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Wills, Trusts, & Estate Planning Finance & Banking Tax

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

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

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

Tax Cuts and Jobs Act of 2017: Year- End Planning for Individuals

by Perkins Coie on

On December 22, 2017, the tax reform bill, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the Act), was signed into law, bringing sweeping changes to the U.S. Tax Code. The Act takes effect on January 1, 2018....more

The Tax Cuts and Jobs Act of 2017

by Lathrop Gage on

H.R. 1, better known as The Tax Cuts and Jobs Act of 2017 (the “Act”), passed both the House and Senate earlier this week and was signed by President Trump. Most of the relevant provisions of the Act will be effective for tax...more

The Tax Cuts And Jobs Act: Impact And Planning

On December 20, 2017, Congress passed the Tax Cuts and Jobs Act (the “Act”) instituting sweeping changes to the Internal Revenue Code.1 By now, many taxpayers are familiar with the ‘big ticket’ changes the Act brings to the...more

Wealth Management Update - December 2017

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Estate Planning Under the Tax Cuts and Jobs Act

If enacted, the Tax Cuts and Jobs Act could open up significant estate planning opportunities. The House bill doubles the exemptions from estate, gift and generation-skipping transfer taxes, creating new opportunities for...more

Trusts and Estates Newsletter 2017

by Shipman & Goodwin LLP on

After months of delay, the Connecticut General Assembly passed, and the Governor signed in large part, a budget bill in the last days of October. The bill increases the Connecticut estate and gift tax exemption to meet the...more

Tax Reporting for Grantor Trusts

Typically, a trust must file a separate income tax return for each calendar year. However, for most grantor trusts, filing a separate tax return is optional. The general rule and the alternative methods of reporting are...more

Federal Tax Reform: Initial Steps Toward Changes to Gift, Estate and Generation-Skipping Transfer Tax

by Ballard Spahr LLP on

House Republicans unveiled the full text yesterday of their proposed tax legislation—titled the Tax Cuts and Jobs Act—which includes dramatic changes to the gift, estate, and generation-skipping transfer (GST) tax. ...more

REIT Implications of the New “Big Six” Tax Reform Framework

by King & Spalding on

On September 27, the Trump administration and the Republican leadership in the House and Senate released a document called the “Unified Framework for Fixing Our Broken Tax Code” (the “Framework”), which lays out the core...more

IRS Issues Proposed Guidance on the Definition of Registered Form

by Dentons on

On September 15, 2017, the Internal Revenue Service (IRS) issued proposed regulations (REG-125374-16) amending the definition of obligations that are in registered form to take into account current market practices and...more

Section 7C

by Hogan Lovells on

Raising the red flag on low interest and interest free loans to trusts - Over the years, trusts have consistently proved to be a reliable and attractive vehicle for many, offering flexibility and benefits with regard to...more

Every Day is Bitcoin Pizza Day: What Clients and Estate Planners Need to Know about Virtual Currency

by Murtha Cullina on

The combined value of all of the 867 crypto currencies tracked by CoinMarketCap.com is presently over $161 billion. Only seven years ago, on what is commemorated as “Bitcoin Pizza Day,” Bitcoin, then a new crypto currency,...more

Wealth Management Update - September 2017

by Proskauer Rose LLP on

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Wealth Management Update - July 2017

by Proskauer Rose LLP on

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Treasury Dept. Identifies 8 "Significant Tax Regulations" for Review to Reduce Burden

by Holland & Knight LLP on

The U.S. Department of the Treasury announced on July 7, 2017, in Notice 2017-38 (the Notice) that it has identified as "significant tax regulations" eight sets of U.S. federal tax regulations that were issued between Jan. 1,...more

Wealth Management Update - June 2017

by Proskauer Rose LLP on

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-family Loans and Split Interest Charitable Trusts - The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Is a charitable IRA rollover a viable option?

For those age 70½ or older who plan to make charitable donations this year, qualified charitable distributions from an IRA, also known as charitable IRA rollovers, can provide significant tax benefits. This article details...more

Podcast - Shrink the Section 457A Tax on Hedge Fund Management and Incentive Fees and Expand Your Impact

by Ropes & Gray LLP on

In a recently released Ropes & Gray podcast, asset management partner Isabel Dische, tax partner Brett Robbins, and private client partner Cameron Casey discuss the effect of Section 457A on pre-2009 management and incentive...more

Families Can Use a Tax-Advantaged ABLE Account to Save for Disability Expenses

by Bowditch & Dewey on

Governor Charlie Baker recently announced the launch of a state sponsored Achieving a Better Life Experience (ABLE) account program that has been long awaited by disabled individuals and their families. This program serves as...more

Guidelines for Making Prudent Investment Decisions

by Moskowitz LLP on

When the creator of a trust is living, they can manage their trust and invest it however they wish. When a named trustee assumes control of a trust, however, they have a number of investment obligations and duties. A...more

Succession Planning—Bet the Farm on It

by Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

Wealth Management Update - May 2017

by Proskauer Rose LLP on

May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

The flexibility of stretch IRAs: Learn how your IRA can benefit your spouse and other beneficiaries

IRAs are meant to be used for retirement saving. However, if a person doesn’t need to tap into an IRA for income during retirement, he or she can preserve the assets as part of his or her estate, above and beyond what was...more

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