Gift tax in the United States

New Study Finds Estate Planning Solutions from Biden Tax Plan, Wealth Advisors Trust Report Finds

Sunday, October 18, 2020 - 4:05pm

RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.

Key Points: 
  • RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.
  • The report concluded:
    a) Current estate and gift tax exemption amount, inflation adjusted, highest level in 100 years.
  • c) November election results could reduce estate and gift tax exemption amounts by 50% or more.
  • For questions about the report, a comment on the findings, or an introduction to the industry experts included in this report, contact, Christopher Holtby at holtby@wealthadvisorstrust.com
    Wealth Advisors Trust Company, based in South Dakota, revolutionizes trust administration with common sense.

529s Can Be Estate Planning Vehicle

Thursday, August 20, 2020 - 8:34pm

Another important benefit is the potential use of 529 accounts for gifting and estate planning.

Key Points: 
  • Another important benefit is the potential use of 529 accounts for gifting and estate planning.
  • A donor can gift up to $15,000 annually per 529 beneficiary free of federal estate and gift tax impact if no other gifts to the recipient are given that year.
  • If the donor dies before the five years are up, a prorated portion of the contribution will be considered part of the donors taxable estate.
  • Its a great vehicle for lightening the estate tax load on your loved ones, while supporting future generations by providing funding for their college education.

The American College of Trust and Estate Counsel Names Stephen R. Akers as New President

Wednesday, March 18, 2020 - 1:15pm

WASHINGTON, March 18, 2020 /PRNewswire-PRWeb/ -- The American College of Trust and Estate Counsel (ACTEC) today announced that Stephen R. Akers will serve as the College's new President.

Key Points: 
  • WASHINGTON, March 18, 2020 /PRNewswire-PRWeb/ -- The American College of Trust and Estate Counsel (ACTEC) today announced that Stephen R. Akers will serve as the College's new President.
  • Akers, Managing Director and Senior Fiduciary Counsel at Bessemer Trust in Dallas, Texas succeeds ACTEC Fellow John A. Terrill, II from West Conshohocken, Pennsylvania.
  • ACTEC Fellows have extensive experience in a range of practice areas including estate and trust planning; estate tax, gift tax and generation-skipping tax planning; fiduciary income tax planning; charitable planning; planning for owners of closely-held and family businesses; fiduciary litigation; and estate and trust administration.
  • Additionally, Akers was an active member of the College's Audit Committee, Communications Committee, Estate and Gift Tax Committee, Financial Management Committee, Long-Range Planning Committee and Sponsorship Advisory Committee.

ProfNet Experts Available on Climate Disruption, Government Shutdown, More

Wednesday, February 6, 2019 - 6:01pm

Gift tax returns could, for instance, show whether Trump has given away any assets and whether he has placed any into trusts.

Key Points: 
  • Gift tax returns could, for instance, show whether Trump has given away any assets and whether he has placed any into trusts.
  • Your run-of-the-mill person never files one in their entire life; your millionaire or billionaire files one every year.
  • They're going to have to dig down into returns filed by LLCs, partnership returns.
  • While with the government, Kaufman was the primary Treasury representative involved in the legislative and regulatory developments affecting the taxation of trusts and estates.