Gift Tax Basics: Do I Owe Taxes When Someone Gifts Me Money?

It’s fairly unanimous that receiving a gift, especially in the form of cash, is a great feeling. You don’t have to pay anybody back, and you can do whatever your heart desires with the funds. Unfortunately, while most people agree on the joy of receiving Read More …

Accounting for Art in the Estate Planning Process

Though we often associate estate planning, the process of preparing for the transfer of wealth, with tangible assets like real estate or cold, hard cash, or even intangible assets like banking or investment accounts, the fact of the matter is that for those of us Read More …

Estate Planning Is Still Necessary Despite Recent Tax Cuts

Tax Cuts Don’t Cut the Need for Proper Estate Planning It is no secret that times are due to change. Just short of six months ago, President Donald Trump was vehemently calling for the elimination of the Deferred Action for Childhood Arrivals (DACA) executive order, Read More …

Exploring the Spousal Lifetime Access Trust (SLAT)

Until Death Do Us Part: Exploring the Spousal Lifetime Access Trust (SLAT) What is a Spousal Lifetime Access Trust (SLAT)? The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that benefits the donor’s spouse and children. Through a SLAT, a donor may reduce a Read More …