The $11.4 million exemption for 2019 will remain in place and may increase slightly from year to year since it may be adjusted for inflation. The TCJA is slated to expire in 2025, so it may be that the exemption goes back. Continue reading
Dynasty Trusts: is this a trust for you, your children and your great-great-great grandchildren?
For whatever reason I have had a bunch of clients ask me about dynasty trusts this week. So, I thought that might be “a sign” that I should write an article about it. I suppose a good place to start is by defining what a dynasty trust is and what it does.
I am not a tax attorney. Since the tax reform affects everyone who pays taxes, I thought I should share it. The Republican Tax Cut & Jobs Act (tax reform) the 2018 tax brackets, tax rates and standard deduction amounts have been revised. Continue reading