Handle an Inherited IRA With Care

An inherited IRA can be a welcome financial windfall. But the rules governing required minimum distributions (RMDs) from these tax-deferred accounts are complex. IRA recipients should familiarize themselves with these rules to avoid potentially costly tax mistakes.

End of the “stretch” IRA

Until relatively recently, IRA...

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Now’s the Time to Review your Generation-Skipping Transfer Tax Exposure

Absent congressional action this year, the federal gift and estate exemption and the generation-skipping transfer (GST) tax exemption (currently $13.99 million) are scheduled to return to their pre-2018 levels of $5 million (around $7 million when adjusted for inflation) beginning in 2026. So, it’s a good idea to consider strategies for taking...

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Estate Planning Red Flag – You Don’t Understand the Rules when Splitting Gifts with your Spouse

Here’s a quick estate planning tip: one of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax exclusion. For 2025, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per beneficiary if you elect...

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Revisit Your Buy-sell Agreement in Light of the U.S. Supreme Court’s Connelly Decision

Buy-sell agreements are essential estate and succession planning tools for many family businesses and other closely held companies. These agreements, among other things, ensure that the business stays within the family or other ownership group.

Typically, this is accomplished by providing that if an owner dies or leaves the...

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