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Trust and Estate Planning

2014 Minnesota Estate and Gift Tax Changes

Governor Dayton signed into law changes for Minnesota’s Gift and Estate Tax laws on Friday March 21st, 2014. Below is a link to the bill enacted (HF1777)( Pages 40 to 47 contain the estate and gift tax sections), summary of changes and a table showing it’s tax impact on various sized estates: http:// 1) Annual…

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2013 Minnesota Estate and Gift Tax Changes

Govenor Dayton signed bill MN HF0677.4 (click the higligted link to view the bill itself) into law May 23rd, 2013. There are numerous tax changes to state treatment of property tax, income tax and estate and gift Taxation. My  notes and highlights are below: State Income Tax Update 1) Changes- the bill increase the income tax rate from 7.85%…

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  Exemption-and-Marital-Deduction-White-Paper-2-of-3-Jeremy-Green Part 2 State Exemption/ Marital Deduction Planning – Describes the four general designs used to capture state and/or federal exemption amounts, the use of disclaimers and state QTIP elections and the impact of exemption portability on planning going forward. Hope this helps… Jeremy P. Green CFP, CTFA, CLU, CEBS, MSFS, AEP, EA  Wealth Strategist &…

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State Estate, Inheritance and Gift Taxation Part 1

     State-Estate-Inheritance-and-Gift-Taxation-By-Jeremy-Green  Part 1 State Estate, Inheritance and Gift taxation – Provides an overview of the various state exemptions, tax rates, how state estate taxes are calculated and taxation of gifts in contemplation of death.   Hope this helps… Jeremy P. Green CFP, CTFA, CLU, CEBS, MSFS, AEP, EA  Wealth Strategist & Expert Witness Consultant Wealth Strategist…

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Reimbursement of Income Taxes to Grantors of Intentionally Defective Grantor Trust:

The benefit of the intentionally defective grantor trust is that it enables several estate freezing transactions like an installment sale to occur without causing income taxation on assets like closely held interests, which might otherwise negate planning like this because the resulting income tax would be detrimental Another potential advantage is that it treats the grantor as the…

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