by Joel Roettger | Jan 9, 2020 | Estate Planning, Tax
Edit Estate Tax Exemption (“Basic Exclusion Amount”) $11,580,000 Applicable Credit Amount $4,577,800 Generation-Skipping Transfer (GST) Tax Exemption $11,580,000 Gift Tax Annual Exclusion $15,000 Taxable Income Threshold at which Highest Rate Applies for...
by Joel Roettger | Dec 26, 2019 | Estate Planning, Retirement Assets, Tax, Trusts
Estate planning for retirement assets just got more interesting. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was signed into law on December 20. It was passed as part of H.R. 1865, Further Consolidated Appropriations Act, 2020. The...
by Joel Roettger | Nov 1, 2019 | Probate
Under certain circumstances, a Tennessee probate court can, on its own initiative, issue an order closing an “old and cold” probate estate. The criteria for closing the estate in this manner are as follows: The estate has been open for at least 18 months; ...
by Joel Roettger | Sep 25, 2019 | Estate Planning, Trusts
Section 5 of the most recent Probate Omnibus Bill, Public Chapter No. 340, adds a new section to Tennessee Code § 31-1-104. Section (d) provides: In a proceeding to determine letters of guardianship or conservatorship, the court shall be vested with the authority to...
by Joel Roettger | May 9, 2019 | Tax
The new law applies to gyms, fitness centers, fitness studios, high intensity interval training, cross training, ballet barre, pilates, yoga, spin classes, and aerobics classes. In a previous post, we noted that in June 2018 the Tennessee Department of Revenue issued...
