Federal Estate and Gift Taxes, Pennsylvania Inheritance Taxes and Measures to Reduce Them

August 9, 2016

Howard Vigderman

Even with the federal estate tax exemption at an historically high $5,450,000 (in 2016) and the estate tax rate at an historically low 40%, federal estate tax is no fun to pay. Neither is Pennsylvania inheritance tax, which has no exemption.

Howard Vigderman, co-chair of the Business Department of Montgomery McCracken and chair of the firm’s Trusts and Estates practice, recently authored an outline that describes these taxes and the steps you can take to minimize or avoid them so that your assets pass to the beneficiaries you choose and not to the government.

Federal Estate and Gift Tax and Use of Applicable Exclusion Amount

Pennsylvania Inheritance Tax

Gifting Techniques

Irrevocable Life Insurance Trust

Family Limited Partnerships and Limited Liability Companies

Qualified Personal Residence Trusts

Grantor Retained Annuity Trusts

Charitable Remainder Unitrust Trusts

To view the outline, please click here.