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Tax Wills, Trusts, & Estate Planning

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

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important issue on the minds of many closely held business owners was the future of the estate tax: was it going to be repealed as had...more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

Impact of the Tax Law on Estate Planning

President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018....more

TAX REFORM: Federal Gift, Estate and Generation-Skipping Transfer Taxes - No Permanent Repeal, but Double Exemptions Create...

by Dechert LLP on

On December 22, 2017, President Trump signed into law new tax legislation (the “2017 Tax Bill”). The 2017 Tax Bill makes sweeping changes to the U.S. tax code, including a reduction in corporate tax rates, significant changes...more

Estate Planning Resolutions for 2018

by Ward and Smith, P.A. on

Another holiday season will have come and gone before we know it. For many, the start of 2018 will be a time of empty commitment to self-improvement because meaningful New Year's resolutions are frequently made but rarely...more

Changes To Estate And Gift Taxes In The New Tax Law

by Fox Rothschild LLP on

Estate and gift tax planning are among the many areas of tax law impacted by the Tax Cuts and Jobs Act, which takes effect on January 1, 2018. Federal Tax Law Changes- Through December 31, 2017, each person had an...more

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Historic Estate Planning Opportunities from Tax Reform

The Tax Cuts and Jobs Act, providing extraordinary estate planning opportunities, was signed into law by the President on December 22, 2017. The new Act allows for a great opportunity to take advantage of increased...more

IRS Issues Taxpayer Advisory on Prepayment of 2018 Property Taxes

by Proskauer - Tax Talks on

The IRS announced yesterday, in IR 2017-210 (the “Advisory”), that state property taxes must be “assessed” in 2017 in order for such taxes to be prepaid in calendar year 2017 and therefore deductible in 2017. The Advisory...more

Tax Cuts and Jobs Act Ushers in Big Changes to the Estate and Gift Tax

by Hodgson Russ LLP on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. The new law will have a substantial impact on current estate plans and planning moving forward. Significantly, however, there will be...more

Tax Reform Advisory:  Exempt Organizations

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States tax regimes for exempt organizations, businesses in which...more

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