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Estate Planning › Estate Tax › Estate-Tax Exemption

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 -
BakerHostetler

[Podcast] Estate and Tax Planning for Globally Mobile Clients: Purchasing U.S. Real Estate by Non-U.S. Persons

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Non-Americans who wish to purchase U.S. real estate should be aware of the tax consequences of owning real estate here. George McCormick discusses these tax issues and steps to minimize their impact....more

Venable LLP

“Don’t Let the Sun Go Down on Me” - Plan Ahead for the Sunset of Federal Estate and Gift Tax Exemptions at the End of 2025

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The Tax Cuts and Jobs Act of 2017 (TCJA) enacted significant changes in the federal estate and gift tax laws commencing in 2018. One of the most notable changes was that the TCJA doubled the federal lifetime gift tax...more

BakerHostetler

[Podcast] Estate and Tax Planning for Globally Mobile Clients: Pre-immigration Planning for Moving to the United States

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Individuals considering moving to the United States should be aware of the tax consequences of becoming a U.S. resident and take advantage of tax planning opportunities before moving here. George McCormick discusses these...more

Ward and Smith, P.A.

Death and Taxes…and Planning Opportunities

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Financial markets, political moods, and the world-at-large can take us on a roller coaster ride of ups and downs.  But savvy investors (and their estate planning counsel) know that – in the end – neither the bears nor bulls...more

Husch Blackwell LLP

Understanding the 2026 Changes to the Estate, Gift, and Generation-Skipping Tax Exemptions

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The Tax Cuts and Jobs Act of 2017 provided major changes to the Internal Revenue Code, specifically doubling the federal estate, gift, and generation-skipping transfer (GST) tax exemption (collectively, the exemption) from...more

Blank Rome LLP

Making Sense of New York’s Estate Tax “Cliff”

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In addition to the federal estate tax, which may be levied upon a decedent’s estate, New York imposes a separate state estate tax regime. Generally a decedent’s estate is subject to the New York State estate tax if such...more

Rosenberg Martin Greenberg LLP

Seize the Moment: Maximizing Your Estate Planning Before 2026

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In a significant legislative shift, the Tax Cuts and Jobs Act of 2017 doubled the exemption amounts for estate, gift, and generation-skipping transfer taxes (collectively known as “Death Taxes”). As of 2024, the federal...more

DarrowEverett LLP

Maximizing QSBS Benefits with Estate Planning: The Art of Stacking

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The number of taxpayers seeking the benefits of Qualified Small Business Stock (“QSBS”) has picked up steam in recent years, particularly since the Tax Cuts and Jobs Act (“TCJA”) lowered the federal corporate tax rates to...more

Blank Rome LLP

Estate Planning for the Business Owner Series, Part 3: Examples of Business Transfers and Valuations

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The purpose of this post, part three of our “Estate Planning for the Business Owner” series, is to provide a sample using real numbers showing the impact and benefit of using closely held business interests in lifetime...more

Blank Rome LLP

Estate Planning for the Business Owner Series, Part 2: Valuing the Business

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The value of an asset at the time of a transfer is the key component to the United States’ transfer tax system. Gratuitous transfers during lifetime are considered gifts, while transfers as a result of the death of the owner...more

Davidoff Hutcher & Citron LLP

IRS’s December Surprise: Shifting Sands in Estate Planning with Trust Tax Reimbursement Revisions

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On the last workday of the year, December 29, 2023, the IRS issued a Chief Counsel Memorandum adding a wrinkle to one of the most estate planning techniques – to give assets away for estate tax purposes but not income tax...more

McGuireWoods LLP

Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino

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Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift...more

Freeman Law

What is Estate Tax?

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The estate tax is a tax on transferring assets from a deceased person to their heirs or beneficiaries. The federal estate tax in the United States is imposed on the transfer of the taxable estate of every decedent who is a US...more

McGuireWoods LLP

Once Removed Episode 18: The Reciprocal Trust Doctrine

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This podcast often discusses the elements of a trust, and how to grant access, control and flexibility to beneficiaries and trustees. But for tax and other purposes, the donor typically cannot retain those kinds of powers. ...more

Ballard Spahr LLP

Increases to Gift and Estate Tax Exemption, Generation Skipping Transfer Tax Exemption, and Annual Gift Tax Exclusion

Ballard Spahr LLP on

In 2024, the federal estate, gift, and Generation Skipping Transfer tax exemption amount increased from $12.92 million to $13.61 million per individual (a combined $27.22 million for a married couple), representing an...more

Burns & Levinson LLP

Death and Taxes – The Three Unavoidable Taxes in Estate Administration

Burns & Levinson LLP on

Death and taxes are often jokingly said to be two of the only unavoidable things in life. Unfortunately, taxes are also unavoidable when someone passes away. When administering an estate or trust after someone’s death, three...more

Hinckley Allen

Understanding 2024 Estate, Gift, and Generation-Skipping Transfer Tax Exemptions

Hinckley Allen on

Each year, certain estate, gift, and generation-skipping transfer (“GST”) tax figures are subject to inflation adjustments that go in effect on January 1. Below are the current adjustments for 2024....more

McDermott Will & Emery

Prepare for Soaring Estate and Gift Tax Exclusions and GST Tax Exemption to Close After 2025

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On January 1, 2024, the amounts that individuals can gift free of federal gift and generation-skipping transfer (GST) tax rose to $13,610,000 for individuals and $27,220,000 for married couples due to inflation adjustments....more

Rivkin Radler LLP

Consider Making Large Gifts before the 2026 Exemption Reduction Kicks In

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The current combined federal estate and gift tax exemption amount of $13.61 million per person ($27.22 million per married couple) is scheduled to “sunset” automatically on January 1, 2026, and revert to $5 million indexed...more

Burns & Levinson LLP

Is 2024 the Year of Gifting? Different Ways to Gift to Minimize Estate Taxes

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Gifting assets during life allows individuals to minimize their estate tax liabilities at death. Gifting is a strategy that can preserve wealth for future generations by minimizing estate taxes....more

Blank Rome LLP

Take Note: Significant 2024 Gift/Estate Tax Exemption Inflation Increases

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The New Year brought inflation adjustments to the federal and some states’ gift/estate tax exemption amounts, thereby increasing the amount individuals can gift during life and at death free of federal and state gift and...more

Pullman & Comley, LLC

Ringing in 2024 with Updates on Estate and Gift Taxes

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The New Year brings with it new estate and gift tax exemption and exclusion amounts.   In 2017, a new tax law doubled the federal estate and gift tax exemption. And that exemption amount has increased each year between 2018...more

McGuireWoods LLP

Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024

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In previous episodes, we discussed the exemptions that apply for gift, estate and generation-skipping transfer tax. Many of these exemptions are adjusted for inflation each year. In Episode 16, we’ll review those exemptions...more

McGuireWoods LLP

Once Removed Episode 17: Annual Gifting to Individuals: Options, Opportunities and Pitfalls

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The beginning of the year is a good time to think about annual gifts to descendants and other beneficiaries. Episode 17 will walk through some options to make efficient use of annual gifting and also address some potential...more

Adler Pollock & Sheehan P.C.

No Time Like the Present: Address Top Estate Planning Priorities Today

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When it comes to estate planning, consider taking a page out of the Boy Scouts Handbook: Be prepared. The last thing you want is for your family to be scrambling to pick up the pieces after your death. Of course, you’ll need...more

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