Homestead law is one of the more complex areas in Florida estate planning. This blog post will provide a general homestead overview, but it will not cover the full spectrum of the rules or the many exceptions. For those of you planning to file for your homestead exemption, please be…
Author: Christopher Weeg
Chris Weeg recently spoke as part of a panel of trust and estate professionals during a CPE webinar, “Family Partnerships: Navigating the Discounting Rules for Family-Controlled Entities.” The session explored key strategies for using family limited partnerships (FLPs) and other closely held entities in estate planning, with a focus on…
The IRS released inflation-adjusted tax figures for 2025. Below are some notable highlights affecting various provisions in the Internal Revenue Code applicable for the 2025 tax year The lifetime gift, generation-skipping transfer, and estate tax exclusion amounts have been increased from $13,610,000 to $13,990,000. The gift tax annual exclusion…
A silver lining to our current high inflation environment is the IRS’s just-released inflation-adjusted numbers for 2024. Below are some notable highlights affecting various provisions in the Internal Revenue Code applicable for the 2024 tax year: The lifetime gift and estate tax exclusion amounts have been increased from $12,920,000 to…
Transfer tax planning focuses on gift, estate, and generation-skipping transfer (“GST”) taxes, which are collectively referred to as “transfer taxes.” The base transfer tax exemption amount is $10,000,000 ($12,920,000 million for 2023, as indexed for inflation). Under current law, the base transfer tax exemption amount is set to reduce to…
