News & Analysis as of September 22, 2024

Transfer of Assets

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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 -

Understanding Gift & Estate Tax Valuation

Opportune LLP on 11/16/2023

The requirements outlined in the tax code can significantly impact an individual’s gift and estate planning, and navigating these requirements effectively is crucial. In this blog post, we will delve into gift and estate tax...more

Year-End Estate Planning in an Election Year

Farella Braun + Martel LLP on 10/15/2020

The 2020 election is less than a month away and year-end estate planning is already underway for many. Under current law, the estate, gift and GST (generation-skipping transfer) tax exemptions for 2020 are set at $11,580,000...more

Gift Tax and GST Tax

Snell & Wilmer on 4/7/2020

On March 13, 2020, the President of the United States issued an emergency declaration in response to the ongoing COVID-19 pandemic. The Emergency Declaration instructed the Secretary of the Treasury to provide relief from tax...more

Estate Planning in a COVID-19 Environment and Relevant CARES Act Relief Provisions

Dechert LLP on 4/3/2020

As each of us copes with the ongoing challenges posed by COVID-19, we hope this finds you and your families safe and healthy. It can be difficult to think beyond the moment when faced with the daily anxiety and uncertainty...more

Insight on Estate Planning - October/November 2019

Adler Pollock & Sheehan P.C. on 10/1/2019

Do you know the differences in estate tax law for couples when both spouses are U.S. citizens vs. when one spouse is a non-U.S. citizen? Or what nonlegal document should accompany a will? We are pleased to present the...more

Estate Planning Pitfall - You haven’t transferred ownership of a life insurance policy to a trust

Adler Pollock & Sheehan P.C. on 4/5/2018

After recent tax legislation, including the Tax Cuts and Jobs Act, few tax shelters are left standing. One key exception is life insurance. This brief article details that, if certain requirements are met, the buildup of...more

Making Lifetime Gifts Saves Federal Taxes

Perkins Coie on 9/8/2016

Lifetime Gifts Yield Estate and Gift Tax Savings - The federal gift tax annual exclusion currently allows each individual to give up to $14,000 each year to an unlimited number of donees – entirely free of tax. (Under...more

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