Charitable Gifting… Don’t Forget the Receipt!

Many of us love to benefit charities and make gifts of used clothing, furniture and miscellaneous items. In a recent Tax Court Memorandum case, Kunkel, the Internal Revenue Service (the “Service”) reminds us what needs to be done to be able to deduct the value of those items on your…

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Separate or Joint Trust.. That is the Question!

In the past, when the estate tax applicable exclusion amount (“AEA”) was $3.5 million or less, attorneys generally drafted 2 separate trusts for our married clients so that each client could take advantage of EACH of their AEA. Now that a spouse has the ability to “carry” over the unused…

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