BLS Insights

Category: Estates & Trust

Additional Extension and Due Date Updates

March 31, 2021

PPP Extension Act of 2021 On March 30, President Biden signed into law the PPP Extension Act of 2021. The Paycheck Protection Program, which was scheduled to expire on March … Continued

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Considerations Before Meeting with Your Estate Planner

September 01, 2020

The coronavirus pandemic has only punctuated a point that planners have been making for years. Everyone needs an estate plan. Admittingly, the process can seem overwhelming, so we’ve broken down … Continued

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The Need for Estate Planning

June 30, 2020

With the basic exclusion amount over $11.5 million and growing, along with the availability to port a married decedent’s unused exclusion, most individuals will not have a federal or state … Continued

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SECURE Act: Changes to IRA Contributions and Retirement Plan Distributions

June 18, 2020

The SECURE Act made several positive changes including expanding the availability of being able to contribute to an IRA beyond age 70 ½ and increasing the age to 72 for … Continued

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Why Americans Are (Wrongfully) Re-Thinking the Need for Estate Planning?

March 21, 2019

With the basic exclusion amount at $11.18 million and growing, along with portability of a decedent’s unused exclusion, most individuals will not have a federal estate tax liability.

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Tax Cuts & Jobs Act Doubles The Estate Tax Exclusion

March 22, 2018

They (Congress) wanted to repeal the “death tax.”  They (Congress) told us they were going to repeal the “death tax.” So what happened?

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Post-Mortem Planning When Filing a Decedent’s Final Income Tax Return

October 24, 2017

There are several tax elections and planning opportunities that I find are frequently overlooked by executors and tax return preparers when filing a decedent’s final income tax return

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Avoiding The 10% Early Distribution Penalty on IRA Withdrawals

October 12, 2017

Stashing away the maximum amount into your IRA each year is retirement planning rule 101.

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An Introduction to Generation-Skipping Transfer (GST) Tax

August 23, 2017

When most people think about what will happen to their assets after they’ve passed, they envision everything going first to their spouse and then to their children.

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What You Need to Know About Gift Tax: Exclusions

June 06, 2017

Gift giving is something that most people do each and every year.

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