BLACK LIVES MATTER

D.C.’S Estate Tax Exemption Reduced

In response to budgetary pressures, D.C. Mayor Muriel Bowser signed the “Estate Tax Adjustment Amendment Act of 2020.”  The Act reduces the estate tax exemption from $5.76million in 2020 to $4 million for decedents dying on or after January 1, 2021.  The exemption amount will be adjusted for inflation starting in 2022 and will continue to […]

Tax Planning, the Federal Estate Tax and Portability

The federal estate tax is a tax imposed on the value of assets includable in a decedent’s estate. However, each person has an exemption amount. The federal estate tax exemption is the total amount a person can transfer to any benefi ciary without paying estate tax. In 2014, the federal estate tax exemption is $5.34 […]

Maryland Attorney General Opinion: Implementation of Same-Sex Marriage

As a result of voter approval, the Maryland Code has been amended to provide: “Only a marriage between two individuals who are not otherwise prohibited from marrying is valid in this State.”  Same-sex spouses and couples in Maryland are entitled to the same rights and obligations under Maryland law as opposite-sex spouses and couples.  On […]