Certain revenue-raising proposals that would have affected the transfer tax regime and estate planning of high-net-worth individuals and trusts, which were included in the prior proposed bill in the House of Representatives,...more
11/3/2021
/ Asset Valuations ,
Estate Planning ,
Estate Tax ,
Federal Taxes ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Trusts ,
High Net-Worth ,
Income Taxes ,
Proposed Legislation ,
Surtax ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Trust Distributions
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
9/30/2021
/ Asset Valuations ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Federal Taxes ,
Generation-Skipping Transfer ,
Gift Tax ,
Gift-Tax Exemption ,
Grantor Trusts ,
High Net-Worth ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Tax Reform ,
Ways and Means Committee
As the 2020 United States election and the end of the year approach, you may wish to consider making changes to your estate plan and/or making gifts to transfer assets to younger generations now. ...more
9/30/2020
/ Capital Gains Tax ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Generation-Skipping Transfer ,
Gift Tax ,
Gift-Tax Exemption ,
High Net-Worth ,
Inheritance ,
IRS ,
Presidential Elections ,
Repeal ,
Tax Exemptions ,
Tax Planning ,
Year-End Planning ,
Year-End Tax Planning
The U.S. Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) suspends the Required Minimum Distribution rules for retirement plans for the 2020 calendar year. This Client Alert provides guidance for...more
The “Setting Every Community Up for Retirement Enhancement Act (“the SECURE Act”) changes the tax treatment of inherited IRAs: so-called “Stretch IRAs” are no longer available for a beneficiary’s lifespan. The SECURE Act...more