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Middle-Class on the Brink: Estate Tax Exemption Sunset May Expose Assets
Although the estate tax typically targets only ultra-wealthy estates, many middle-class families may unintentionally cross the new, lower thresholds—thanks to multiple asset categories that are often overlooked.
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"Big Beautiful Bill" Stalls: Federal Estate Tax Exemption Sunset Looms
WASHINGTON – The "Big Beautiful Bill" is stalled in Congress, heightening uncertainty as the federal estate tax exemption approaches its scheduled sunset in 2026. Without new legislation, the exemption could significantly drop, impacting financial planning for many families.
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Update - 3/25/2025 - FinCEN Removes BOIR for U.S. Companies and U.S. Persons
WASHINGTON – Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.
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Congratulations Grant!
Again!On June 13, 2024 the State Bar of Arizona's Tax Section
of Attorneys elected Tax & Estate Planning Partner
Grant M. Boland, J.D., LL.M.
as the Chair of the Tax Section. -
Congratulations Grant!
The Scottsdale Bar Association (SBA) announced on April 9, 2024
that Tax & Estate Planning Partner Grant M. Boland, J.D., LL.M.
has been elected as President of the organization. -
Corporate Transparency Act is Here
The Corporate Transparency Act (CTA), enacted in 2021 and effective January 1, 2024, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. It is designed to capture more information about the ownership of specific entities operating in or accessing the U.S. market.
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Where You Live Matters,
at least for Estate Planning
Did you know some states have estate tax, inheritance tax, both, or neither? But all states have individual laws governing how the assets of the deceased are determined, taxed and distributed.
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Making large gifts now won’t harm estates after the 2025 exemption sunset
On November 26, 2019, the IRS clarified that individuals taking advantage of the increased gift tax exclusion amount in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels. The IRS formally made this clarification in final regulations released that day.
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Arizona's Private Client
Estate Planners
Our guidance is multidimensional — we help clients make critical decisions that affect important personal, business, tax, civic and charitable concerns. We support and collaborate with your other key advisors to craft the optimal strategies for your family's wealth transfer objectives.
