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Estate Planning › Estate Tax › Coronavirus/COVID-19

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 -
Rivkin Radler LLP

The Time to Plan for Tax Code Changes Is Now

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The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...more

Bowditch & Dewey

Legal Considerations of Living Together in a Multi-Generational Home

Bowditch & Dewey on

During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more

Farrell Fritz, P.C.

Intra-Family Loan: A Gift Alternative In Turbulent Times?

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Woe to Us? We live in strange times. The coronavirus pandemic hit the United States hard, the scientific community fears a second round later this year, and there have been wildly differing estimates over when an...more

Adler Pollock & Sheehan P.C.

The CARES Act: Recent Tax Law Changes May Affect Your Estate Plan

Adler Pollock & Sheehan P.C. on

The Coronavirus Aid, Relief and Economic Security (CARES) Act is designed to provide tax relief to individuals and businesses struggling to make ends meet due to the COVID-19 pandemic. But this law may also have a...more

Burns & Levinson LLP

Estate Administration During a Pandemic

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This month we will continue the discussion regarding our professional experiences during the COVID-19 pandemic.  In my previous post, I addressed how our attorneys have continued working with clients to prepare and execute...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - September/October 2020

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As we continue to recover from the COVID-19 pandemic and much of the economy reopens, the “new normal” demands continued social distancing in many areas of life. What does this mean for estate planning? Clearly, estate...more

Ruder Ware

Peter, Paul, and Mary Should Make Large Gifts – Now!

Ruder Ware on

Peter, Paul, and Mary have done well for themselves. Each has a nice home, a seasonal residence, and a large IRA. Coincidentally, each also has an additional $11 million worth of real estate, savings, brokerage accounts, and...more

Proskauer Rose LLP

Wealth Management Update - July 2020

Proskauer Rose LLP on

July 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intrafamily Loans and Split-Interest Charitable Trusts - The July Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Blank Rome LLP

The Perfect Storm for Estate Planning Before Year End

Blank Rome LLP on

The confluence of several factors—depreciated asset values caused by the COVID-19 pandemic’s effect on the economy, record-low interest rates, and record-high exemption amounts—have created a perhaps once-in-a-lifetime...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – Estate Planning In The Time Of Coronavirus

Farrell Fritz, P.C. on

This is a surrealistic time for most of us, but we will come out on the “other side” and we still need to plan for the future. We should continue to take at least basic steps to plan our estates, like preparing wills and/or...more

Troutman Pepper

Estate Planning Opportunities in a COVID-19 Environment

Troutman Pepper on

COVID-19 has created uncertainty in many aspects of our daily lives and caused an unprecedented disruption to the economy. Financial markets have been turned upside down, asset values have dropped, and interest rates have...more

Moritt Hock & Hamroff LLP

Estate Planning In 2020

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The current state of affairs reminds all of us that we live in a time of uncertainty. We must be mindful that estate plans are fluid and need to be altered to reflect current realities. Now, more than ever, clients should be...more

Farrell Fritz, P.C.

Revised COVID-19-related FAQs From the IRS

Farrell Fritz, P.C. on

The IRS has revised its COVID-19-related FAQs. The updated “frequently asked questions” – reproduced below – address estate tax return filings and tax payments, portability, qualified disclaimers, allocation of GST exemption,...more

Bond Schoeneck & King PLLC

Opportunities in Estate Planning During the COVID-19 Crisis

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In the last several weeks we have seen the drastic impact of the COVID-19 crisis on our health, way of living and the economy. While these times may feel uncertain, there are still many factors in your control and even...more

Farrell Fritz, P.C.

The Remote Witnessing Of Estate Planninig Documents During The COVID-19 Pandemic

Farrell Fritz, P.C. on

As our everyday life continues to be impacted by the novel coronavirus (COVID-19), Governor Andrew Cuomo has signed various executive orders to address the issues faced by the State and its residents during these...more

Cranfill Sumner LLP

Who, What, When, Where, & Why of Estate Planning During Covid-19 and Beyond

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When a health crisis hits, families often scramble to find and locate estate planning documents and other legal documents. At times, loved ones learn that the documents are not consistent with the plans they believed were in...more

Pillsbury Winthrop Shaw Pittman LLP

Estate Planning Tips in a COVID-19 Economy

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Taking advantage of present economic opportunities. Now is the time to take advantage of opportunities to save on transfer taxes....more

Winthrop & Weinstine, P.A.

COVID-19 and Estate Planning: Strategies to Consider Now

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The COVID-19 pandemic has led to dramatic fluctuations in the stock market and the value of closely held businesses.  Although we all hope that the massive dips in values are temporary, these challenges present unique...more

Farrell Fritz, P.C.

Wealth Transfer Opportunities with Devalued Assets

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The COVID-19 pandemic continues to have far-reaching effects which are expected to be felt for months to come, if not longer. The economy has been hit hard and the stock market has seen a dramatic reduction in value. ...more

Katten Muchin Rosenman LLP

Looking Beyond the COVID-19 Crisis

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First and foremost, we hope you and your families are well and managing as best as possible during these unprecedented times. Although this crisis presents innumerable unforeseen challenges in the short run, it also presents...more

Lowenstein Sandler LLP

Estate, Gift, and Income Tax Planning in the Time of COVID-19

Lowenstein Sandler LLP on

First, and most important, we are thinking of all of our clients and friends and hoping everyone is safe and healthy at this challenging time. We have heard the following statement frequently of late: “Never let a crisis...more

Neal, Gerber & Eisenberg LLP

Client Alert: Lowered Interest Rates, Market Declines and Increased Exemptions Present an Opportune Time for Tax Planning

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The current economic environment may be an opportune time to implement certain planning techniques that could be enormously beneficial to you and your family from an estate and tax planning perspective. There are at least...more

Ballard Spahr LLP

Estate Planning in Uncertain Times

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The coronavirus (COVID-19) outbreak has given reason for us to not only make sure our estate plans reflect current wishes, but also to seek potential opportunities for smart tax planning. In the words of Albert Einstein,...more

Patterson Belknap Webb & Tyler LLP

Perspective and Planning During Uncertainty

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Recent market volatility and the public health implications of the spread of coronavirus (COVID-19) have been unsettling. It can be stabilizing in turbulent times to take a deep breath, focus on long-term planning strategies...more

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