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Trusts Generation-Skipping Transfer

ArentFox Schiff

The Sunset of the Doubled Estate, Gift, and GST Tax Exclusion Amounts After December 31, 2025

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The TCJA doubled the lifetime exclusion and GST tax exemption. This exclusion amount, adjusted for inflation, is now $13.61 million and is expected to be approximately $13.99 million in 2025. However, in 2026, the amount will...more

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

Farella Braun + Martel LLP

[Event] Vines and Legacies: Secure Your Future Today - September 24th, St. Helena, CA

Thoughtful planning and careful implementation are essential to a successful estate plan that preserves wealth in the most tax-efficient manner and fulfills a family’s personal objectives....more

Robins Kaplan LLP

Estate Planning to Protect Generational Wealth Transfers: Lessons From The Gilded Age

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HBO’s The Gilded Age dramatizes the privileged lives of some of America’s wealthiest families in late 19th century New York City. In U.S. history, the Gilded Age covers the 1870s to the late 1890s. Rapid economic growth...more

Husch Blackwell LLP

Understanding the 2026 Changes to the Estate, Gift, and Generation-Skipping Tax Exemptions

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The Tax Cuts and Jobs Act of 2017 provided major changes to the Internal Revenue Code, specifically doubling the federal estate, gift, and generation-skipping transfer (GST) tax exemption (collectively, the exemption) from...more

McGuireWoods LLP

Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino

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Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift...more

Neal, Gerber & Eisenberg LLP

Client Alert: 2024 Inflation Adjustments That Impact Current Estate Planning Opportunities

The Internal Revenue Service recently announced increased transfer tax exclusions for calendar year 2024 as part of Revenue Procedure 2023-34. The significant increases in the unified credit against estate, gift and...more

Seyfarth Shaw LLP

Year-End Estate Planning for 2023

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A strong stock market and “soft landing” have generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer....more

Husch Blackwell LLP

Common Gift Tax Return Mistakes and Ways to Avoid Them

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Over the past few years, an unprecedented number of taxpayers have been taking advantage of the historically high estate, gift, and generation-skipping transfer tax (GST tax) exemptions—currently $12.92 million for 2023 or...more

Dechert LLP

Use It or (Potentially) Lose It: Inflation Hikes Provide Unprecedented Estate Planning Opportunities

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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

Katten Muchin Rosenman LLP

2022 Year-End Estate Planning Advisory

During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act (CTA), and the Inflation Reduction Act...more

McDermott Will & Emery

[Event] 2022 West Coast Forum - November 10th, Palo Alto, CA

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Join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At these complimentary programs, experienced McDermott partners will lead discussions on a broad range of topics pertinent to...more

McDermott Will & Emery

[Event] 2022 West Coast Forum - November 9th, San Francisco, CA

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Join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At these complimentary programs, experienced McDermott partners will lead discussions on a broad range of topics pertinent to...more

McDermott Will & Emery

[Event] 2022 West Coast Forum - November 8th, Beverly Hills, CA

McDermott Will & Emery on

Join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At these complimentary programs, experienced McDermott partners will lead discussions on a broad range of topics pertinent to...more

Lathrop GPM

Handle Your Estate Plan Like Royalty

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​​​​​​​The services following the death of Her Majesty Queen Elizabeth II might have many of us thinking about our own estate planning. One striking piece of information about Her Majesty was that she had planned out many...more

Blank Rome LLP

2022 California Estate and Tax Planning Newsletter

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Our annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2022 by our clients and friends in California. Perhaps the most important recent development was the failure...more

Winstead PC

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

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Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...more

Greenberg Glusker LLP

House Ways and Means Advances Draft Tax Legislation with Dramatic Impact on Estate, Gift and Trust Taxation

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Last week, the House Ways and Means Committee released, and advanced out of committee, draft tax legislation intended to form a part of the Democratic budget reconciliation bill.  At almost 900 pages in length, this draft...more

Winstead PC

Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on

On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process. The legislation, as approved by the...more

Pillsbury Winthrop Shaw Pittman LLP

Potential Tax Law Overhauls in 2021: Summary and Planning Recommendations

Advance planning in light of the proposed tax law changes included in the For the 99.5 Percent Act, STEP Act and the Biden Administration’s Green Book. Proposed tax law changes introduced this year provide valuable insight...more

Chambliss, Bahner & Stophel, P.C.

Tennessee Further Solidifies Itself as a Top State for Trusts

For years, we have known that Tennessee has one of the most robust trust codes in the country. While this is surprisingly not one of the main topics at dinner tables nationwide, more than just Tennessee residents can share...more

Davis Wright Tremaine LLP

No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond

The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential...more

Winstead PC

Estate Planning Ramifications of a Democratic Sweep

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On January 5, 2021, Georgia Democrats Jon Ossoff and Raphael Warnock defeated GOP incumbents David Perdue and Kelly Loeffler in their Senate runoff elections, giving the Democrats 50 seats in the Senate. Vice President Kamala...more

Katten Muchin Rosenman LLP

2020 Year-End Estate Planning Advisory

In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more

Farella Braun + Martel LLP

Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions

- Annual inflation-indexing continues to increase the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer taxes. Those of considerable wealth who have not yet made gifts, such as...more

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