Trusts Estate Tax

News & Analysis as of

Wealth Management Update - June 2015

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

The basics of basis: Basis planning can result in significant tax savings

Because the gift and estate tax exemption is at a record high of $5.43 million for 2015, many people have shifted their focus from estate planning to income tax planning. An understanding of basis — and the benefits of the...more

The Estate Planner – July/August 2015

In This Issue: - Can a Broken Trust be Fixed? - Keep it in the Family: Use an intrafamily loan to cover estate taxes - Tax Court: Trust Can Materially Participate in a Business - Estate Planning...more

Tax Law Blog: Legislature Passes Bill Affecting Iowa Trusts and Estates

The Iowa Legislature just passed House File 661, which was proposed by the Probate and Trust Law Section of the Iowa State Bar Association and supported by the Iowa Academy of Trusts and Estates Lawyers. ...more

Trust Matters Update - May 2015

The Trust Matters Update is a periodical summary of cases, case comments, consultations, publications, legislative developments, legal updates, articles and news in the area of trust law and related issues. 1. Can...more

Benefits of an Irrevocable Life Insurance Trust as Security for Support

Divorce or separation agreements often require one spouse to maintain life insurance as security for their support obligation. Attorneys often do not address the tax implications if the insured spouse owns the policy. ...more

Now’s the time for a charitable lead trust

Affluent families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust (CLT). These trusts are most effective in a low-interest-rate environment, so conditions for taking...more

Wills, Trusts and Estates Newsletter - August 2014

In This Issue: - Thinking of Moving to Florida? Maybe a Little Further South is a Better Option - New Investment Thinking for Trustees? - Excerpt from New Investment Thinking for...more

Income Tax Reporting for Decanting

Decanting refers to the distribution of trust property of one trust (the “first trust”) to another trust (the “second trust”). Over the past several years, the number of states specifically authorizing decanting by statute...more

Wills, Trusts and Estates Newsletter - May 2014

In This Issue: - A Contrarian View on Bypass Trusts - Getting More Out of Trusts: The Total Return Unitrust - Estate Planning for Your Eighteen Year Old: What You Need to Do Now May Surprise You -...more

Filing Obligations for Trusts in France: Annual Filing Deadline One Month From Today on 15 June

The annual filing imposed on trustees must be submitted by 15 June on new, dedicated forms published by the French tax authorities, and in the French language. ...more

"The Estate Planner" – May/June 2014

In this issue: - Valuing LLC Interests: How To Lose In Tax Court - Should You Keep Your Trust A Secret? - Effort – A “Stretch IRA” Can Maximize Your IRA’s Benefits - Estate Planning Red Flag – You...more

New 252 Percent Estate Tax Bracket and Other Tax Changes Affect Wealthy New Yorkers

The revenue portion of the recently passed Executive Budget for 2014–2015 significantly changes New York’s estate tax and the way in which New York taxes the income of certain trusts. ...more

New York’s New Changes to Estate, GST and Income Tax Laws

New York has recently passed new laws that significantly reform its current estate, generation-skipping transfer (GST) tax and income tax scheme. This Private Client Group Client Alert provides a brief overview of New York’s...more

New York State Legislation Alert: April 2014

New York’s recently passed legislation, effective April 1, 2014, significantly changes its estate tax regime and income tax regime for certain trusts. This Alert discusses the implications of this legislation....more

New York Estate and Trust Tax Changes: the Good, the Bad and the Ugly

As we noted in our recent client alert, New York Governor Andrew Cuomo announced in January that he would introduce legislation intended to reduce the estate tax incentive for New Yorkers to move out of the state shortly...more

Significant Changes to New York Estate and Income Tax Enacted

We previously alerted you to proposed legislation affecting New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. This month Governor Cuomo signed final...more

Trusts and Estates Planning Opportunities Arising From Recent Changes to the New York Estate Tax and Trust Income Tax Regimes

On April 1, 2014, the New York state 2014–2015 budget (the "Budget") became effective. The Budget includes legislation (the "Budget Legislation") that makes several significant changes to New York's estate tax regime and to...more

Important Changes Proposed to New York Estate Tax and New York Income Taxation of Trusts, Grantors and Beneficiaries

Important legislation has been introduced by New York Governor Andrew Cuomo that, if passed, would substantially change the New York estate tax regime and would also significantly change the income tax rules regarding certain...more

Action Needed by March 31, 2014 to Avoid Proposed Changes to New York Estate Taxes and Trust Income Taxes

If Governor Cuomo’s proposals are enacted, New Yorkers and non-residents with property located in New York may be facing new taxes this April Fools’ Day. - New York Estate Tax First, the good news — under the...more

Significant Changes Proposed to New York Estate and Income Tax Laws

The New York State Legislature is considering some significant proposed changes to the New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. Some important...more

Anti-Huber Planning

Asset protection trusts promise their settlors the best of many worlds. They allow a grantor to give away assets to a trust and remove them (and any future appreciation in the trust assets) from their taxable estate. However,...more

5 Estate Planning Mistakes You Should Try to Avoid

In your experience, what’s the most costly mistake people make when preparing estate plans, and what can they do to fix them? That’s the question we recently put to attorneys writing on JD Supra....more

Insight on Estate Planning - February/March 2014

In This Issue: - The BDIT: A trust with a twist - Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education - Power of attorney abuse: What can you do...more

Here Is What Is Happening In Pennsylvania’s Legislature Regarding Trusts And Estates

Bill Ries has prepared a status report for the Pennsylvania Legislature’s current Trust & Estate matters. These tables summarize a number of bills that affect decedents’ estates laws and were introduced in the 2013-14...more

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