News & Analysis as of

Estate Planning › Generation-Skipping Transfer › 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

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.

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

White and Williams LLP

IRS Releases Gift Tax and Generation-Skipping Transfer Tax Filing and Payment Relief

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The Internal Revenue Service (IRS) recently released a series of notices and frequently asked questions (FAQs) to provide guidance on income tax filing and payment relief due to the coronavirus pandemic. We previously...more

Williams Mullen

IRS Extends Filing Deadline for Federal Gift Tax and Generation-Skipping Transfer Tax Returns

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In response to the COVID-19 pandemic, the Internal Revenue Service (the IRS) issued various notices addressing both payment and filing deadlines for taxpayers. On March 18, 2020, for example, the IRS issued Notice 2020-17,...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

BCLP

Update to Notice 2020-18, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic, Related to Gift and...

BCLP on

Notice 2020-20; Federal income tax filing and payment relief on account of Coronavirus Disease 2019 (COVID-19) emergency. This notice provides relief in addition to the relief provided in Notice 2020-18, issued on March 20,...more

Sheppard Mullin Richter & Hampton LLP

Estate Planning In Turbulent Times

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As we all learn to cope with the unprecedented changes to our daily lives imposed by the COVID-19 crisis, we want to assure you that the Sheppard Mullin estate planning team is thinking of you and stands ready to assist you...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

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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