Tag Archives | generation skipping transfer tax

estate planning checkup

Time for an Estate Plan Checkup

An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan. 2019 vs. 2018 amounts Here are a few key figures for 2018 and 2019: Lifetime gift and estate tax exemption […]

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smiling married couple | spousal lifetime access trust | Dalby Wendland & Co. | CPAs | Estate Trust and Gift Tax Planning | Grand Junction CO | Glenwood Springs CO | Montrose CO

Consider a Spousal Lifetime Access Trust for Estate Planning

The most effective estate planning strategies often involve the use of irrevocable trusts. But what if you’re uncomfortable placing your assets beyond your control? What happens if your financial fortunes take a turn for the worse after you’ve irrevocably transferred a sizable portion of your wealth? If your marriage is strong, a spousal lifetime access […]

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grandparents with grandchild

Beware the GST Tax When Transferring Assets to Grandchildren

As you plan your estate, don’t overlook the generation-skipping transfer (GST) tax. Despite a generous $5.49 million GST tax exemption, complexities surrounding its allocation can create several tax traps for the unwary. GST basics The GST tax is a flat, 40% tax on transfers to “skip persons,” including grandchildren, other family members more than a […]

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