avoiding estate and income tax consequences. Such loans can be part of a complex estate planning strategy, including the transfer of a closely-held family business. However, they can also be used as a simple mechanism to assist children with ... Read More
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Estate Tax Considerations for 2022: How Clients Can Plan in an Uncertain Time
The Internal Revenue Service ("IRS") has released annual inflation adjustments for 2022. These include increased gift, estate, and generation-skipping transfer (“GST”) tax exemptions (the “unified credit”), annual gift tax exclusions, and retirement account limits. The changes are as follows: The unified credit will increase to $12.06 million for an individual (from $11.7 million in 2021). This means that a married ... Read More
TAGGED: news, Tax Law, legislation, estate planning, trust and estates, taxes & IRS
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Client Alert: Estate and Business Succession Planning During the Coronavirus Quarantine
As efforts to contain the coronavirus continue throughout the United States and across the globe, Jackson & Campbell remains committed to the safety and well-being of our clients, employees, and the communities in which we live and work. Although our physical office is closed to the public, we continue to service new and existing clients - not just by offering ... Read More