Trusts Estates and Succession Planning
2019 Inflation Adjustment Amounts

2019 Inflation Adjustment Amounts

By: Mark G. Kmiecik On November 15, 2018, the IRS released the 2019 inflation adjustments for several tax provisions in Rev. Proc. 2019-57. The adjustments apply to tax years beginning in 2019 and transactions or events occurring during the 2019 calendar year. With respect to estates and trusts, below are select key provisions and amounts for the...

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Use of Transfer on Death (TOD) Deeds Broadened Under New Statute

Use of Transfer on Death (TOD) Deeds Broadened Under New Statute

By Jacqueline L. Messler The Governor recently signed 2018 Wisconsin Act 332, which affects a method to transfer real property without going through a probate proceeding known as a transfer on death (“TOD”) deed. The new law gives clients more options to transfer real property without having to go through a probate proceeding. A TOD deed does not...

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Tax Reform: Key Planning Perspectives for Individuals and Businesses

Tax Reform: Key Planning Perspectives for Individuals and Businesses

By Ann M. Rieger & Mark J. Andres Tax season is upon us. Individuals and businesses are collecting year-end tax statements and have begun the task of completing 2017 income tax returns. These returns will be filed under the “old” rules which predate the adoption of the Tax Cuts and Jobs Act that was passed by Congress and signed by President...

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Using Trusts to Protect a Beneficiary’s Inheritance From Creditors in the Era of Tax Reform

Fixing Irrevocable Trusts

By Jacqueline L. Messler When estate planners meet with clients to review their estate plan, it is very common to run across clients who created irrevocable trusts in the 1980s, 90s, or early 2000s. The goal in creating these irrevocable trusts was often to reduce the size of the client’s estate to avoid estate tax. Now that fewer people are...

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IRS Announces 2018 Estate and Gift Tax Limits

IRS Announces 2018 Estate and Gift Tax Limits

By Ann M. Rieger & Jacqueline L. Messler While recent news reports focus on the potential for tax change as result of the introduction of the “Tax Cuts and Jobs Act” in the House on November 2, 2017, the IRS continues its job of administering existing law. Under the current rules, several key gift and estate tax exclusions are adjusted for...

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Tax Reform Update

Tax Reform Update

By Ann M. Rieger Since the start of the new administration, there has been much speculation regarding potential tax law changes. Below is a comparison of revisions proposed by President Trump on the campaign trail, the House of Representatives in the House blueprint known as the “Better Way for Tax Reform,” and the Tax Cut and Jobs Act proposal...

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Estate Planning for Your Digital Property

Estate Planning for Your Digital Property

By Jacqueline L. Messler Does your YouTube station with tutorials teaching the perfect contouring makeup technique have a million subscribers and significant advertising revenue? Probably not. Do you store music, documents, or photos on the Cloud? Possibly. Do you conduct online banking? Probably. Do you have a Facebook, Instagram, Google, Yahoo,...

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Tax Reform Update

Tax Reform In the Making: A Comparison of the Potential Revisions

By Ann M. Rieger With the coming of a new administration in Washington, D.C., there has been much speculation regarding potential tax law changes. Below is a comparison of various revisions being discussed by both President Trump and the House of Representatives in the House blueprint known as the “Better Way for Tax Reform.” Final legislation...

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