News & Analysis as of

Estate Planning Implications of American Taxpayer Relief Act of 2012

The American Taxpayer Relief Act (the Act), which was passed by Congress on January 1, 2013 and signed into law by President Obama on January 2, has finally provided some permanence to the transfer tax laws....more

2013 Estate Planning Update

As 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the...more

Estate Planning & Federal Tax Update - Winter 2013

With the American Taxpayer Relief Act of 2012 (the “ATRA ”) passed and the fiscal cliff safely averted, the time has come to turn your attention to your estate plan. What Did the ATRA Accomplish? The fiscal cliff...more

Estate Planning After the Fiscal Cliff Deal

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

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

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

Wealth Management Update Newsletter - January 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

Ringing in the New Year with Revised Estate and Gift Tax Laws

Congress has averted the so-called fiscal cliff by passing the "American Taxpayer Relief Act of 2012" (the "Act") on January 1, 2013, which President Obama signed into law the following day. The good news is we finally have...more

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

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

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

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

Fiscal Cliff Deferred As Congress Finally Acts

The fiscal cliff has been avoided temporarily as the Congress has passed H.R. 8, the "American Taxpayer Relief Act of 2012" (the "Act"). The Senate passed the Act in the early morning hours of January 1, 2013, by a vote of...more

Fiscal Cliff Averted: Estate, Gift And GST Tax Changes

The country was heading for a “fiscal cliff” as the Bush-era tax cuts were scheduled to expire on January 1, 2013. But the U.S. Senate and House of Representatives voted in the final hours to make those tax cuts permanent...more

2012 Year-End Estate Planning Advisory

Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more

Still Clear as Mud: The Election’s Impact on Estate and Gift Tax Policy

Just two days ago, Barack Obama was re-elected as President. In addition, the Republican Party retained control of the House of Representatives, while the Democratic Party retained control of the Senate....more

The 7520 Rate Drops to All-Time Low by Lawrence D. Hunt and David S. Raymon

The U.S. Treasury has announced that the applicable federal rate under Section 7520 of the Internal Revenue Code (the “7520 rate”) for November 2012 is 1%, matching an all-time low. While this rate has been low all year, it...more

2012 Year-End Estate Planning Alert

As the current federal estate/gift tax law is scheduled to expire on December 31, 2012, this is an opportune time to take advantage of the planning techniques available under current law and to avoid being subject to newly...more

You “Built” It, So Don’t Lose It! Estate Tax Laws to Change Dramatically on December 31, 2012

At the end of 2010, Congress passed, and President Obama signed into law, significant changes in the estate, gift and generation-skipping transfer (“GST”) tax regime. The 2010 tax legislation extended the so-called “Bush Tax...more

Windows of Opportunity: Year-End Gift Planning Opportunities for 2012

Although the end of the year is several months away, it is time to think about taking advantage of the generous tax savings that may be available for 2012 only. The 2010 Tax Act made significant changes to the estate,...more

2012 Year-End Income, Estate & Gift Tax Planning

With 2012 drawing to a close, many Americans may see the end of “Bush-era” income tax cuts as well as significant estate and gift tax reductions, the loss of which will dramatically affect their tax liability in 2013 and...more

Take Advantage of Current Estate Planning Opportunities

The last three years have witnessed substantial changes in federal estate and gift tax laws and more changes are undoubtedly coming. Such changes offer a number of opportunities for clients to achieve their estate planning...more

Considerations For Tax Planning Opportunities Prior to December 31, 2012

This outline is not intended to be a comprehensive outline, but is intended to be a helpful resource summarizing the federal income tax and cited financial planning opportunities available before December 31, 2012 for...more

The Time Is Now: Gift Planning Opportunities Will Expire at Year End

As we enter the second half of 2012, it is important to consider certain time-sensitive estate and gift planning opportunities. The gift and GST tax exemptions were increased to $5,120,000 for 2012 – the highest exemptions in...more

2012 Wealth Transfer Tax Laws: The Window of Opportunity is Rapidly Closing

The window of opportunity to take advantage of the currently applicable wealth transfer tax laws is rapidly closing, and once shut, it is possible that we may never see such generous estate planning opportunities again. ...more

Act Fast to Capture Benefit of Current Gift Tax Exemption

Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more

Extraordinary Estate and Gift Tax Planning Window Might Close Before the End of the Year

The very favorable estate and gift tax planning environment that currently exists could be nearing an end. This Client Alert will have special interest to anyone who has a sizable estate and wants to minimize their family’s...more

Estate Planning Opportunities Set to Expire in Six Months

The next six months provide a short window of opportunity to make substantial gifts without incurring any gift tax. The Federal gift tax exemption is currently $5,120,000, enabling an individual to make aggregate lifetime...more

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