Administrative Law, Wills, Trusts, & Estate Planning, Finance & Banking

After the Fiscal Cliff — A Summary of the New Federal Gift and Estate Tax Law

by Gary Phillips, Steven Saraisky | Cole Schotz on 1/11/2013

Congress took the fiscal cliff negotiations over the brink but was finally able to reach a deal resulting in the American Taxpayer Relief Act of 2012 (“2012 Act”). The 2012 Act makes the estate and gift tax laws “permanent,”...more

Legal Update - 2013

by D. Michael O'Leary, J. Eric "Tate" Taylor, Gary Teblum | Trenam Kemker on 1/10/2013

In This Issue: - Summary of Income Tax Provisions in the American Taxpayer Relief Act of 2012 - Summary of Federal Estate, Gift and GST Tax Provisions of the 2012 Act Please see full issue below for more...more

Wealth Management Update Newsletter - January 2013

by Proskauer Rose LLP on 1/10/2013

We Didn't (Quite) Fall off the Cliff, But We Still Have To Clean up the Mess! When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working...more

The American Taxpayer Relief Act of 2012 Stabilizes Federal Estate, Gift and Generation-skipping Transfer Tax Law

by Henry Grix, Judith Fertel Layne | Dickinson Wright on 1/10/2013

The American Taxpayer Relief Act of 2012 (the "2012 Act") — actually passed by Congress on January 1, 2013 — brings welcome stability to federal estate, gift and generation-skipping transfer tax law which has been in...more

Summary of Federal Estate, Gift and Generation-Skipping Transfer Tax Provisions of the American Taxpayer Relief Act of 2012

by J. Eric "Tate" Taylor | Trenam Kemker on 1/9/2013

The American Taxpayer Relief Act of 2012 (the “2012 Act”) was signed into law by President Obama on January 2nd. A summary of the important income tax features of the 2012 Act can be read here. This article summarizes the...more

Legal Alert: The Cliff-Hanger (Chapter One) is Over: Highlights of the American Taxpayer Relief Act of 2012

by Robert S. Chase II, Adam Cohen, Nikola R. Djuric, Dwaune Dupree, Daniel McKeithen, Amish Shah, Douglas Siegler, Carol Tello | Sutherland Asbill & Brennan LLP on 1/8/2013

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act), effective as of January 1, 2013. In general, the Act made permanent for most taxpayers the tax rate cuts first enacted...more

Charitable Giving Under the New Tax Law: A Unique (But Brief) Opportunity for IRA Rollovers and Other Highlights

by Patterson Belknap Webb & Tyler LLP on 1/8/2013

The American Taxpayer Relief Act of 2012 enacted in Washington last week creates a unique opportunity for charitable giving. Individuals with IRAs who have attained age 70½ may make a tax-free rollover to charity of up to...more

IRA Charitable Rollover Provisions Revived

by Kristin Matsko, David Morganelli | Partridge Snow & Hahn LLP on 1/8/2013

The American Taxpayer Relief Act of 2012, signed into law on January 2, 2013, revives the IRA charitable rollover provisions which originally expired in 2011. The revived IRA charitable rollover allows an individual who is...more

Highlights of the American Taxpayer Relief Act of 2012

by Stephen DiBonaventura, George Nemphos | Duane Morris LLP on 1/7/2013

After hotly debated year-end negotiations, the U.S. Senate and House of Representatives passed H.R. 8, the American Taxpayer Relief Act of 2012, on January 1, 2013. On January 2, 2013, President Obama signed the bill into...more

Saved from the Fiscal Cliff

by Christopher Anderson | Armstrong Teasdale LLP on 1/7/2013

The American Taxpayer Relief Act of 2012 (“ATRA”) was signed into law by President Obama on January 2, 2013. ATRA is a large tax package that renewed tax breaks for individuals and businesses and avoided automatic spending...more

The American Taxpayer Relief Act of 2012: A (Mostly) Happy New Year for the Estate, Gift and GST Taxes

by Ropes & Gray LLP on 1/7/2013

The nation having stepped off the dreaded fiscal cliff at the end of 2012, Congress immediately pulled the ripcord, passing the “American Taxpayer Relief Act of 2012” (the 2012 Act) on New Year’s Day. President Obama signed...more

President Signs American Taxpayer Relief Act of 2012

by David Raymon | Partridge Snow & Hahn LLP on 1/3/2013

On Wednesday, January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief Act of 2012. The legislation increased the maximum federal estate tax rate, but otherwise made permanent many of the estate,...more

Taxpayer Relief Act Brings Assortment of Changes

by Thomas Bonasera, Frederick Caspar, Staci Norman Criswell, Lee Stautberg | Dinsmore & Shohl LLP on 1/3/2013

Early on January 1, 2013, the Senate, by a vote of 89 to 8, approved H.R. 8, “the American Taxpayer Relief Act” (ATRA or the Bill). The House of Representatives passed the Bill by a vote of 257 to 167. Following are the major...more

Tax Law Blog: Estate and Gift Law Tax Aspects of Fiscal Cliff Legislation

by Margaret Van Houten | Davis Brown Law Firm on 1/3/2013

The Fiscal Cliff legislation passed by the Senate on Monday and the House of Representatives late on New Year’s Day extends the estate, gift and generation skipping tax provisions we have been working with in 2011 and 2012....more

Burr Alert: The Other Side Of The "Fiscal Cliff"

by Edward Brown | Burr & Forman on 1/3/2013

Congress began 2013 by passing "The American Taxpayer Relief Act of 2012" (the "Act") reflecting a plan negotiated by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) to avoid a series of tax hikes...more

Washington Watch: House GOP Leadership and the ‘Fiscal Cliff’

by Teddy Eynon, David Ransom, Erica Stocker | McDermott Will & Emery on 1/3/2013

An analysis of the year-end fiscal negotiations and their consequences. As the United States rapidly approached the “fiscal cliff,” negotiations between President Barack Obama and House Speaker John Boehner (R-OH)...more

Municipal Pensions II: Do Survivors' Pensions Increase Whenever the Salary For the Position Does?

by Kirk Jenkins | Sedgwick LLP on 12/15/2012

Our previews of the new civil cases granted review at the end of the Illinois Supreme Court’s November term continue with Hooker v. Retirement Fund of the Firemen's Annuity and Benefit Fund of Chicago,. Hooker poses the...more

An Update on Preparing Living Wills for Foreign Banking Organizations — Exemptions and Important Strategy Considerations

by Joseph T. Lynyak III, Rodney R. Peck | Pillsbury Winthrop Shaw Pittman LLP on 12/3/2012

This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills by covered...more

No Divorce from Spouse #1? Common Law Spouse #2 Not Entitled to Pre-Retirement Death Benefits

by Osler, Hoskin & Harcourt LLP on 11/2/2012

In the recent case of Carrigan v. Carrigan Estate, the Ontario Court of Appeal has effectively re-written the law on pre-retirement death benefits under the Ontario Pension Benefits Act (the PBA)....more

CRA Provides Update on Audit Priorities and Activities

by Dentons on 11/1/2012

At the Canadian Tax Foundation’s recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference’s “Tax Administration...more

A Misleading Article in the Wall Street Journal (Weekend Investor) Suggesting that Social Security is a Funded Pension Plan.

by Charles E. Rounds, Jr. on 11/1/2012

Two U.S. Supreme Court cases long ago confirmed that Social Security is an unfunded federal welfare program. One writer at the Wall Street Journal has apparently yet to get the message. ...more

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Administrative Law › Wills, Trusts, & Estate Planning › Finance & Banking