Be Confident About Your Financial Future.
Estate And Gift Tax Limits For 2020 Have Increased Beginning in 2020, the lifetime estate and gift tax exclusion (which is indexed for inflation) will rise to $11.58 million, up from $11.4 million in 2019. This is the limit on tax-free wealth transfers during one’s lifetime or at death. As … Read more »
The Importance of Reviewing the Appointments in Your Will and Powers of Attorney A key component when meeting with our clients is to regularly review provisions in their estate planning documents such as wills and powers of attorney. One purpose of this review is to revisit who is designated/appointed to … Read more »
If you are over 65 and live in Harris County, there is a simple way to pay your property taxes in installments. Homeowner’s property taxes are a large annual payment for many people. You might find these payments a little more palatable if, instead of paying the entire amount at … Read more »
Beginning in 2019, the lifetime estate and gift tax exclusion (which is indexed for inflation) is projected to rise to $11.4 million, up from $11.18 million in 2018. This is the limit on tax-free wealth transfers during one’s lifetime or at death. As a result, couples who have not yet … Read more »
As a result of the recent tax bill, beginning in 2018, the lifetime estate and gift tax exclusion (which is indexed for inflation) is projected to rise to $11,200,000 (!) from $5.49 Million during 2017. This is the limit on tax-free transfers during life or at death. This means that … Read more »
One of our tax associates at Maddox, Thomson & Associates recently completed a tour de force illustration for some of the basics of estate planning. Rachael Knapp (a CPA and CFP as well as a budding screenwriter) has created a set of examples of important estate planning techniques using the family members from … Read more »
One of the components of our regular meetings with our clients is a review of the provisions in their estate planning documents, including wills and powers of appointment. One purpose of this review is to revisit the appointments which are made in these documents. For wills, these appointments designate the people who … Read more »
One of our clients recently asked that we review their “Green Binder”. It was a simple 3-ring binder with copies of most of their important planning documents and instructions for how to find everything else and what to do after his death. It included a summary of their financial accounts, … Read more »
The estate tax has been around for a long time – it was originally enacted in 1916 to help pay for World War I. Since then, it has often imposed an end-of-life tax liability for those families who have accumulated significant wealth, Businesses have been built by lawyers and accountants to … Read more »
Beginning in 2017, the lifetime estate and gift tax exclusion (which is indexed for inflation) will rise to $5,490,000 from $5.45 Million during 2016. This is the limit on tax-free transfers during life or at death. This means that couples who have not yet made any lifetime gifts will be … Read more »
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