Estate & Financial Planning Articles
U.S Treasury Issues Rev. Proc. 2024-40 Detailing Changes to Estate, Gift & Generation Skipping Transfer Tax Rates
Oct. 24, 2024
On October 22, 2024, the U.S. Treasury Department issued Rev. Proc. 2024-40, which outlines inflation-adjusted tax exemptions for estate, gift, and generation-skipping transfers for 2025.
Continue ReadingYear-End Gifting for Estate Planning: Maximizing Tax Savings Before the 2017 Tax Act Sunset
Oct. 17, 2024
Estate planning is a critical component of wealth management, especially for high-net-worth individuals seeking to transfer assets to future generations with minimal tax implications.
Continue ReadingDecanting Trusts Under North Carolina’s Uniform Trust Decanting Act
Oct. 17, 2024
The North Carolina Uniform Trust Decanting Act (UTDA) allows trustees to “decant” or transfer assets from an irrevocable trust to a new trust.
Continue Reading