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Trusts Gift-Tax Exemption

Adler Pollock & Sheehan P.C.

Is Your Estate Plan Ready for Future Estate Tax Law Changes?

The year 2017, when the Tax Cuts and Jobs Act was signed into law, seems like a long time ago. As you may be aware, many of the tax provisions of that law are set to expire in a relatively short amount of time — on January 1,...more

Husch Blackwell LLP

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

Husch Blackwell LLP on

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

McGuireWoods LLP on

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

ArentFox Schiff

What Private Companies Need To Consider in 2024: Top 10 Legal Issues

ArentFox Schiff on

Private companies and their owners face ever-evolving challenges as the market sees new regulations, new deal trends, and new risks in 2024. Below are 10 issues that the owners and leaders of privately held companies should...more

Rivkin Radler LLP

Spousal Lifetime Access Trusts: A Way to Have Your Cake and Eat It Too

Rivkin Radler LLP 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 the current higher exemption amount of $13.61 million is...more

Burns & Levinson LLP

Is 2024 the Year of Gifting? Different Ways to Gift to Minimize Estate Taxes

Burns & Levinson LLP on

Gifting assets during life allows individuals to minimize their estate tax liabilities at death. Gifting is a strategy that can preserve wealth for future generations by minimizing estate taxes....more

Beacon Insights by JD Supra

The Year in Estate Planning – 2022 Popular Reads on JD Supra

A look at some of the most widely read estate planning updates and guidance published on JD Supra during 2022....more

Dechert LLP

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

Dechert LLP on

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

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

Estate Planning Techniques in a Higher Interest Rate Environment

One can hardly miss the high levels of inflation currently affecting our economy. Even for those who do not pay close attention to the news, where inflation could hardly be more covered, the price of nearly everything for...more

Rivkin Radler LLP

Besides Saving Estate Taxes, What Should Be on Your Estate Planning Checklist?

Rivkin Radler LLP on

The federal estate tax exemption provisions are set to expire at the end of 2025, potentially requiring more people to pay estate taxes. In view of the uncertainty of the estate tax laws, it is important to have estate...more

Stark & Stark

The Annual Exclusion for Gift Taxes has Increased to $16,000 - What Issues Should I Consider?

Stark & Stark on

In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before...more

Blank Rome LLP

2022 California Estate and Tax Planning Newsletter

Blank Rome LLP on

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

Davis Wright Tremaine LLP

Proposed Federal Tax Law Changes Affecting Estate Planning

The House Ways and Means Committee recently released its plan to pay for President Biden's proposed Build Back Better Act. Many of the changes to the Internal Revenue Code proposed by that plan would directly impact gift and...more

Winstead PC

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

Winstead PC on

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

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

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

Cohen Seglias Pallas Greenhall & Furman PC

To Give or Not to Give: Considerations for Year-End Gifting

Presented by Cohen Seglias attorney Whitney Patience O'Reilly on December 15, 2020. As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any...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

Williams Mullen

Estate Planning Adjustments for Tax Year 2020

Williams Mullen on

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation.  Recently, the IRS...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2019

Do you know the differences in estate tax law for couples when both spouses are U.S. citizens vs. when one spouse is a non-U.S. citizen? Or what nonlegal document should accompany a will? We are pleased to present the...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - April/May 2019: A Crummey trust may sound pretty good

The Tax Cuts and Jobs Act (TCJA) has reduced estate tax concerns for many families, but estate tax liability remains a concern for some. Notably, one may implement strategies in the wake of the TCJA that are designed to...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall - You haven’t transferred ownership of a life insurance policy to a trust

After recent tax legislation, including the Tax Cuts and Jobs Act, few tax shelters are left standing. One key exception is life insurance. This brief article details that, if certain requirements are met, the buildup of...more

Katten Muchin Rosenman LLP

The Tax Cuts and Jobs Act: Gift, Estate and Generation-Skipping Transfer Tax Reform

The Tax Cuts and Jobs Act (Act), passed at the end of 2017 by Congress and signed into law by President Trump on December 22, 2017, provides far-reaching changes to the federal tax landscape. Much has been written regarding...more

Burns & Levinson LLP

The 2017 Tax Act Doesn't "Simplify" Planning for Estates and Gifts Things to Consider or Reconsider As You Look at Your Estate

Burns & Levinson LLP on

On December 22, 2017, the President signed a major change to federal tax law that contains many provisions affecting individuals, estates, and trusts. While the impetus behind the change was simplification, as some unnamed...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

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