An unprecedented rush to relinquish wealth is underway, and it isn’t just for billionaires. Read more
Tax-free gifts
In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year. Read more
If you’re part of the baby boomer generation, you may be in the process of making plans to pass on any assets you have to your children and other beneficiaries. Read more
Knowing the tax rules can help you pass on more of your money to your loved ones while minimizing taxes. Read more
Federal estate taxes were created in 1916, taxing estates valued at over $5 million. This amount changed to $50 million in 1932. In 1940, it dropped to $10 million, then $5, then $3. In 2002-2007 estates worth more than $2 million paid the tax. Read more
