Gift tax returns could be the most misunderstood, neglected, and overlooked part of estate planning. There are many people who know estate planning quite well but draw blanks when issues about ...

If you die with a certain dollar amount of assets – currently, estates under $11.4 million are exempt, but this reverts back to $5 million in 2026 – a federal estate tax return is required and ...

Who is responsible for filing a deceased person's tax return? A deceased person's final tax return must still be filed for ...

Consequently, the trust maker must file a Form 709 gift tax return to report the completed gift to the IRS. Example. A trust maker has property worth $13.61 million. They make a completed gift of ...

Two factors make this year an opportune time to consider succession and wealth planning. First, the federal estate and gift tax exemption is at a historic high of $11,580,000 in 2020—$23,160,000 ...

As we enter 2025, it’s important to stay informed about the current federal estate and gift ... without incurring gift tax or needing to file a gift tax return. This exclusion is a valuable ...