April 03, 2018
NP Trusts & Estates Blog
NP Trusts & Estates Blog
Why you need an estate plan regardless of wealth, tax benefits for parents, deductions for charity-related travel expenses, special tax breaks for members of the military and more. Here’s what’s trending in estate planning and wealth management.
There are a variety of reasons to have a well-thought-out estate plan. Here are reasons our experienced estate planners find that estate plans are needed regardless of a client’s wealth.—Evelyn V. Moreno, Kenneth F. Hunt, Sarah M. Roscioli, John L. Garrett, Jay D. Rosenbaum, Sarah T. Connolly
The IRS has released the Estate, Gift and Generation-Skipping Transfer Tax lifetime exemption amount for 2018. Find out what you can transfer tax-free to family and friends.—Sarah M. Richards
With the passage of the new tax reform bill, ABLE accounts were given greater flexibility when it comes to planning for those with special needs.—Thomas A. Stedman
Didn’t contribute to your traditional IRA in 2017? You may still be able to make a 2017 contribution. But don’t delay as the deadline is April 17, 2018.—Mary-Benham B. Nygren
The love and compassion that parents share with their children are feelings like no other. Aside from the “feels,” parents may also be eligible for certain tax benefits.—Andrea M. Ells
Taxpayers often wonder if they may deduct their expenses when traveling to take part in charitable activities.—Mary M. Paul
Members of the military make many sacrifices. One thing they shouldn’t have to worry about is an undue tax burden while they serve our country.—Daniel N. Jones
In 2017, taxpayers with one or more qualifying children may be able save up to $1,000 per child on their federal income taxes under the child tax credit. Under tax reform, for 2018 and beyond the child tax credit is expanded.—Alyson Stevenson
Economic and market highlights from the NP Investment Team for March 2018.—NP Investment Team
The foregoing has been prepared for the general information of clients and friends of the firm. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. If you have any questions or require any further information regarding these or other related matters, please contact your regular Nixon Peabody LLP representative. This material may be considered advertising under certain rules of professional conduct.