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Hedge your bets with a SLAT One of the biggest challenges of estate planning is dealing with uncertainty. For 2022, for example, the federal gift and estate tax exemption is $12.06 million, but it’s scheduled to be cut in half after 2025. And some lawmakers would like to shrink it even more. Given the uncertainty...
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Some assets pose more of a challenge than others when it comes to valuing and accounting for them in an estate plan. Take, for instance, your art collection. If you possess paintings, sculptures or other pieces of art, they likely represent a significant portion of your estate. Here are a few options available to address...
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Setting up an investment account for your minor child can be a tax-efficient way of saving for college or other expenses. And one of the simplest ways to invest on your child’s behalf is to open a custodial account under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA). These...
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Portability helps minimize federal gift and estate taxes by allowing a surviving spouse to use a deceased spouse’s unused gift and estate tax exemption amount. Currently, the exemption is $12.06 million, but it’s scheduled to return to an inflation-adjusted $5 million on January 1, 2026. Some lawmakers have proposed lowering the amount even further. Portability...
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Article co-authored by DFH attorneys Brian Williams and Alex Priester featured in the September issue of the Alabama Lawyer. Click here to read. View Article
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To Our Clients and Friends, As we reach the end of the first week of our new normal, we wanted to reach out to each of you to give you an update.  Although we all continue to adjust, Dominick Feld Hyde, P.C. remains open and ready to advise and assist with your legal needs. Important...
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Dominick Feld Hyde attorneys are working to keep you updated on any issues that our clients may be concerned about. Please feel free to call your attorney with any questions or concerns. Yesterday, in response to the Covid-19 pandemic, the Treasury Secretary Steven Mnuchin just announced a 90 day extension for paying individual and subchapter...
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Sara Dominick Clark
Not many firms trace their roots of almost 80 years to a female attorney. Dominick Feld Hyde is proud to carry the name of our founder Sara Dominick Clark who recently was honored in the Alabama Lawyer (the periodical published by the Alabama State Bar) on the occasion of her 100th birthday [Alabama Bar Article...
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Alabama Opportunity Scholarship
The Alabama Accountability Act, passed in 2013, established a non-profit 501(c)3 organization entitled Scholarships for Kids, which works directly with qualified, non-public schools to offer a road to opportunity for the children who need it most to ensure they’re receiving a quality education with full scholarships to eligible universities. While this scholarship is only open...
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Digital assets
With the advent of the internet, smart phones and tablets, and the move to digitize just about everything, it is important to remember your digital assets when designing and implementing your estate plan. Digital assets include your email accounts, social media accounts, online banking and brokerage accounts, and digital movies, music and images stored online....
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