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Investment Management Roundtable Discussion – Personal Estate Planning
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Podcast - New Unrelated Business Taxable Income Liability for Providing Certain Fringe Benefits
Episode 26: Talking Tax Reform and Executive Comp
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New York Estate Tax Law Changes
There are more estate planning opportunities as a result of inflation-adjusted figures recently released by the IRS. The gift, estate, and generation-skipping transfer (“GST”) tax exemption amounts are each increasing to...more
A critical estate planning decision is whether to transfer wealth during your lifetime or keep your assets in your estate and transfer your wealth to loved ones after your death. Some say it would be wise to make gifts now to...more
Even if your 2022 New Year's resolutions have long since gone by the wayside, as most have, now can and should be a time of renewed focus on family and self-betterment. In the midst of economic uncertainty, geopolitical...more
The Internal Revenue Service has announced that the annual gift tax exclusion is increasing next year due to inflation. After four years of being at $15,000, the exclusion will be $16,000 per recipient for 2022—the highest...more
The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for high net worth individuals if enacted. Gift, estate and GST exemption amounts would be decreased; grantor trusts would...more
House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more
The holiday season is a time of giving! With Christmas arriving next week, you might be rushing to find last minute gifts for the special people in your life. Have you considered potential tax consequences of those gifts? ...more
The 2020 election is less than a month away and year-end estate planning is already underway for many. Under current law, the estate, gift and GST (generation-skipping transfer) tax exemptions for 2020 are set at $11,580,000...more
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
In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more
You may have heard by now that the Gift and Estate Tax exemption amount was increased by the Tax Cuts and Jobs Act of 2017, which became effective on January 1, 2018. This article is to highlight some of the key estate...more
As a general rule, it is advisable to revisit your estate plan every few years, or if some major change occurs in your personal circumstances or in applicable law. Recent historic changes to the tax law warrant revisiting...more
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
Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more
Congress's recent increase in the federal estate, gift, and generation-skipping transfer ("GST") tax exemption to $10 million per person adjusted annually for inflation ($11.18 million in 2018) is a welcome sweetener for many...more
Individuals and businesses continue to evaluate the Tax Cuts and Jobs Act of 2017 (the “Tax Act” or “Act”) and, in particular, the specific effects on personal and business tax planning. Our clients are asking us daily how...more
I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more
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
Tax Act of 2017: Transfer Tax Provisions - The Tax Cuts and Jobs Act of 2017 (the “Tax Act of 2017”) was signed by the President on December 22, 2017. The transfer tax provisions of the Tax Act of 2017 (i.e. the estate,...more
The Tax Cuts and Jobs Act (the “Act”), signed into law on December 22, 2017, significantly increased the exemption amounts for the federal estate, gift, and generation-skipping transfer taxes. These increases may present...more
This client alert is part of a special series on the Tax Cuts and Jobs Act and related changes to the tax code, where Blank Rome’s lawyers share their analysis of different provisions in the Act and how they may affect you...more
For the first time in more than 30 years, the countdown to the New Year was also the countdown to major revisions to the tax code. The Tax Cuts and Jobs Act (Act) became law in late December 2017 and contains sweeping changes...more
With the passage of Public Law no. 115-97, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act), attorneys in Perkins Coie’s Trust & Estate Planning practice, along with our clients running closely...more
On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more
The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more