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Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: North Carolina Updates

Remote Electronic Notary Act - As discussed in last year's advisory, the North Carolina Remote Electronic Notary Act (referred to as RENA or the Act) was enacted on July 8, 2022. This Act permanently codified remote...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Texas Updates

It has been a quiet year in Texas on the Private Wealth front as the Texas State Legislature enjoyed its biennial recess. Nevertheless, Texas' increasingly business-friendly environment saw some activity with its special new...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Florida Updates

Several legislative proposals and new laws have been introduced in Florida affecting Private Wealth. A brief summary of the 2024 changes follows....more

Adler Pollock & Sheehan P.C.

Address These Estate Planning Priorities First

It’s been said that there’s “no time like the present.” That’s especially true when it comes to your estate plan. Even though creating an estate plan may seem overwhelming, there are several “top priority” items you should...more

IR Global

The Value of Process Procedures in Family Business: An Advisor’s Insights

IR Global on

Succession planning in family businesses is a complex and critical endeavor. It’s not just about passing the torch from one generation to the next; it involves meticulous preparation, clear communication, and structured...more

Kohrman Jackson & Krantz LLP

Privacy Protection in Estate Planning: The ABCs of Maximizing Confidentiality

Is anything private anymore? We live in a digital age where information is quick and abundant. While this is helpful in many circumstances, it may seem most concerning when it comes to your estate plan. Your estate plan...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Inflation-Adjusted Tax Figures

Federal Estate, GST and Gift Tax Rates The federal estate, gift and GST applicable exclusion amounts are as summarized below. In simple terms, these dollar figures represent the amount of wealth that each individual can...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Important Planning Considerations for 2024 and 2025

The "big ticket" item of the Tax Cuts and Jobs Act (TCJA) is the significant increase to the lifetime gift, estate and generation-skipping tax (GST) tax exemptions. Under the TCJA, the exemptions were increased from $5...more

Rivkin Radler LLP

The Holidays – A Time for Family, Reflection and. . . GST Tax Planning?

Rivkin Radler LLP on

How was your Thanksgiving? I hope you celebrated the holiday in a pleasant setting with folks whose company you enjoyed, and with plenty of good food. I hope you participated in some interesting conversations or joined in...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Illinois Updates

The following is a summary of some of the key legislative and judicial updates from Illinois in 2024. Control and Protection of Trust Property - On August 9, 2024, Senate Bill 3343 (SB 3343) was signed into law, which...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: International Developments

It has been back to business as usual for the Internal Revenue Service (IRS) and Department of the Treasury in 2024. US tax authorities are not shaking up the international private client landscape, but instead are providing...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: California Updates

Uniform Directed Trust Act and Uniform Fiduciary Income and Principal Act Become Effective - As reported in Katten's 2023 Year-End Advisory, the California Uniform Directed Trust Act (UDTA) and the Uniform Fiduciary...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: New York Updates

In 2024, there was much legislative activity in New York that affected the Private Wealth realm. A brief summary of the 2024 changes follows....more

Bennett Jones LLP

When a Gift is not a Gift—Resulting Trusts in Real Estate

Bennett Jones LLP on

When it comes to estate planning, joint tenancy is often seen as a simple way to transfer property after death while bypassing probate fees. But as the case of Jackson v Rosenberg shows, what may seem like a straightforward...more

Bowditch & Dewey

Massachusetts Estate Tax and Out-of-State Property

Bowditch & Dewey on

As part of the Supplemental Budget that was passed on September 16, 2024, changes were made to the calculation of the Massachusetts estate tax for the estates of decedents who, at the time of death, owned real estate or...more

Polsinelli

Will the Red Wave Crash Down on the Estate Tax Sunset?

Polsinelli on

Prior to November 5th, most pundits on both sides of the aisle did not forecast Republicans gaining control of both the Senate and House of Representatives. With Donald Trump being elected to a second term, we now have a “red...more

K&L Gates LLP

The Inside Basis: Possible Estate Tax Rollback in the United States

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In our inaugural episode of The Inside Basis, Randy Clark is joined by Sarah Bowman, one of our estate planning and trust administration lawyers, and Lauren Anderson, a wealth advisor at J.P. Morgan Private Bank, to discuss...more

The Estate Lawyers

Divorce Need Not Ignite Estate Litigation, But Too Often It Does

The Estate Lawyers on

Certain life events demand that estate planners work with client testators to adjust their estate plans. Divorce and remarriage are at the top of that list. When matrimony devolves into acrimony – setting the stage for...more

Barnea Jaffa Lande & Co.

Unregulated Trust Mechanisms

We tend to think of a “trust” as a regulated contractual mechanism that people create through an agreement, a letter of authorization to a trustee etc. But is it possible to become part of a trust arrangement without it being...more

Seyfarth Shaw LLP

Year-End Estate Planning for 2024

Seyfarth Shaw LLP on

A record-breaking stock market has again generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer. Gifts...more

Adler Pollock & Sheehan P.C.

Loan or Gift? Handle Intrafamily Transfers with Care

If you’re like most people, an important goal of estate planning is to provide financial assistance to your children or other loved ones, ideally at the lowest possible tax cost. There are many strategies for achieving this...more

Warner Norcross + Judd

Will Your Estate Distribution Mechanisms Actually Work Following an Unanticipated Incapacity or Death? Stress Testing Your Estate...

Warner Norcross + Judd on

The best way to be sure that your thoughtful estate planning will work as anticipated when the time comes is to walk through it with your planning attorney, from the viewpoint of a person beginning the task of administrating...more

Tonkon Torp LLP

Family Owned Real Estate: Managing Lack of Planning in Family Business Transitions

Tonkon Torp LLP on

Tonkon Torp business attorney Mick Harris moderates a four-part conversation between real estate attorney David Petersen and their special guest Jackson Lewis of Northwest Trustee & Management Services. In this segment, David...more

Tonkon Torp LLP

Family Owned Real Estate: Impacts of the Current Real Estate Market on Transition Planning

Tonkon Torp LLP on

Tonkon Torp business attorney Mick Harris moderates a four-part conversation between real estate attorney David Petersen and their special guest Jackson Lewis of Northwest Trustee & Management Services. In this segment, David...more

Tonkon Torp LLP

Family Owned Real Estate: Avoiding Pitfalls When Transitioning Family Real Estate

Tonkon Torp LLP on

Tonkon Torp business attorney Mick Harris moderates a four-part conversation between real estate attorney David Petersen and their special guest Jackson Lewis of Northwest Trustee & Management Services. In this segment,...more

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