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Post on Apr. 04, 2019
The New York estate tax exemption currently is $5,740,000. The exemption is adjusted for inflation and will increase over time. The New York exemption is effectively phased out for estates that exceed the exemption......
Post on Mar. 27, 2019
Portability is the term used to describe a relatively new provision in federal estate tax law that allows a widow or widower to use any unused federal estate tax exemption of his or her deceased spouse to shelter assets......
Post on Mar. 18, 2019
Have you ever been asked by a family member or friend to serve as Trustee of a trust for the benefit of their children or family members? While it is easy to be flattered and honored by this request, you should fully......
Post on Mar. 13, 2019
In 2019, the Connecticut exemption amount from estate and gift tax has been increased from its prior level of $2,600,000 per individual to $3,600,000. As we have reported, there has been some confusion as to what is to......
Post on Feb. 20, 2019
Governor Lamont’s proposed budget titled “A Path Forward” for Fiscal Year 2020 and 2021 was announced on February 20, 2019 (the “Proposed Budget”) and includes changes to Connecticut’s estate and gift tax......
Post on Jan. 10, 2019
We discussed whether tax law changes that came into effect in the new year called for clients to review their estate planning. Let me share some of our......
Post on Jan. 01, 2019
Bitcoin (which is capitalized when referring to the overall network or concept but is left uncapitalized when referring to a unit of currency) and other cryptocurrencies were once thought of as a vehicles for illicit......
Post on Nov. 20, 2018
On November 20, 2018, the Internal Revenue Service issued proposed regulations to address one of the lingering concerns of using the increased gift tax exemption on gifts prior to 2026 - the so-called......
Post on Nov. 15, 2018
On November 15, 2018, the Financial Crimes Enforcement Network of the U.S. Treasury Department (“FinCEN”) announced that it had revised its existing “Geographic Targeting Orders” (“GTOs”) to expand the......
Post on Oct. 19, 2018
On October 19, 2018, the U.S. Treasury Department released proposed regulations relating to the Opportunity Zones program, which is an investment tool established by the 2017 Tax Cuts and Jobs Act allowing investors in......
