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Tax Wills, Trusts, & Estate Planning

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

Federal Estate & Gift Tax Reform - What We Know Now

by Tonkon Torp LLP on

We now know that each individual has a $10 million estate tax exclusion (adjusted for inflation) under the new federal estate tax legislation (the Tax Cuts and Jobs Act). In 2018, the applicable exclusion amount will be...more

Wealth Transfer Tax Planning Implications of the 2017 Tax Act

by Williams Mullen on

On December 22, 2017, President Trump signed Public Law No. 115-97, formerly known as the Tax Cut and Jobs Act of 2017[1], into law (the “2017 Tax Act”). Increase of Gift, Estate, and GST Exclusions and Exemptions in 2018...more

Nate Smithson Provides an Update on Tax Reform

by Jackson Walker on

Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform which reflects the senate’s newly-proposed tax bill. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax...more

CPA Shoptalk: 8 Takeaways

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

2018 Key Trust & Estate Planning and Corporate Ownership Implications of the New Tax Law

by Perkins Coie on

With the passage of Public Law no. 115-97, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act), attorneys in Perkins Coie’s Trust & Estate Planning practice, along with our clients running closely...more

Estate Planning Implications of the Tax Cuts and Jobs Act

by Winstead PC on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law, ushering in some of the most sweeping changes to the Internal Revenue Code in over 30 years. While the Act substantially revises the...more

Three Key Aspects of the New Tax Law

The new tax law is lengthy and full of complex provisions. This article highlights three key aspects of the tax reform and how they may affect you. 1. The individual income tax rates have decreased and standard deduction...more

The Impact of the Tax Cuts and Jobs Act

The Tax Cut and Jobs Act (the “Act”) was signed into law on December 20, 2017, with an effective date of January 1, 2018. Among other things, the Act favorably amended the federal estate, gift, and generation skipping...more

Trump Administration Signs 2017 Tax Act

by Davis Wright Tremaine LLP on

On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more

The Times They Are A–Changin’: Estate and Gift Tax Exemption Amount Doubles

In this world, things change, and clients need to adapt to those changes. A major change in gift and estate tax law has occurred and clients need to take notice, and adapt their estate plans accordingly....more

Tax Reform: Sweeping Changes To Federal Tax Law And The Impact On Businesses And Individuals

by Akerman LLP on

On December 22, 2017, President Trump signed into law what is commonly referred to as the "Tax Cuts and Jobs Act" (the "Act"). The Act makes significant changes to the Internal Revenue Code (the "Code") and affects a broad...more

Transfer Tax Considerations Under the Tax Cuts and Jobs Act

by Holland & Knight LLP on

• The U.S. House of Representatives and Senate ushered H.R. 1, the Tax Cuts and Jobs Act (the Act), through conference committee, and President Donald Trump signed the Act into law on Dec. 22, 2017. • Most of the Act's...more

PA Requires Oil and Gas Lessees to Withhold State Income Taxes from Nonresident Lessors

by Steptoe & Johnson PLLC on

Under Act 43 of 2017 beginning January 1, 2018, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity that has a non-resident member, and is...more

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

by 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

Estate and Gift Planning Under the New Tax Law

by Stoel Rives LLP on

The Tax Cuts and Jobs Act of 2018 went into effect on January 1, 2018. The new law makes some changes to key estate planning-related provisions. Except as otherwise noted, these changes are effective now and will sunset at...more

The Federal Estate Tax Lives On, But “Where, O death, Is Your Sting?” (*)

by Farrell Fritz, P.C. on

When the Tax Cuts and Jobs Act was introduced on November 2, 2017, perhaps the single most important issue on the minds of many closely held business owners was the future of the estate tax: was it going to be repealed as had...more

Ron Aucutt’s “Top Ten” Estate Planning and Estate Tax Developments of 2017

by McGuireWoods LLP on

In an annual tradition, Ronald Aucutt, a McGuireWoods partner and chair emeritus of the firm’s private wealth services group, with help from his McGuireWoods colleagues, has identified the following as the top ten estate...more

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Private Wealth Newsletter - Significant Changes to Estate, Gift, and Generation-Skipping Transfer Taxes

The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more

What You Should Know About Estate and Gift Tax Reform

by Stinson Leonard Street on

The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially curtails its reach. The new tax legislation represents a dramatic change to our transfer tax...more

New Internal Revenue Code Section 199A: The 20% Deduction for “Pass-Thru” Businesses

by McNair Law Firm, P.A. on

Aside from corporate tax reductions, one of the most important aspects of the new Tax Cuts and Jobs Act beginning this year is the new 20% deduction for “pass-thru” businesses – i.e. businesses that are not corporations. With...more

Changes to Federal Estate, Gift, and Generation-Skipping Transfer Tax Laws

by K&L Gates LLP on

President Trump signed the Tax Cuts and Jobs Act (the “Act”) on December 22, 2017, implementing a new law that affects many taxpayers. This Alert addresses some of the changes to the federal estate, gift, and...more

Impact on Gift, Estate, and GST Taxes Under the Tax Cuts and Jobs Act (H.R. 1)

by Ballard Spahr LLP on

The tax law known as the Tax Cuts and Jobs Act (H.R. 1), signed by President Trump on December 22, 2017, contains important changes to provisions governing gift, estate, and generation-skipping transfer (GST) taxes...more

New tax law’s doubling of estate tax exemption compels a review of your estate plan

by Thompson Coburn LLP on

On December 22, 2017, President Trump signed into law what is commonly known as the Tax Cuts and Jobs Act — perhaps a holiday gift for some or a lump of coal for others. Much of the political and journalistic debate about...more

Effect of the Tax Cuts and Jobs Act on Trust and Estate Planning

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more

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