News & Analysis as of

SLAT

Brooks Pierce

Changing Laws Present Unique Estate Planning Opportunities for Married Couples

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Today’s federal estate and gift tax laws may be remembered as the most generous to wealthy families since the Great Depression. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the federal estate, gift, and generation skipping...more

Dunlap Bennett & Ludwig PLLC

The Strategy Behind Spousal Lifetime Access Trusts (SLATS)

With continuing uncertainty regarding the federal estate tax laws, the Spousal Lifetime Access Trust (SLAT) is a popular option that helps high net-worth individuals maintain flexibility while maximizing their financial...more

DarrowEverett LLP

Estate Planning for Your Real Estate Business: Tips to Preserve Value

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Real estate business owners face unique challenges that many business owners in other industries do not experience. The real estate market climbs and falls, contractor fees and material costs rise with inflation, and high...more

Holland & Knight LLP

Maximize Your Legacy: Take Advantage of the High Estate and Gift Tax Exemption Sunset

Holland & Knight LLP on

As part of the Tax Cuts and Jobs Act (TCJA), the estate and gift tax exemption was doubled for tax years 2018-2025. In 2018, the exemption doubled from $5.49 million in 2017 to $11.18 million in 2018, and that amount has been...more

Chambliss, Bahner & Stophel, P.C.

A Way to Lock in the Current Estate Tax Exemption to Benefit Your Spouse

With the fate of the estate tax exemption uncertain, you may want to use the current large exemption to transfer assets to a trust to benefit your spouse. A spousal lifetime access trust (SLAT) can help transfer assets...more

McCarter & English Blog: Government Contracts...

This Will Only Hurt a Bit: The GSA Mandates COVID-19 Vaccines in Nearly All Existing Contract Types

The General Services Administration (GSA) released its Class Deviation CD-2021-13 (the GSA Deviation), which, effective immediately, “provides instructions for the GSA acquisition workforce on when to include a new clause...more

Saul Ewing LLP

Proposed Tax Changes Shorten the Window for Using the Current Gift and Estate Tax Exemption Before it Drops

Saul Ewing LLP on

In 2018 the gift and estate tax exemption was doubled from $5 million to $10 million (per person). The exemption is adjusted for inflation every year. In 2021 the exemption as adjusted for inflation is $11.7 million. The...more

Proskauer Rose LLP

Let the Estate Tax Planning Games Begin - But Where Will They Land - the House Ways and Committee Has Spoken

Proskauer Rose LLP on

“President Biden and Democrats in the Congress have been working on a $3.5 trillion spending and tax package, and the details are starting to be revealed. Indeed, on Sunday, September 12th, the House Ways and Means Committee...more

Polsinelli

Impact Of President Biden’s Tax Plan On Estate Planning

Polsinelli on

With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more

Mitchell, Williams, Selig, Gates & Woodyard,...

ILITs and the Reciprocal Trust Doctrine

Throughout 2020, as many tax attorneys and their clients continuously worried about potential changes in federal transfer tax laws that could result with an administration change, numerous articles were published and webinars...more

Ward and Smith, P.A.

The Exemption Also Rises (But Could Set Soon)

Ward and Smith, P.A. on

The amount that you can give to your children during life or leave to them after death estate tax-free currently is at a historically high level. As of January 1, 2021, an individual can give or leave $11.7 million and a...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – “SLATS” – Spousal Lifetime Access Trusts: A Way to Have Your Cake and Eat It, Too?

Farrell Fritz, P.C. on

You may have heard of Spousal Lifetime Access Trusts (“SLATS”) lately, especially if you have been thinking about using your federal estate and gift tax exemption before it goes down, whether sooner or later. In the estate...more

Rivkin Radler LLP

The Time to Plan for Tax Code Changes Is Now

Rivkin Radler LLP on

The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...more

Proskauer Rose LLP

Personal Planning Strategies - October 2020

Proskauer Rose LLP on

Top Ten Estate Planning Recommendations before the End of 2020 - If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before...more

McNees Wallace & Nurick LLC

Estate Planning and the Upcoming Elections

The upcoming federal elections are a reminder that estate plans should be reviewed frequently to make sure the plan carries out your wishes in a tax-efficient manner. You may want to revise your plan depending upon the...more

Seyfarth Shaw LLP

Estate Planning with 2020 Vision

Seyfarth Shaw LLP on

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

Ward and Smith, P.A.

Is it Time to "Use it or Lose it?"

Ward and Smith, P.A. on

In the wake of COVID-19, we may see significant statutory changes to the federal estate, gift, and generation-skipping transfer tax exemptions. Spousal Lifetime Access Trusts and other planning techniques provide...more

Harris Beach PLLC

Spousal Lifetime Access Trusts: What You Should Know

Harris Beach PLLC on

Spousal Lifetime Access Trusts, or “SLATs,” may be the ideal vehicle for clients interested in pursuing wealth-transfer tax planning. Before deciding whether SLATs may be right for you and your family, it’s important to...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - July/August 2019

Below is a brief glance of what you'll find in the July/August 2019 issue of The Estate Planner. SLATs offer an estate planning safety net - Can multiple trusts be used to maximize the pass-through deduction? -...more

Proskauer Rose LLP

The New Estate Tax Law – Here Today, Gone Tomorrow

Proskauer Rose LLP on

Increase in Exemption from Estate, Gift and Generation-Skipping Transfer Taxes - On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act implements a variety of significant tax reforms....more

McNees Wallace & Nurick LLC

Spousal Lifetime Access Trusts

In 2016, every U.S. citizen and non-citizen resident is able to shelter $5,450,000 from the federal estate tax. As a result, with minimal planning spouses can effectively shelter $10,900,000 from the federal estate tax....more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - Year End 2012

In This Issue: - The spousal lifetime access trust: A safety net in uncertain times - Be prepared for a triggering event: If you own interests in a closely held business, consider a buy-sell agreement - Is your...more

Adler Pollock & Sheehan P.C.

The spousal lifetime access trust: A safety net in uncertain times

There’s a lot of uncertainty about the future of the federal estate tax regime — in particular the $5.12 million federal gift and estate tax exemption set to expire. A spousal lifetime access trust (SLAT) can provide a...more

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