News & Analysis as of September 22, 2024

Tax Cuts and Jobs Act

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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 -

The Federal Estate Tax In 2021: What Might We Expect? What Can We Do?

Farrell Fritz, P.C. on 1/4/2021

Happy New Year? Ask anyone outside the United States what comes to mind when they think about an American New Year’s celebration, and the odds are pretty good they will mention the ball drop in New York City’s Times Square. ...more

Tax Reform and Estate Planning: How the 2017 Tax Cuts and Jobs Act Impacts Estate Plans for McNair Clients

Burr & Forman on 10/5/2018

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

New IRS Proposed 199A Regulations Provide Guidance on 20% Profit Pass-Through Deduction

Burr & Forman on 8/15/2018

On August 8th, the IRS released its much-awaited Proposed Regulations on the new Section 199A 20% profit deduction for pass-through businesses. The new deduction applies to essentially all types of businesses other than C...more

Should a tax apportionment clause be in your estate plan?

Adler Pollock & Sheehan P.C. on 8/2/2018

Even though the Tax Cuts and Jobs Act doubled the gift and estate tax exemption to $10 million beginning this year, there are many families that still have to contend with significant federal estate tax liability. Plus, there...more

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

Akin Gump Strauss Hauer & Feld LLP on 2/14/2018

• 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

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