Stephen J. Dunn, specialist in tax and trust and estate law at Demorest Law Firm, PLLC, presents a recent article entitled “Beyond GRATS and IDGTS.” In the article, Dunn explains how certain schemes used since the early 1990s to circumvent the Federal estate tax have largely failed in achieving their objective of reducing the value [...]
Many financially distressed companies accumulate large liabilities for employment taxes withheld from their employees’ wages. These taxes can be assessed personally against the company’s principals.
Your estate plan should: Make sure that your property goes to the persons you want to receive it. Avoid taxes on succession to your property. Avoid probate on succession to your property. Protect your property from claims of creditors. Appoint an attorney-in-fact to make transactions in your property, and a patient advocate to make medical [...]
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