News & Analysis as of

Estate Tax Property Owners

Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.
Kilpatrick

Estate Planning for Real Estate: Vacation Home Edition

Kilpatrick on

As summer draws to a close, you may find yourself reminiscing about your vacations taken earlier this season. Those vacations may have involved traveling to your second home with your family. If you own a vacation home, now...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, March/April 2024

Revocable trusts - Don’t forget to fund the trust throughout your lifetime - Many estate plans are built around revocable trusts (sometimes called “living trusts”). These trusts allow you to 1) avoid the time, expense...more

Schwabe, Williamson & Wyatt PC

Oregon’s New Estate Tax Exemption for Family Businesses engaged in Farming, Forestry, ‎or Fishing Businesses

On July 13, 2023, Governor Tina Kotek signed into law SB 498, which provides a new Oregon estate tax exemption for up to $15 million (the NR Exemption) of natural resource property that is used in a decedent’s farming,...more

McGuireWoods LLP

Once Removed Episode 10: Trustee Removal and Case Update on Leo Kahn Revocable Trust

McGuireWoods LLP on

In this episode, Steve discusses the importance of the rule-based power to remove and replace a trustee. He explores this topic through the Leo Kahn Revocable Trust case in Massachusetts. In this case, the settlor named three...more

Stoel Rives LLP

Clients Living Outside of Oregon and Washington With Real Property In-State Should Consider Holding via an LLC

Stoel Rives LLP on

Many clients, as well as their advisors, are unaware of how the Washington and Oregon estate tax systems work with respect to real and tangible personal property owned in these states by people domiciled elsewhere. In both...more

Bowditch & Dewey

Legal Considerations of Living Together in a Multi-Generational Home

Bowditch & Dewey on

During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more

Ward and Smith, P.A.

Top 10 Estate Planning Mistakes & How to Avoid Making Them

Ward and Smith, P.A. on

As estate planners, we have seen it all over the years. What we have learned is that people make some common mistakes. Whether due to procrastination, lack of follow through, or ignoring their own mortality! This article...more

Ward and Smith, P.A.

What Could Go Wrong? The Importance of Business Succession Planning

Ward and Smith, P.A. on

Most business owners expect that their company will continue to operate after they stop working. However, successfully transitioning control of a business rarely occurs without thoughtful planning. Consideration must be...more

Holland & Knight LLP

U.S. Tax Reform's Main Effects on Real Property Investors and Developers

Holland & Knight LLP on

President Donald Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017, enacting comprehensive U.S. tax reform with most provisions becoming effective starting on January 1, 2018 (generally until 2025). The...more

Burr & Forman

South Carolina Conservation Easements for Farm and Forestry Property

Burr & Forman on

There are 12.9 million acres of commercial forestland in South Carolina. More than half of the forestland is family-owned, and 82% of private owners live on the land. The state also has about 25,000 farms, which encompass 4.9...more

Stinson LLP

Emerging Trends Newsletter - Q4

Stinson LLP on

The Volcker Rule Under the Trump Administration - The so-called Volcker Rule—named after Paul Volcker, a former chairman of the Federal Reserve Board—was part of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Cole Schotz

Moved to Florida, but still can’t let go of New York – Will your estate be subject to New York estate tax?

Cole Schotz on

Many New Yorkers who want to move to Florida still desire to retain a home, an apartment, or some other type of property in the place where they grew up. What many of the newly minted Florida residents may not consider are...more

Troutman Pepper

Addressing the Residency Question - Trust and Estates Update Vol. 2015, Issue 1

Troutman Pepper on

Generally, the first criterion for determining whether an individual is subject to probate or to estate or inheritance tax in a state is the individual’s domicile at the time of his or her death. In an increasingly...more

Gerald Nowotny - Law Office of Gerald R....

Mi Casa es Su Casa! - Planning Considerations Non-Resident Aliens Purchasing a Home in America

Overview - In spite of our many problems as a nation, the quality of life and level of economic opportunity as well as the overall respect for the rule of law, places the United States in a very unique position when...more

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