The cycle continues: Your adult children — one of the first generations to benefit from Section 529 plans — are saving for their kids’ college educations through 529 accounts of their own. Did you know that parents aren’t the...more
During our estate planning discussions, parents and grandparents often tell us about their hopes and dreams for the next generations of their families. Helping children and grandchildren achieve their full potential often...more
Providing for the educational needs of your children, grandchildren and even future generations is an honorable estate planning objective. What are your options for achieving this goal? A 529 plan can be a highly effective...more
My daughter turns 17 this week. As you might imagine, college is a frequent topic of conversation at our house. Where should she go to college? Will she be accepted at her top choices? What should she study? And most...more
Now that fewer people are subject to federal gift taxes, because of a generous $11.58 million lifetime gift tax exemption for 2020, a question many are asking is: “Do I need to file a gift tax return?” The short answer is...more
When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more
The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more
As Shanna Yonke mentioned in her January 22, 2018 Legal Update The New Tax Law Provides Estate Planning Opportunities, President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. The Act (officially,...more
The Tax Cuts and Jobs Act of 2017 (the Act) signed into law by President Trump on December 22, 2017 made sweeping changes that affect individuals, businesses, trusts and estates. This alert focuses on the impact of the Act on...more
In This Issue: - Sudden impact: When a spouse unexpectedly dies - New tax law affects estate planning strategies - All in the family: Transferring your vacation home - Estate planning pitfall: You haven’t planned for...more
This client alert is part of a special series on the Tax Cuts and Jobs Act and related changes to the tax code, where Blank Rome’s lawyers share their analysis of different provisions in the Act and how they may affect you...more
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
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