Federal Tax

Don’t Forget the Annual Gift-Tax Exclusion

by Jamie Held January 21, 2013 Taxes

Amid all the other fiscal cliff headlines and the American Taxpayer Relief Act provisions, you may have missed the annual gift-tax exclusion changes that automatically became effective January 1, 2013. The annual gift-tax exclusion increased [...]

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Permanent Estate Tax Relief

by Jamie Held January 3, 2013 Estate Planning 101

Congress passed The American Taxpayer Relief Act of 2012 on January 1, 2013.  Among its many provisions are the following pertaining to estate taxes:

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Minnesota Estate Tax Changes May Be on the Horizon

by Jamie Held December 26, 2012 Estate Planning 101

The Minnesota Department of Revenue (“DOR”) is preparing a report that analyzes Minnesota’s current estate tax laws. The report will provide the Legislature with options to consider for changes to or elimination of the estate [...]

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Economic Update

by J.B. L'Esperance May 9, 2012 Guest Articles

Our good fortune has continued with expanded growth in the markets.  This is typical of an election year and if history is any indication, there should be more of this to come.  The Dow Jones [...]

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Attorney Under the Weather? Tough Luck, says the IRS

by Steve Held April 11, 2012 Guest Articles

Although most of us would consider our estate planning attorney to be superhuman, the fact of the matter is that sometimes they are unable to perform their duties.  In a recent case, the district court [...]

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What is Portability?

by Jamie Held October 31, 2011 Estate Planning 101

2010 Tax Relief Act The 2010 Tax Relief Act (a.k.a. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) provided us with a $5 million federal estate tax exemption and a federal [...]

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529 Plans

by Jayne Sykora September 21, 2011 Estate Planning 101

529 plans are tax-advantaged programs that help families save for qualified higher education expenses associated with college. How are 529 Plans helpful for estate planning? Well, contributions to a 529 Plan can help you reduce [...]

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Estate and Gift Tax Laws 2011

by Maggie Green February 25, 2011 Estate Planning 101

On December 17, 2010 Congress passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853).  This legislation dramatically changed the laws that would have come into effect on January 1, [...]

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Generation-Skipping Transfer Tax Basics

by Jen Santini November 30, 2010 Estate Planning 101

Generation-skipping transfer (“GST”) tax is the tax imposed on bequests that are made to an individual who is at least two generations younger than the donor (for example, a gift from a grandparent to a [...]

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Get Your Affairs in Order

by Jamie Held November 9, 2010 Estate Planning 101

A recent article published by Forbes, entitled “How to Protect Your Spouse Financially After You Are Gone,” provides a great roadmap for organizing your affairs in order to assist grieving loved ones after your death.  [...]

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Incorporating Flexibility in Uncertain Times

by Jamie Held October 14, 2010 Estate Planning 101

As you may or may not know, 2010 has been a tumultuous year in the area of estate planning. Currently, there is no federal estate tax.  And, worse yet, no one knows exactly what the [...]

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