News & Analysis as of September 20, 2024

Tax Exemptions

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Maryland And Federal Estate Tax Portability In A Nutshell

Dunlap Bennett & Ludwig PLLC on 7/14/2023

In the technology world, portability has become increasingly important as people become more mobile and reliant on a variety of devices to access and use information. Portability allows individuals to work remotely or while...more

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/22/2016

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Income Tax Cost Basis Planning

McNees Wallace & Nurick LLC on 11/27/2013

Prior to the recent and significant increases in the federal estate tax exemption amount, many clients engaged in planning the purpose of which was to ensure the use of both spouses’ exemption amount through the use of a...more

2013 Estate Planning – Still Not The Time To Be Complacent

Cole Schotz on 5/13/2013

The end of 2012 saw an unprecedented surge of activity for estate planning attorneys and advisors counseling clients to implement estate plans before the 2013 changes in the law, which would have reduced gift and estate tax...more

What the “Fiscal Cliff” Resolution Means for Personal Estate Planning

Dechert LLP on 1/24/2013

For the first time in 12 years, the estate, gift and generation-skipping transfer tax law does not have a built-in expiration date in the United States. Congress has exempted all estates below approximately $5 million ($10...more

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