News & Analysis as of

Estate Planning Estate Tax

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -

New Maryland Estate Tax Exemption for 2019, Signals Trend Following 2017 Tax Act

On April 5, 2018, legislation passed in Maryland that will set the amount exempt from Maryland estate tax at $5 million for decedents who die on or after January 1, 2019. Previously, the exemption would equal the federal...more

IRS Rules Gift Splitting Differs for Gift and GST Tax Purposes

by Genova Burns LLC on

In PLR 201811002 the IRS has ruled that gift splitting works differently when applied to Gift taxes and Generation Skipping Transfer (GST) taxes. Gift splitting is authorized by IRC Section 2513(a)(1) and states, generally,...more

What Could Go Wrong? The Importance of Business Succession Planning

by Ward and Smith, P.A. on

Most business owners expect that their company will continue to operate after they stop working. However, successfully transitioning control of a business rarely occurs without thoughtful planning. Consideration must be...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Impact of New Tax Laws on Estate Planning

by Polsinelli on

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

Estate Planning Pitfall - You haven’t transferred ownership of a life insurance policy to a trust

After recent tax legislation, including the Tax Cuts and Jobs Act, few tax shelters are left standing. One key exception is life insurance. This brief article details that, if certain requirements are met, the buildup of...more

Estate Planning for Millennials and the “Middle Class”

With all the changes in the new tax laws, some people may be hesitant to move forward with an estate plan. It is important, however, to keep in mind that most clients will not be subject to the federal estate tax and...more

McGuireWoods LLP State Death Tax Chart (Updated)

by McGuireWoods LLP on

This State Death Tax chart is maintained for the McGuireWoods LLP Website and is updated regularly. Please see full chart below for more information....more

Estate Planning Adjustments for Tax Year 2018 & Chained CPI Under New Tax Act

by Williams Mullen on

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service adjusts annually for inflation. On December 22, 2017,...more

Federal Estate, Gift and GST Tax Exemption Amounts Spike

by Harris Beach PLLC on

On December 22, 2017, President Trump enacted the Tax Cuts and Jobs Act, (“TCJA”) ushering in significant changes to the federal estate, gift and generation-skipping transfer tax laws. Through December 31, 2017, the federal...more

Estate Planning after The Tax Cuts and Jobs Acts of 2017

by Lathrop Gage on

The Tax Cuts and Jobs Act of 2017 (the “Act”) doubled the amount of property that an individual can transfer without incurring federal estate, gift or generation-skipping transfer tax (“Exemption Amount”) from $5,490,000 in...more

Evaluating The Fitness Of Your Estate Plan For 2018 In Light Of The Tax Cuts And Jobs Act

by Roetzel & Andress on

The recent passage of the federal Tax Cuts and Jobs Act (TCJA) significantly altered federal estate tax laws effective January 1, 2018. The TCJA increased exemption amounts for federal estate, gift, and generation-skipping...more

2018 Estate Tax Changes

by Jaburg Wilk on

Under the new tax law, estate tax has not been repealed. However, there is relief for higher net worth individuals, business owners and people with large estates that have little or no liquidity who previously might have...more

Decoding the Tax Cuts and Jobs Act of 2017 for Estate and Wealth Planning

As many of you are already aware, the Tax Cuts and Jobs Act of 2017 (Tax Act) was signed into law on December 22, 2017. The Tax Act makes a wide variety of changes to the Internal Revenue Code covering a broad range of...more

Estate Tax Changes Past, Present, and Future (Updated)

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Changes in Planning for Closely Held Businesses Under the New Tax Law

The tax changes recently signed into law increased the exemption from federal estate and gift taxes to about twice the prior level. Even though the increase is temporary and will expire at the end of 2025, it changes some of...more

Important Information about the 2017 Tax Cuts & Jobs Act: Estate & Gift Tax Provisions

by Tucker Arensberg, P.C. on

Exemption Amount Doubled: A simple but powerful change was made to the Federal Estate and Gift Tax: Starting in 2018, the amount that an individual can transfer free from estate tax (the "exclusion amount") increased from a...more

The New Estate Tax Law – Here Today, Gone Tomorrow

by Proskauer Rose LLP on

Increase in Exemption from Estate, Gift and Generation-Skipping Transfer Taxes - On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act implements a variety of significant tax reforms....more

More Planning Tips for Individuals Under New Tax Act

by Ruder Ware on

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

2018 Federal and Maryland Legislation Changes Regarding Estate and Gift Tax

by Pessin Katz Law, P.A. on

An abundance of tax legislation was signed into law in the final days of 2017. In terms of estate and gift tax, here is what individuals need to keep in mind: Under the new law, which took effect on January 1, 2018, the...more

Estate Planning is Still Important Even with the Passage of the Tax Cuts and Jobs Act

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

Dramatic Change to Federal Estate, Gift and Generation-Skipping Tax Exemptions

• Each individual’s exemptions from federal estate, gift and GST taxes have roughly doubled to approximately $11,200,000 • The increased exemptions are available only temporarily, through 2025 • We recommend that you...more

All in the family: Transferring your vacation home

Vacation homes are typically treasured by families and often pass down from generation to generation. But there may be more to transferring the family lake cottage or beach house than first meets the eye. If one plunges ahead...more

Estate planning for your business: Use an ESOP to properly address your closely held company

If a substantial portion of one’s net worth is tied up in his or her closely held business, it’s critical to have an exit strategy. This article explains why an employee stock ownership plan is one tool that offers a...more

429 Results
|
View per page
Page: of 18
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.