September 2024 AFRs and 7520 Rate -
The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September...more
9/13/2024
/ AFR ,
American Bar Association (ABA) ,
Beneficiaries ,
Decanting ,
Declaratory Relief ,
Due Process ,
Estate Planning ,
Ethics ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Loper Bright Enterprises v Raimondo ,
Noncompliance ,
Probate ,
Proposed Regulation ,
Retirement ,
Settlement ,
Statutory Requirements ,
Unclean Hands ,
Uniform Trust Code ,
Wealth Management
The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more
9/6/2024
/ Administrative Procedure Act ,
AFR ,
Beneficiaries ,
Chevron Deference ,
Compliance ,
Confidentiality Policies ,
Connecticut ,
Decanting ,
Declaratory Relief ,
Delaware ,
Due Process ,
Estate Planning ,
Federal Taxes ,
Florida ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
IRS ,
Long Arm Statute ,
Loper Bright Enterprises v Raimondo ,
Probate ,
Proposed Regulation ,
Settlement Agreements ,
Trustees ,
Trusts ,
Uniform Trust Code ,
Vesting ,
Wealth Management
June 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The June Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs...more
6/12/2024
/ Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Proposed Regulation ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Split-Interest Charitable Trusts ,
Tax Exemptions ,
Wealth Management
On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (the “CTA”) is unconstitutional, leaving its future uncertain. The CTA requires...more
On January 12, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs in response to questions received regarding compliance with various aspects of the Corporate...more
On December 21, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final rule on Beneficial Ownership Information Access and Safeguards (the “Access Rule”) laying out the...more
1/10/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Confidentiality Agreements ,
Corporate Transparency Act ,
Financial Institutions ,
FinCEN ,
National Security ,
Penalties ,
Popular ,
Regulatory Violations ,
Reporting Requirements ,
SRO ,
U.S. Treasury
January 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The January applicable federal rate (“AFR”) for use with a sale to a defective grantor...more
In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...more
12/29/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
FinCEN ,
Foreign Corporations ,
Full-Time Employees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Parent Corporation ,
REIT ,
Reporting Requirements ,
U.S. Treasury
Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting -
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more
12/12/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Commodity Trading Advisors (CTAs) ,
Corporate Transparency Act ,
Due Diligence ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Grantor Retained Annuity Trusts (GRATs) ,
Investment Adviser ,
Investment Companies ,
Law Enforcement ,
National Security ,
NDAA ,
Ownership Interest ,
Penalties ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Smaller Reporting Companies ,
Venture Capital ,
Wealth Management
Today, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule aimed to ease compliance with certain aspects of the regulations promulgated under the Corporate Transparency Act. The...more
November 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, CLTs,...more
11/14/2023
/ AFR ,
Beneficiaries ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
Marital Trusts ,
Revocable Trusts ,
Special Needs Trust ,
Split-Interest Charitable Trusts ,
Wealth Management
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 Relief Act of 2012 (the “2012 Act”). In...more
11/6/2023
/ American Taxpayer Relief Act of 2012 (ATRA) ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Individual Retirement Account (IRA) ,
Inflation Adjustments ,
Required Minimum Distributions ,
Revocable Trusts ,
SECURE Act ,
Tax Cuts and Jobs Act ,
Tax Exemptions
In 2021, the U.S. enacted the Corporate Transparency Act (the “CTA”) as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury’s Financial...more
September 2023 AFRs and 7520 Rate -
The September 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, which was the same as the August 2023 rate...more
9/13/2023
/ Beneficiaries ,
Estate Planning ,
Estate-Tax Exemption ,
Gift-Tax Exemption ,
Grantor Retained Annuity Trusts (GRATs) ,
Individual Retirement Account (IRA) ,
Inflation Adjustments ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Lending ,
SECURE Act ,
Wills
The August 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, an increase from the July 2023 rate of 4.6%. The August applicable federal rate (“AFR”) for use with a sale...more
8/3/2023
/ Affirmative Defenses ,
AFR ,
Charitable Deductions ,
Donor-Advised Funds (DAFs) ,
Easements ,
Estate Planning ,
Fraud ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Income Taxes ,
Intra-Family Loans ,
Penalties ,
Trustees ,
Wealth Management
June 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The June Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs...more
6/6/2023
/ Audits ,
Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
IRS ,
S-Corporation ,
Split-Interest Charitable Trusts ,
Wealth Management
May 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The May Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs and...more
April Interest Rates for GRATS, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
4/26/2023
/ AFR ,
Bittner v United States ,
FBAR ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Green Book ,
Intra-Family Loans ,
Long-Term Investment Funds ,
Price Inflation ,
SCOTUS ,
Short-Term Investments ,
Split-Interest Charitable Trusts ,
Transfer Taxes ,
Trusts ,
U.S. Treasury ,
Valuation
The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.0%. The April applicable federal rate (“AFR”) for use with a sale to a defective grantor trust or intra-family loan...more
4/12/2023
/ AFR ,
Estate Tax ,
FBAR ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
GST ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Life Insurance ,
Living Trust ,
Split-Interest Charitable Trusts ,
Transfer Taxes ,
Trustees ,
U.S. Treasury ,
Wealth Management
March 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The March applicable federal rate (“AFR”) for use with a sale to a defective grantor trust,...more
February 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The February applicable federal rate (“AFR”) for use with a sale to a defective grantor...more
2/6/2023
/ AFR ,
Appeals ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Intra-Family Loans ,
IRS ,
Qualified Charitable Distributions ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Settlement Agreements ,
Split-Interest Charitable Trusts ,
Wealth Management
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed the CTA to...more
1/18/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
CFTC ,
Corporate Transparency Act ,
Corruption ,
FinCEN ,
Investment ,
Investment Adviser ,
National Intelligence Agencies ,
National Security ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Tax Evasion ,
Venture Capital
December 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Federal interest rates increased quite significantly for December of 2022...more
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 Relief Act of 2012 (the “2012 Act”). In...more
October 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The October applicable federal rate ("AFR") for use with a sale to a defective grantor...more
9/29/2022
/ Affirmative Defenses ,
AFR ,
Beneficiaries ,
Estate Tax ,
Florida ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Inflation Adjustments ,
Interest Rates ,
Intra-Family Loans ,
Investment ,
Marital Estate ,
Mineral Rights ,
Noncharitable Purpose Trusts ,
Promissory Notes ,
Securities Exchange Act of 1934 ,
Stocks ,
Tax Exemptions ,
Trustees ,
Wealth Management