Archive | Estate & Gift Tax

What If There Is No Estate Tax? Do I Still Need My Trust?

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There has been talk that President-Elect Donald Trump plans to repeal the federal estate tax.  This leaves many asking whether they should continue on with their estate tax planning, wait to see what happens, or do nothing at all.

Should you spend time and energy on a Trust if there will be no estate tax?  If you already have a Trust, do you still need it?

Trusts are and will continue to be necessary tools in your estate planning with or without an Estate Tax.  Below are 10 things to keep in mind regarding Trusts in this era of uncertainty: Continue Reading →

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The IRS Wants You To Have Angry Beneficiaries


Imagine you’re the personal representative (executor) of your uncle’s estate. In his will, he’s left $10,000 to a dear friend in Italy. Your attorney calls and says, “We need to get in touch with Sophia in Rome to let her know she needs to ‘register’ with the IRS.”

Your first reaction might be “Sophia is a bit of a hothead – she’s not going to like this one bit.” Your second reaction might be, “This sounds like something that could hold things up.” You could easily be right on both counts. Continue Reading →

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Gift Tax Law Changes for 2016

It goes without saying that the laws governing the U.S. estate and gift tax system are complex and the taxes and gift tax changespenalties for mistakes are high.  For a foreign citizen the U.S. estate and gift tax system requires a much higher degree of awareness.  Several changes to the gift tax laws have been made for 2016 that taxpayers giving cash gifts will need to take into account.  The laws regarding to the exchange of cash gifts between U.S. citizens and foreign citizens and companies are becoming increasingly strict.   Continue Reading →

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Gift Taxes and Estate Taxes and Generation-Skipping Taxes: Oh My! 2016 Gift Tax, Estate Tax & GST Tax Updates

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 It is February and we are now squarely in the New Year. Each New Year brings changes and updates to the estate and gift tax codes. At Oakstone Law PL, we believe it is vital to keep your estate planning documents up to date and in-tune with these changes. This article provides a handy summary of some of the taxes affecting estate planning and some of the recently updated numbers. Continue Reading →

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Oakstone Law
1415 Panther Lane, Suite 439
Naples, Florida 34109
Tel: 239.206.3454