For estate-planning professionals, one of the more complex aspects of administering a client’s estate is the preparation of Internal Revenue Service Form 706, the United States Estate (and ...

Q. My mother passed away in 2019 with $4 million of assets all being distributed to Class A beneficiaries. An attorney handling the estate advised that a Form 706, federal estate tax return, did not ...

Major update includes support for newly redesigned IRS Form 706 The 2026 edition of The Lackner Group, Inc.’s 6-in-1 Estate and Trust Administration Software has been released, featuring updates ...

On July 8, 2022, the IRS issued Revenue Procedure 2022-32, which provides a simplified method for taxpayers to obtain an extension of time to make a portability election of a deceased spouse’s unused ...

A common financial mistake married farm couples make occurs when the first spouse dies, and the surviving spouse fails to “elect portability.” It’s a process by which any unused federal gift or estate ...

At death, an individual who made no taxable gifts during life will have the entire basic exclusion amount remaining. An individual who made taxable gifts during life will have something less than the ...