News & Analysis as of

Estate Planning Gift-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 -

Wealth Transfer Tax Planning Implications of the 2017 Tax Act

by Williams Mullen on

On December 22, 2017, President Trump signed Public Law No. 115-97, formerly known as the Tax Cut and Jobs Act of 2017[1], into law (the “2017 Tax Act”). Increase of Gift, Estate, and GST Exclusions and Exemptions in 2018...more

2018 Key Trust & Estate Planning and Corporate Ownership Implications of the New Tax Law

by Perkins Coie on

With the passage of Public Law no. 115-97, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act), attorneys in Perkins Coie’s Trust & Estate Planning practice, along with our clients running closely...more

Estate Planning Implications of the Tax Cuts and Jobs Act

by Winstead PC on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law, ushering in some of the most sweeping changes to the Internal Revenue Code in over 30 years. While the Act substantially revises the...more

Trump Administration Signs 2017 Tax Act

by Davis Wright Tremaine LLP on

On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more

The Times They Are A–Changin’: Estate and Gift Tax Exemption Amount Doubles

In this world, things change, and clients need to adapt to those changes. A major change in gift and estate tax law has occurred and clients need to take notice, and adapt their estate plans accordingly....more

The 2017 Tax Act Doesn't "Simplify" Planning for Estates and Gifts Things to Consider or Reconsider As You Look at Your Estate

by Burns & Levinson LLP on

On December 22, 2017, the President signed a major change to federal tax law that contains many provisions affecting individuals, estates, and trusts. While the impetus behind the change was simplification, as some unnamed...more

Estate and Gift Planning Under the New Tax Law

by Stoel Rives LLP on

The Tax Cuts and Jobs Act of 2018 went into effect on January 1, 2018. The new law makes some changes to key estate planning-related provisions. Except as otherwise noted, these changes are effective now and will sunset at...more

Private Wealth Newsletter - Significant Changes to Estate, Gift, and Generation-Skipping Transfer Taxes

The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more

What You Should Know About Estate and Gift Tax Reform

by Stinson Leonard Street on

The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially curtails its reach. The new tax legislation represents a dramatic change to our transfer tax...more

Changes to Federal Estate, Gift, and Generation-Skipping Transfer Tax Laws

by K&L Gates LLP on

President Trump signed the Tax Cuts and Jobs Act (the “Act”) on December 22, 2017, implementing a new law that affects many taxpayers. This Alert addresses some of the changes to the federal estate, gift, and...more

Impact on Gift, Estate, and GST Taxes Under the Tax Cuts and Jobs Act (H.R. 1)

by Ballard Spahr LLP on

The tax law known as the Tax Cuts and Jobs Act (H.R. 1), signed by President Trump on December 22, 2017, contains important changes to provisions governing gift, estate, and generation-skipping transfer (GST) taxes...more

Effect of the Tax Cuts and Jobs Act on Trust and Estate Planning

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more

Impact of the Tax Law on Estate Planning

President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018....more

Changes To Estate And Gift Taxes In The New Tax Law

by Fox Rothschild LLP on

Estate and gift tax planning are among the many areas of tax law impacted by the Tax Cuts and Jobs Act, which takes effect on January 1, 2018. Federal Tax Law Changes- Through December 31, 2017, each person had an...more

Tax Reform Act Doubles Gift, Estate and GST Tax Exemptions

by Ropes & Gray LLP on

Congress has passed and President Trump has signed new tax reform legislation (the “Act”). Although the Act falls short of repealing the “death tax”, it doubles the amount an individual may transfer free of tax either by gift...more

What the Final Tax Bill Means for Estate and Gift Tax Planning

by Barley Snyder on

The Tax Cuts and Jobs Act, which President Donald Trump signed into law Friday, is the most significant overhaul of the U.S. Tax Code in more than 30 years. Among the significant changes is an increase of the federal estate,...more

Tax Reform 101 – Estate Planning For High Net Worth Individuals

The new tax bill passed by Congress and signed into law by the President today has increased the amount individuals can transfer free of Gift, Estate and Generation Skipping Transfer (“GST”) taxes....more

New Tax Law Provides Major Estate and Gift Planning Opportunities

by Kelley Drye & Warren LLP on

On December 20, 2017, Congress delivered to President Trump the Tax Cuts and Jobs Act (the “Act”), which includes provisions that affect the Federal estate, gift and generation skipping transfer, or “GST”, taxes. ...more

You Can Give Away More Tax Free in 2018

After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. ...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

Trust and Estate Planning 2017 Year End Update

As we approach the end of the year, we thought you would find it useful to have the following summary of recent developments and updates that may affect your trust and estate planning....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 Planning Under the Tax Cuts and Jobs Act

If enacted, the Tax Cuts and Jobs Act could open up significant estate planning opportunities. The House bill doubles the exemptions from estate, gift and generation-skipping transfer taxes, creating new opportunities for...more

Personal Planning Strategies - December 2017

by Proskauer Rose LLP on

2018 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...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

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