Mad Dogs and Panameños!
The Family Loan Shark
September 2024 AFRs and 7520 Rate - The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September...more
The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more
The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.0%. The April applicable federal rate (“AFR”) for use with a sale to a defective grantor trust or intra-family loan...more
On March 20, 2023, Senators Warren, Sanders, Van Hollen, and Whitehouse addressed a letter to Treasury Secretary Yellen in which they urged Yellen “to use [her] existing authority to limit the ultra-wealthy’s abuse of trusts...more
February 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The February applicable federal rate (“AFR”) for use with a sale to a defective grantor...more
By most accounts, 2022 has been a tumultuous year from a planning perspective: the uncertainty of the midterm elections, stock market volatility, rising interest rates and the highest level of inflation in recent history have...more
The June Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 3.6%, an increase from the May rate of 3.0%. The June applicable federal rate (“AFR”) for use with a sale to a...more
Federal interest rates increased slightly for December of 2021 but remain fairly low historically. The December Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.6%, which is...more
When interest rates are low, intrafamily loans can be a good way to assist a relative (typically a child) with purchasing a house or a family business, and in certain circumstances they can be used to gift money to the next...more
Federal interest rates were largely stable in August of 2021.The August applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a...more
The 7520 rate for January 2021 remained at 0.6%. The January 2021 Applicable Federal Interest Rates can be found here. ...more
December 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - Certain federal interest rates increased slightly for December of 2020, while...more
Woe to Us? We live in strange times. The coronavirus pandemic hit the United States hard, the scientific community fears a second round later this year, and there have been wildly differing estimates over when an...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 14, 2020 – September 18, 2020... September 14, 2020: The IRS published final...more
In December 2017, President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. As a result, the lifetime gifting and estate tax exemption (“Estate Tax Exemption”), as well as the generation-skipping transfer tax...more
The 7520 rate for October 2020 remained at 0.4%. The October 2020 Applicable Federal Interest Rates can be found here. ...more
The 7520 rate for September 2020 remained at 0.4%. The September 2020 Applicable Federal Interest Rates can be found here. ...more
It has been said that you can predict anything but the future. So it is with estate and tax planning. That being said, let’s look to see what some of the tax law changes might be in 2021 and beyond....more
At this time, unless Congress acts, the current lifetime estate tax exemption amount of $11,580,000 is set to sunset in 2025, which means that in 2026 it will revert to $5,000,000 per person, adjusted for inflation. Many...more
The 7520 rate for August 2020 dropped to 0.4%. The August 2020 Applicable Federal Interest Rates can be found here. ...more
A confluence of events has created an uncommon opportunity to transfer wealth and support charity: financial markets have declined because of the COVID-19 pandemic; in response, the Coronavirus Aid, Relief, and Economic...more
The 7520 rate for May 2020 decreased to 0.8%. The May 2020 Applicable Federal Interest Rates can be found here. ...more
March 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Important federal interest rates continue to hold relatively steady. The March Section 7520...more
The 7520 rate for March 2020 decreased to 1.8%. The March 2020 Applicable Federal Interest Rates can be found here....more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 17 – 21, 2020. February 18, 2020: The IRS issued a revenue ruling providing various...more