Wealth Counselor September 2018  Like us on Facebook Follow us on Twitter View our profile on LinkedIn
Dear Friends, 

As we begin the final quarter of 2018, let's take some time to reflect on the changes occurring in the tax laws.  These tax law changes, positively affect almost all estate plans.  Given the new high estate tax exemption, less than 1% of families are subject to the estate tax.  That is the good news.  What is the bad news?  Although the estate tax will not affect most families, outdated estate plans including A/B Trust Tax Plan provisions will require more complicated estate administration than necessary if the documents are not updated and amended.
Take some time to read New Relevance of Income Taxes to see if your clients need to review their estate planning documents.

Happy reading!
Join us for our Fall Continuing Education Program!

Wealth Preservation for Virginians

We will be offering three hours of CE credit  for Insurance (approved for Laws and Regs) , Enrolled Agents, CFP, and CPAs at three locations!

The following points will be discussed in detail at the three-hour workshop:
  • Sources of legal and financial liability in today's litigious environment, as well as ways to protect yourselves and your clients from liability.
  • How the different forms of business ownership, retirement planning, and income tax planning can be used for asset protection.
  • How the use of life insurance can be used as one of the tools in the planning process.
Date: October 9, 2018
Time: Lunch from 12:15 and program 1 pm - 4 pm
Location: Carrell Blanton Ferris Office**
** Note this is a change in location**

Date: October 23, 2018
Time: Breakfast at 8:30 am and program 9 am - 12 pm
Location: Holiday Inn Newport News


Article written by Trey T. Parker, Esq.
Historically, estate planning has focused more on estate, gift, and generation-skipping taxes, and less on income taxes. Therefore, most estate plans for affluent couples include what is often referred to as "A-B Trusts." Following the substantial changes made by the American Tax Cuts and Jobs Act (TCJA), including the increase in the estate tax exemption to $11.2 million per person and the retention of the Deceased Spouse Unused Exclusion Amount (also known as "Portability"), traditional A-B Trusts may not only be unnecessary for estate tax purposes, they may result in unnecessary capital gains tax liability.

Richmond and Williamsburg friends!

Tune into Raising the Bar Law Talk Radio Show on Wednesday, October 10th at 9AM! Attorney Michael G. Montgomery will be discussing Estate Planning. Like us on Facebook and be notified when the live stream begins!


U.S. Treasury Department Regulations require that we advise you that, unless otherwise expressly indicated, any federal tax advice contained herein is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax related matters addressed herein.



Carrell Blanton Ferris & Associates, PLC