Estate Planning

The IRC Section 1031 is a powerful tool for tax deferral and wealth-building in real estate investment. It allows taxpayers to defer their tax liability from the sale of an investment property and reinvest the profits in a replacement property. By exchanging more valuable properties, taxpayers can potentially increase their earning power and overall financial condition. In estate planning, the beneficiaries of real estate assets acquired through 1031 exchanges will receive a "stepped-up basis" equal to the fair market value of the property at the time of the original owner's death. This enables beneficiaries to sell the property without incurring a significant tax burden, resulting in a substantial financial improvement.

In our most recent piece, we discussed some basic facts about the federal estate tax. Let's go over some other issues involved with Maryland’s estate tax.

This article should be sufficient to round up our series on Maryland’s state-level estate tax and inheritance tax...

In our most recent piece, we discussed some basic facts regarding the federal estate tax, Maryland’s estate tax, and Maryland’s inheritance tax. This post will discuss some of the other issues involved with Maryland’s estate tax.

Most people are aware that the government imposes a federal estate tax. However, fewer people know that individual estates often impose an additional tax on their own.

Divorce will bring up multiple estate planning issues which are commonly overlooked. You’ll need to resolve these issues the sooner, the better. Let's identify a few of the estate planning issues in post-divorce situations.