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Estate Planning › Gift-Tax Exemption › Proposed Legislation

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 -
Greenbaum, Rowe, Smith & Davis LLP

The Implications for Estate Planning of Proposed Tax Provisions of the Build Back Better Act

Greenbaum, Rowe, Smith & Davis LLP on

What You Should Know •The House Ways and Means Committee has approved the tax provisions of President Biden’s Build Back Better Act, a significant first step towards passage. •If passed as drafted, the proposed...more

Winstead PC

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...more

Goodwin

U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted

Goodwin on

The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for high net worth individuals if enacted. Gift, estate and GST exemption amounts would be decreased; grantor trusts would...more

Stoel Rives LLP

Proposed Legislation to Change Estate and Gift Tax Planning

Stoel Rives LLP on

Democrats recently unveiled the Build Back Better Act, which, if passed, would bring significant changes to the Tax Code and would have a drastic impact on common estate planning techniques, including gifts to trusts. The...more

Sheppard Mullin Richter & Hampton LLP

Possible Changes to Estate and Gift Tax Law

Sheppard Mullin Richter & Hampton LLP on

Last week the House Ways and Means Committee released a draft of proposed tax law changes to include in a reconciliation bill. While it is uncertain whether any of these proposals will be adopted – and if so in what form –...more

Pullman & Comley, LLC

Proposed Tax Law Changes Impacting Estate and Gift Taxes

Pullman & Comley, LLC on

As many people are aware, Congress is considering changes to the federal tax code to support President Biden’s Build Back Better spending plan.  As of this writing, on September 22, 2021, no bill has been enacted....more

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

Schwabe, Williamson & Wyatt PC on

House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more

Manatt, Phelps & Phillips, LLP

Proposed Tax Legislation Could Significantly Impact Your Estate Plan

Manatt, Phelps & Phillips, LLP on

Recent news stories have been published about two bills introduced in the Senate that, if enacted, could have a significant impact on many estate plans. These bills include proposed changes that many estate planning...more

Whitman Legal Solutions, LLC

American Families Plan and Real Estate Investments – 1031 Exchanges

Whitman Legal Solutions, LLC on

This article is part of a series discussing how the American Families Plan might affect real estate investments. Previous articles discussed how the American Families Plan proposes eliminating the stepped-up basis for many...more

Bilzin Sumberg

For The 99.5% Act – Is Change a Coming for the Estate Planning World?

Bilzin Sumberg on

On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more

Kramer Levin Naftalis & Frankel LLP

Trust and Estate Planning 2017 Year End Update

Kramer Levin Naftalis & Frankel LLP on

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

Proskauer Rose LLP

Personal Planning Strategies - December 2017

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

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