Estate Trust and Gift Tax

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Estate planning is an essential part of financial planning for all individuals, regardless of age or asset level. It can help ensure you have enough money for retirement, minimize your estate taxes and maximize the wealth you pass to your beneficiaries.  This article will outline which documents are essential for
A life insurance trust is an estate planning tool for maximizing the value of an estate passed to one's heirs. Learn how a life insurance trust works and how it may help you protect wealth.
The Federal government has proposed legislation and the state of Minnesota has enacted legislation that may affect your tax situation.  In this article are highlights of four hot-topic tax items to keep an eye on.
The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize their
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets, and in many cases, your marital property will include all or part of it.
Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains.  commitment to their clients and their community. 
The federal gift and estate tax exemption was enacted in 1916, and right now, it is at the highest it has ever been.  This means that you can pass more to your heirs today, without paying any federal gift or estate tax, than ever in the past century.
Does your estate plan include a trust? If so, you should know about an estate planning tool called a Pour-Over Will which helps ensure that all assets are moved into a Trust after an individual's death.
We are pleased to announce that Adam P. Thielen, CPA, was elected Principal, effective September 1, 2020.
It is recommended that you review your estate plan at year’s end. The end of the year is a logical time to note important life events that have taken place over the past 12 months or may affect your plan.
Taxes on the transfer of wealth upon death can be substantial. The tax burden, which is typically based on the value of the estate assets on the date of death, can be additionally painful if the value of the transferred assets declines in value after the date of death.
Gifting can be an strategic part of your estate plan, but it's important to understand how the Gift Tax works. The Gift Tax is a federal tax on assets transferred to a recipient when full payment is not received in return. In this video you'll learn important tax advantages
If an employee passes away during the year, you must report the accrued wages, vacation pay, and other compensation paid after the date of death. And, accrued wages paid in the same year as the employee’s death are reportable on Form W-2 and Form 1099-MISC.
While death is a fact of life, it can be exceptionally hard for those left behind. A Will can help provide direction and ease the burden for your loved ones.
Keep more of your investment dollars in your pocket with the following tax minimization strategies. In this short video, we'll cover seven strategies to help you minimize taxes when investing in stocks, real estate and other types of assets.
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