As a result of the Federal Reserve Bank's recent stimulus and interest rate decreases in response to the coronavirus, intra-family loans can be used to transfer wealth to future generations with no gift tax consequences as...more
3/19/2020
/ Coronavirus/COVID-19 ,
Estate Planning ,
Exclusions ,
Exemptions ,
Federal Reserve ,
Financial Stimulus ,
Gift Tax ,
Gift-Tax Return ,
Interest Rates ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
Tax Exemptions ,
Wealth Management
March 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Important federal interest rates continue to hold relatively steady. The March Section 7520...more
3/10/2020
/ AFR ,
Beneficiaries ,
Charitable Deductions ,
Charitable Trusts ,
Diversity Jurisdiction ,
Estate Planning ,
Estate Tax ,
Fiduciary Duty ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Surrogate's Court ,
Tax Court ,
Trust Distributions ,
Wealth Management
Creating a grantor retained annuity trust (commonly referred to as a "GRAT") is a relatively simple way to transfer property to your children at virtually no gift tax cost. The recent decrease in the market poses an...more
February 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The February Section 7520 rate for use with estate planning techniques such as CRTs,...more
2/3/2020
/ AFR ,
Charitable Trusts ,
Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Inheritance ,
Interest Rates ,
Intra-Family Loans ,
Probate Code ,
Retirement Plan ,
SECURE Act ,
Surviving Spouse ,
Trust Distributions ,
Wealth Management
December 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The December Section 7520 rate for use with estate planning techniques such as CRTs,...more
12/3/2019
/ Child Support ,
Estate Planning ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
IRS ,
Life Insurance ,
SD Supreme Court ,
Tax Court ,
Wealth Management
Estate, Gift and GST Tax Update -
What This Means for Your Current Will, Revocable Trust and Estate Plan -
The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer...more
11/27/2019
/ American Taxpayer Relief Act of 2012 (ATRA) ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Pass-Through Entities ,
Proposed Regulation ,
Retirement Plan ,
Surviving Spouse ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning ,
Uniform Trust Code
November 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The November Section 7520 rate for use with estate planning techniques such as CRTs,...more
11/4/2019
/ Divorce ,
Estate Planning ,
Fair Market Value ,
Grantor Retained Annuity Trusts (GRATs) ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
Marital Assets ,
Mergers ,
Prenuptial Agreements ,
Publicly-Traded Companies ,
Tax Court ,
Wealth Management
October 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The October Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more
9/30/2019
/ 401k ,
Cause of Action Accrual ,
Corporate Taxes ,
Digital Assets ,
Estate Planning ,
Estate Tax ,
Fraudulent Concealment ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
IRS ,
Revocable Trusts ,
Subject Matter Jurisdiction ,
Surrogate's Court ,
Tortious Interference ,
Unjust Enrichment ,
Wealth Management
September 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The September Section 7520 rate for use with estate planning techniques such as CRTs,...more
9/9/2019
/ AFR ,
Beneficiaries ,
Estate Planning ,
Estate Tax ,
Fiduciary Duty ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
IRS ,
MA Supreme Judicial Court ,
Trusts ,
Uniform Trust Code ,
Wealth Management
August 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs -
Important federal interest rates continued to drop for August 2019. The August...more
8/12/2019
/ AFR ,
Alimony ,
Annuities ,
Bankruptcy Court ,
Beneficiaries ,
Divorce ,
Estate Planning ,
Estate Tax ,
Federal Trade Commission (FTC) ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Lump Sum Payments ,
Trustees ,
Wealth Management
Supreme Court Ruling in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, 588 U.S. [TBD] and its Relevance to Income Taxation of Accumulated Income in California Trusts -
The Supreme Court...more
7/5/2019
/ Beneficiaries ,
Domestic Asset Protection Trust (DAPT) ,
Due Process ,
Estate Tax ,
Exclusive Control ,
Forum State ,
In-State Beneficiaries ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Life Insurance ,
Minimum Contacts ,
North Carolina Department of Revenue v The Kimberley Rice Kaestner 1992 Family Trust ,
SCOTUS ,
State Taxes ,
Trust Distributions ,
Trustees ,
Trusts ,
Uniform Trust Code
April Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The April § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
4/12/2019
/ Arms Length Transactions ,
Estate Planning ,
Governor Cuomo ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Probate ,
State Budgets ,
Trusts ,
Wealth Management ,
Wills
December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Important federal interest rates continue to rise. The December applicable federal rate...more
12/12/2018
/ AFR ,
Divorce ,
Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
IRS ,
Life Insurance ,
Priority Guidance Plan ,
Private Letter Rulings ,
QTIP Trusts ,
U.S. Treasury ,
Wealth Management
Estate, Gift and GST Tax Update -
What This Means for Your Current Will, Revocable Trust and Estate Plan -
The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer...more
11/29/2018
/ Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
Individual Retirement Account (IRA) ,
IRS ,
Proposed Regulation ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Planning ,
U.S. Treasury
October Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The October § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
10/9/2018
/ Anti-Abuse Rule ,
Charitable Trusts ,
Estate Planning ,
Estate Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Life Insurance ,
Surviving Spouse ,
Tax Cuts and Jobs Act ,
Trust Distributions ,
Wealth Management
With over a century of combined experience, the lawyers of Proskauer's Private Client Services Department regularly provide their diverse clientele – from business entrepreneurs and corporate executives to sports figures and...more
9/10/2018
/ 501(c)(3) ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
IRS ,
Private Foundations ,
Self-Dealing ,
Strategic Planning ,
Succession Planning ,
Tax Planning ,
Trump Administration
July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-family Loans and Split Interest Charitable Trusts (Rev. Rul. 2018-16) -
The July § 7520 rate for use with estate planning techniques such as CRTs,...more
7/6/2018
/ Alimony ,
Estate Planning ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Intentionally Defective Grantor Trusts ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
Marriage ,
Self-Canceling Installment Note ,
Surviving Spouse ,
Taxable Distributions ,
Trust Protector Actions ,
Trustees
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 GRATs...more
6/4/2018
/ Beneficiaries ,
Estate Tax ,
Grandfathered Status ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
GST ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Safe Harbors ,
Trusts ,
Wealth Management
May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is...more
5/3/2018
/ AK Supreme Court ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Foreign Sales ,
Fraudulent Transfers ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
GST ,
Individual Retirement Account (IRA) ,
Interest Rates ,
Nongrantor Trusts ,
OVDP ,
Voluntary Disclosure ,
Wealth Management
March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
3/12/2018
/ AFR ,
Charitable Deductions ,
Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
Itemized Deductions ,
Life Insurance ,
Limited Liability Company (LLC) ,
SALT ,
Section 162(f) ,
Section 162(m) ,
Self-Canceling Installment Note ,
Tax Cuts and Jobs Act ,
Wealth Management
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
2/26/2018
/ Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Generation-Skipping Transfer ,
Gift Tax ,
Gift-Tax Exemption ,
Income Taxes ,
Life Insurance ,
Marital Trusts ,
QTIP Trusts ,
Qualified Domestic Trust (QDOT) ,
SLAT ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Wills
December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more
12/19/2017
/ Alternative Minimum Tax ,
Charitable Trusts ,
Corporate Taxes ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Income Taxes ,
Interest Rates ,
IRS ,
Self-Dealing ,
Tax Deductions ,
Tax Reform ,
Wealth Management
2018 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan -
As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more
11/22/2017
/ Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Gift-Tax Exemption ,
Individual Retirement Account (IRA) ,
Proposed Legislation ,
Required Minimum Distributions ,
Strategic Planning ,
Tax Exemptions ,
Tax Planning ,
Trustees ,
Wills
September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
9/6/2017
/ Charitable Donations ,
Estate Tax ,
Executive Orders ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
GST ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Split-Interest Charitable Trusts ,
Statute of Limitations ,
Tax Exemptions ,
Tax Liens ,
Trump Administration ,
U.S. Treasury ,
Wealth Management
August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
8/2/2017
/ Administrative Law Judge (ALJ) ,
Electronic Records ,
Estate Planning ,
Estate Tax ,
Fiduciary Duty ,
Gift Tax ,
Governor Carney ,
Governor Scott ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Residency Status ,
Split-Interest Charitable Trusts ,
State Taxes ,
Sunset Provisions ,
Wealth Management ,
Wills