November, the IRS announced the revised federal estate tax and gift tax limits
for 2019. The 2019 federal estate tax
limit will increase from $11.18 million to $11.4 million. The federal gift tax limit will remain at
$15,000. In Maryland, state estate tax
limits will increase to $5 million, up from $4 million in 2018.
Over a year ago, I launched the Maryland Risk Management Education Podcast. In the podcast, I discuss recent court decisions, developing issues, and interview interesting people. New episodes are released every two weeks. Recently released episodes include:
I’ve been out discussing farm succession planning for the past few weeks with a great team of co-presenters. With the workshops, I cover the tools that can help pass the farm on to the next generation or achieve other goals. One tool is co-owning property in a way that allows for ease of transfer. Owning property as a joint tenant or as cotenants can come with different rights and responsibilities. Continue reading →