News & Analysis as of September 21, 2024

Trump Administration

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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 -

Estate Planning Still Critical in Uncertain Times

Bowditch & Dewey on 6/23/2017

The “plan” unveiled by the Trump administration in late April to repeal the federal estate tax was a broadly vague outline of tax reform goals. The proposed changes did not mention the federal gift tax or generation skipping...more

The Future Of Proposed IRS § 2704 Modifications Is Uncertain

Adler Pollock & Sheehan P.C. on 3/7/2017

Proposed changes to Internal Revenue Code (IRC) § 2704, which would impact the valuation of transfers of family business interests at death, come at an interesting time politically given the Trump Administration’s desire to...more

2016 Year-End Trusts & Estates Update

Patterson Belknap Webb & Tyler LLP on 12/19/2016

As 2016 comes to a close, we would like to share with you a number of recent developments affecting trust and estate planning that may be of interest: Final regulations restricting valuation discounts unlikely to be...more

Potential Transfer Tax Reform and 2016 Year-End Tax Planning Considerations

Holland & Knight LLP on 12/13/2016

With the upcoming Republican control of the executive and legislative branches, tax changes are certain to occur. As articulated thus far, President-Elect Donald Trump has proposed the elimination of the federal estate tax in...more

For high net worth individuals - What can you do before the end of the year to protect against potential changes in the tax laws? ...

Dickinson Wright on 12/12/2016

President-elect Trump has posted his tax proposals on his website. Although we are unable to say with certainty whether any of these proposals will be enacted, we address three of his proposals and our suggestions. Any of...more

Estate Planning NOW: Preparing for a New Government

Lewitt Hackman on 12/1/2016

It’s impossible to predict what any future president will do, or what Congress will approve. But in light of comments president-elect Donald J. Trump made on the campaign trail, and given that Grand Old Party members will...more

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