In response to budgetary pressures, D.C. Mayor Muriel Bowser signed the “Estate Tax Adjustment Amendment Act of 2020.” The Act reduces the estate tax exemption from $5.76million in 2020 to $4 million for decedents dying on or after January 1, 2021. The exemption amount will be adjusted for inflation starting in 2022 and will continue to […]
The federal estate tax is a tax imposed on the value of assets includable in a decedent’s estate. However, each person has an exemption amount. The federal estate tax exemption is the total amount a person can transfer to any benefi ciary without paying estate tax. In 2014, the federal estate tax exemption is $5.34 […]
As a result of voter approval, the Maryland Code has been amended to provide: “Only a marriage between two individuals who are not otherwise prohibited from marrying is valid in this State.” Same-sex spouses and couples in Maryland are entitled to the same rights and obligations under Maryland law as opposite-sex spouses and couples. On […]
