PROPOSED CHANGES TO THE ESTATE/GIFT TAX

  Senator Bernie Sanders (D-VT) introduced legislation that, if passed, would have a significant impact on the transfer tax system of the United States. The proposed legislation includes the following changes: Estate tax exemptions of $3.5 million Gift tax exemptions of $1 million $20K annual gift tax exclusion 50-year limit on Generation-Skipping trusts (GST) Grantor…

Marriage, Children, and Divorce

It sounds simple: You meet, you fall in love, you get married, and as an expression of that love, you have children. Yet, as we approach peak wedding season, it might be difficult to think about parenting options if the marriage ends in divorce or dissolution. However, just because a marriage ends, parenting doesn’t. During…

Jim Jacobson Retiring after 25 years of legal practice

Jim Jacobson announced his retirement from the practice effective Jan. 31, 2021. A certified specialist in estate planning, Jim practiced in the probate department at Pickrel, Schaeffer & Ebeling for over 25 years, following almost 20 years in practice with his father, grandfather, and as a solo practitioner. A former Chair of the Probate Department…