FAN LAW OFFICE

Many people plan to leave charitable bequests in their will. It's a meaningful gesture — but it may not be the most strategic approach. Giving during your lifetime often produces greater impact, greater satisfaction, and greater tax benefits than giving at death. Why give now rather than at death? You see the impact. A gift made during your lifetime lets you witness the difference it makes — a scholarship awarded, a building constructed, a program funded. This is something a

For families with substantial assets — particularly those holding assets expected to appreciate significantly — a Grantor Retained Annuity Trust (GRAT) is one of the most powerful estate tax reduction tools available. Here's the basic concept: You transfer assets into a GRAT and receive fixed annuity payments from the trust for a set number of years (the trust term). When the term ends, whatever remains in the trust — the original assets plus any appreciation above a threshol

Every fall, the IRS releases updated numbers that quietly shape how families can pass wealth to the next generation. For 2026, the announcement brings significant good news — and an important change that makes this year's update especially notable. The 2026 Numbers The annual gift tax exclusion will remain at $19,000 per recipient in 2026, the same as 2025. The estate and gift tax exemption will be $15 million per individual — up from $13.99 million in 2025. A married couple

If you have an IRA, a 401(k), or another tax-deferred retirement account, the rules governing what happens to those funds at your death changed significantly — and not to most families' benefit. Before 2020, a non-spouse beneficiary who inherited an IRA could stretch distributions over their own lifetime. A 40-year-old inheriting a $500,000 IRA could take small required minimum distributions over 40+ years, keeping the bulk of the money growing tax-deferred. The SECURE Act of

Each fall, the IRS releases updated gift and estate tax figures for the coming year. The 2025 numbers bring welcome increases — but they also come with an important warning that every family with assets should understand. The 2025 Numbers The annual gift tax exclusion is increasing in 2025 to $19,000 per recipient — the highest exclusion amount ever — up from $18,000 in 2024. The estate and gift tax exemption will be $13.99 million per individual for 2025 gifts and deaths, up