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Portability, Rev. Proc 2017-34 and Potential Estate Tax Legislation
Category: Tax , Trusts and Estates
Recently widowed individuals whose deceased spouse’s estate did not make a portability election by the due date for filing an estate tax return -- because the estate either was not aware a portability election was available or required, or determined that a portability election was not necessary…
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Yours, Mine and Ours: Estate Planning for a Blended Family
Category: Tax , Trusts and Estates
When William Shakespeare wrote “What’s mine is yours, and what is yours is mine,” he likely was not thinking about a blended family. Blending families offer a myriad of challenges, one of which is how the spouses’ assets will be distributed at death. If you are a spouse in a blended family, the…
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Certain Expenses Of A Trust Are Still Deductible
Category: Tax , Trusts and Estates
The Tax Cuts and Jobs Act (TCJA), while lowering taxes for most, raised them for a few. One group of those few taxpayers for whom taxes went up under TCJA were certain trusts and estates (generally those with large investment advisory fees or certain other expenses). The issue for these trusts is…
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With All My Electronic Goods I Do Thee Endow—Digital Asset Planning For The 2020s And Beyond
Category: Tax , Trusts and Estates
Hey Siri, how do I get everything on this iPhone to my loved ones if something happens to me (or make sure it’s deleted)? If you ask Siri this question, she will (as is all too common) not give you the right response, and point you to the Internet. Hopefully, with the addition of this blog post…
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