December 18, 2019

The most significant change for many of our clients will be the removal of RMDs for IRA beneficiaries.

February 13, 2017

On January 1, 2017, both the Minnesota and federal estate tax exemptions were updated for decedents dying in 2017. The federal estate and gift tax exemption is $5.49 million per individual (up from $5.45 million in 2016). The Minnesota estate tax exemption is $1.8 million per individual. Minnesota has no gift tax (though gifts made within three years of death can be included in the gross estate). While the federal estate tax i...

September 30, 2016

"Death Taxes" Defined.

The term "death taxes" refers to taxes that are imposed by the federal and some state governments (Minnesota included) on someone's estate upon their death. For federal and Minnesota purposes, the term refers only to estate taxes. Some states also have an inheritance tax which is different from the estate tax. Whereas the estate tax is levied based on the size of a person's estate, an inheritance tax is i...

Please reload

Search By Topics
Please reload

Featured Posts

Co-owning Land: What is a Partition Action?

Please reload

Recent Posts