Most folks know that the federal government imposes an estate tax on estates with total assets that exceed $12.92 million in 2023. The Internal Revenue Code (“Code”) Section 2010 calls that amount the “Applicable Exclusion Amount” (“AEA”) and adjusts it for inflation annually. Even if individuals do not have that number etched in their memory, […]
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What to Do With an Inheritance
Research shows that more adult children may find themselves unexpectedly inheriting wealth over the next two decades. The silent generation,...