It’s not unusual for older estate plans to include a “formula funding clause,” which splits assets between a credit shelter trust and the surviving spouse (either outright or in a marital trust). A formula clause works well when an estate is substantially larger than the exemption amount. However, now that the estate tax exemption is
gift tax exemption Archives - Crawford Ellenbogen
May 9, 2019
Mar 14, 2019
The 2018 gift tax return deadline is almost here
- By Ellenbogen
- Taxes
- 0 Comments
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if it isn’t required. Filing requirements Generally, you must file a gift tax return for 2018
Feb 21, 2019
What you need to know about filing gift and estate tax returns
- By Ellenbogen
- Estate, Taxes
- 0 Comments
Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a loved one who died recently? If so, you need to know whether you must file a gift or estate tax return. Filing a gift tax return Generally, a federal gift tax return (Form 709) is