Posts Tagged ‘Gift tax’

2014 Minnesota Estate and Gift Tax Changes

Governor Dayton signed into law changes for Minnesota’s Gift and Estate Tax laws on Friday March 21st, 2014. Below is a link to the bill enacted (HF1777)( Pages 40 to 47 contain the estate and gift tax sections), summary of changes and a table showing it’s tax impact on various sized estates: http://http://wdoc.house.leg.state.mn.us/leg/LS88/HF1777.4.pdf 1) Annual…

Read More

State Estate, Inheritance and Gift Taxation Part 1

     State-Estate-Inheritance-and-Gift-Taxation-By-Jeremy-Green  Part 1 State Estate, Inheritance and Gift taxation – Provides an overview of the various state exemptions, tax rates, how state estate taxes are calculated and taxation of gifts in contemplation of death.   Hope this helps… Jeremy P. Green CFP, CTFA, CLU, CEBS, MSFS, AEP, EA  Wealth Strategist & Expert Witness Consultant Wealth Strategist…

Read More

Reimbursement of Income Taxes to Grantors of Intentionally Defective Grantor Trust:

The benefit of the intentionally defective grantor trust is that it enables several estate freezing transactions like an installment sale to occur without causing income taxation on assets like closely held interests, which might otherwise negate planning like this because the resulting income tax would be detrimental Another potential advantage is that it treats the grantor as the…

Read More