--- title: Machen McChesney Blog | Estate Planning description: Estate Planning | --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-re-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-re-cobrand-fd-blues.png?width=279&height=100&name=mm-re-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - [Google](https://plus.google.com/101356546927388458481) - [Twitter](https://twitter.com/machenmcchesney) - About Us - [Welcome](http://machenmcchesney.com/about-us/welcome/) - [Affiliations and Associations](http://machenmcchesney.com/about-us/affiliations-and-associations/) - [Community Events](http://machenmcchesney.com/about-us/community-events/) - [Family of Companies](http://machenmcchesney.com/about-us/family-of-companies/) - [History](http://machenmcchesney.com/about-us/firm-profile-history/) - [Mission and Values](http://machenmcchesney.com/about-us/mission-and-values/) - [Team Directory](http://machenmcchesney.com/about-us/team-directory/) - Services - [Accounting & Outsourcing](http://machenmcchesney.com/services/accounting-outsourcing/) - [Audit and Assurance Services](http://machenmcchesney.com/services/audit-assurance/) - [Business Advisory Services](http://machenmcchesney.com/services/business-advisory/) - [Business Valuation Services](http://machenmcchesney.com/services/business-valuation-services/) - [Family Office Services](http://machenmcchesney.com/services/family-care/) - [Financial Planning & Wealth Mangement Services](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) - [Individual Services](http://machenmcchesney.com/services/individuals/) - [Taxation](http://machenmcchesney.com/services/taxation/) - Who We Serve - [Construction & Real Estate](http://machenmcchesney.com/industries/construction-real-estate/) - [Credit Unions](http://machenmcchesney.com/industries/credit-unions/) - [Government & Not-For-Profits](http://machenmcchesney.com/industries/governmental-not-for-profit/) - [Healthcare & Professional Services](http://machenmcchesney.com/industries/healthcare-and-professional-services/) - [Hospitality, Restaurant & Retail](http://machenmcchesney.com/industries/hospitality-restaurant-retail/) - [Manufacturing, Distribution & Automotive](http://machenmcchesney.com/industries/manufacturing-distribution-automotive/) - [Success Stories](http://machenmcchesney.com/success-stories) - Resources - [Blog](https://info.machenmcchesney.com/blog) - [E-Newsletter Archive](http://machenmcchesney.com/resources/e-newsletter-archive/) - [Financial Calculators](http://machenmcchesney.com/resources/financial-calculators/) - [Financial Terms Glossary](http://machenmcchesney.com/resources/financial-terms-glossary/) - [Helpful Articles](http://machenmcchesney.com/resources/newsletter/) - [Tax Calendar](http://machenmcchesney.com/resources/tax-calendar/) - [Tax Links](http://machenmcchesney.com/resources/tax-links/) - [Track Your Refund](http://machenmcchesney.com/resources/track-your-refund/) - [Sign Up for Our E-Newsletter](http://machenmcchesney.com/resources/e-newsletter/) - [Subscribe to Our Blog](http://machenmcchesney.com/resources/subscribe-to-the-machen-mcchesney-blog/) - News & Events - [Press Releases](http://machenmcchesney.com/news-events/press-releases/) - [Upcoming Events](http://machenmcchesney.com/news-events/upcoming-events/) - Careers - [Our Culture](http://machenmcchesney.com/careers/culture/) - [Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## [If You Live in Alabama, Here's How to Pass Your Home to Your Children.](https://info.machen.cpa/blog/if-you-live-in-alabama-heres-how-to-pass-your-home-to-your-children) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Sep 18, 2023 [![](https://info.machen.cpa/hubfs/Last%20Will%20and%20Testament%20817348200-1.jpeg)](https://info.machen.cpa/blog/if-you-live-in-alabama-heres-how-to-pass-your-home-to-your-children) Last month, an article was posted, " [How to Leave Your Home to Your Children](https://info.machen.cpa/blog/how-to-leave-your-home-to-your-children)." The article was not specific to the state of Alabama. Jan Neal, an attorney with Jan Neal Law Firm, LLC, offered to give us advice more specific to the State of Alabama. The state has specific rules, and below is Jan Neal's article: [Full Story](https://info.machen.cpa/blog/if-you-live-in-alabama-heres-how-to-pass-your-home-to-your-children) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [How to Leave Your Home to Your Children](https://info.machen.cpa/blog/how-to-leave-your-home-to-your-children) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Jul 20, 2023 [![](https://info.machen.cpa/hubfs/estate%20planning%20for%20your%20home-529659484-1.jpeg)](https://info.machen.cpa/blog/how-to-leave-your-home-to-your-children) Homes are one of the greatest and most expensive assets many people have. As a parent, you want your children to have your home after you die, but to ensure that your children are left with your home, there are some important steps that you must take. [Full Story](https://info.machen.cpa/blog/how-to-leave-your-home-to-your-children) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [Have Qualified Small Business Stock? Consider Section 1202 as Part of Your Estate and Trust Planning](https://info.machen.cpa/blog/have-qualified-small-business-stock-consider-section-1202-as-part-of-your-estate-and-trust-planning) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Jun 26, 2023 [![](https://info.machen.cpa/hubfs/Estate%20Planning%20-1179491461-1.jpeg)](https://info.machen.cpa/blog/have-qualified-small-business-stock-consider-section-1202-as-part-of-your-estate-and-trust-planning) Tax Strategist Insight For individuals seeking to minimize taxes while also transferring wealth to the next generation, the income tax benefits provided under Internal Revenue Code Section 1202 can match up well with estate planning efforts. Section 1202 permits a taxpayer other than a corporation to exclude from taxable income a specified percentage of gain – and potentially the entire gain – from the sale or exchange of “qualified small business stock” (QSBS) held for more than five years. In addition, with proper planning, each recipient of a gift of QSBS is also eligible for the gain exclusion. [Full Story](https://info.machen.cpa/blog/have-qualified-small-business-stock-consider-section-1202-as-part-of-your-estate-and-trust-planning) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [IRS Issues Proposed Regulations That Refine Estate and Gift Tax Anti-Clawback Rule](https://info.machen.cpa/blog/irs-issues-proposed-regulations-that-refine-estate-and-gift-tax-anti-clawback-rule) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on May 26, 2022 [![](https://info.machen.cpa/hubfs/IRS%20-1224849717-1.jpeg)](https://info.machen.cpa/blog/irs-issues-proposed-regulations-that-refine-estate-and-gift-tax-anti-clawback-rule) The Treasury Department, on April 26, 2022, released proposed regulations limiting the anti-clawback rule previously published on November 26, 2019. The proposed regulations – [REG-118913-21](https://www.federalregister.gov/documents/2022/04/27/2022-08865/estate-and-gift-taxes-limitation-on-the-special-rule-regarding-a-difference-in-the-basic-exclusion) – address certain situations in which an estate could be taxed on gifts made by a donor after 2017 and before a reduction in the basic exclusion amount (BEA), wherein the gifts were free of gift tax when made. [Full Story](https://info.machen.cpa/blog/irs-issues-proposed-regulations-that-refine-estate-and-gift-tax-anti-clawback-rule) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [Choose Wisely When Naming the Right Personal Representative](https://info.machen.cpa/blog/choose-wisely-when-naming-the-right-personal-representative) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Nov 04, 2020 [![](https://info.machen.cpa/hubfs/Last%20Will-1220731939-1.jpeg)](https://info.machen.cpa/blog/choose-wisely-when-naming-the-right-personal-representative) If you have a will instead of a trust, choosing the right person to serve as the personal representative should be made only after careful consideration. While many of us have clarity on who our beneficiaries are, we often do not take considerable concern into the pivotal role of a personal representative. [Full Story](https://info.machen.cpa/blog/choose-wisely-when-naming-the-right-personal-representative) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [Estate Planning Beyond The Headlines](https://info.machen.cpa/blog/estate-planning-beyond-the-headlines) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Apr 30, 2018 [![](https://info.machen.cpa/hubfs/IFF_EstateTaxes_IMAGE_560x292-309063-edited.jpg)](https://info.machen.cpa/blog/estate-planning-beyond-the-headlines) Ways the new tax law affects federal estate taxes. [Full Story](https://info.machen.cpa/blog/estate-planning-beyond-the-headlines) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [5 Estate Planning Tips for The Sandwich Generation](https://info.machen.cpa/blog/5-estate-planning-tips-for-the-sandwich-generation) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Mar 05, 2018 [![](https://info.machen.cpa/hubfs/iStock-699849122-467580-edited.jpg)](https://info.machen.cpa/blog/5-estate-planning-tips-for-the-sandwich-generation) The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this includes providing parents with financial support. As a result, estate planning — which traditionally focuses on providing for one’s children — has expanded in many cases to include aging parents as well. [Full Story](https://info.machen.cpa/blog/5-estate-planning-tips-for-the-sandwich-generation) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [A Joint Home Purchase Can Ease Estate Tax Liability](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Feb 26, 2018 [![](https://info.machen.cpa/hubfs/iStock-474711954-706021-edited.jpg)](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability, provided the children have sufficient funds to finance their portion of the purchase. With the gift and estate tax exemption now set at an inflation-adjusted $10 million thanks to the Tax Cuts and Jobs Act, federal estate taxes are less of a concern for most families. However, the high exemption amount is only temporary, and there’s state estate tax risk to consider. [Full Story](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (239)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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