(authored by RSM US LLP) This article discusses estate planning and tax considerations after the sale of a business interest or other liquidity event, including common strategies to reduce estate...
Trusts are an essential tool for estate planning, but their tax implications can be confusing. Understand the differences between revocable and irrevocable trusts, grantor and non-grantor trusts, and simple and...
The IRS issued Revenue Ruling 2023-02, which clarifies the treatment of assets in irrevocable grantor trusts for tax purposes. This ruling aims to curb potential abuse of the stepped-up basis...
Adding your kids to your bank account or home deed can create a host of legal, financial, and tax issues that can leave you and your loved ones vulnerable to...