The grantor retained annuity trust or GRAT is an effective planning strategy for transferring assets to the next generation at a discounted gift tax cost. Read More
Relying on language contained in the partnership agreement, TAM 9751003 recently concluded that gifts of limited partnership interests were not transfers of present interest and, therefore, did not qualify for $10,000 gift tax annual exclusion. Read More
The explosion in the stock market left many individuals with large account balances in qualified retirement plans and individual retirements accounts (IRAs). Read More
The family recent limited partnership (FLP) is used by senior family members to facilitate business succession and estate planning. Read More
On Sunday December 22, 1996, The New York Times ran a page one articled ” For Wealthy Americans, Death is More Certain than Taxes. Read More