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Estate Planning › Gift Tax › Tax Court

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 -
Farrell Fritz, P.C.

Intra-Family Loan: A Gift Alternative In Turbulent Times?

Farrell Fritz, P.C. on

Woe to Us? We live in strange times. The coronavirus pandemic hit the United States hard, the scientific community fears a second round later this year, and there have been wildly differing estimates over when an...more

Proskauer Rose LLP

Wealth Management Update - December 2019

Proskauer Rose LLP on

December 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts - The December Section 7520 rate for use with estate planning techniques such as CRTs,...more

Williams Mullen

Cahill Case Sheds Light on Tax Court’s View of Intergenerational Split Dollar Agreements

Williams Mullen on

On June 18, 2018, the Tax Court issued a memorandum denying a motion for partial summary judgment filed by the Estate of Richard Cahill (T.C. Memo 2018-84). It was the second time in two years that the Tax Court had addressed...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Gerald Nowotny - Law Office of Gerald R....

Double Down! - Inter-Generational Split Dollar Throws Sand in the Face of the IRS Again

Gerald Nowotny - Law Office of Gerald R.... on

Recently I wrote an article on JD Supra called Split to Be Tied (May 4, 2016) regarding the Tax Court decision in Estate of Morrissette, (Estate of Clara M. Morrissette v. Commissioner, 146 T.C. No. 11 (April 13, 2016)). Once...more

Gerald Nowotny - Law Office of Gerald R....

Split to Be Tied!

Gerald Nowotny - Law Office of Gerald R.... on

Looking Beyond the Morrissette Decision and Around the Corner for Inter-Generational Split Dollar - Overview - I have had the opportunity throughout my career to know top life insurance agents as well as several top...more

McGuireWoods LLP

Parties Settle Closely Watched Tax Court Cases Involving Defined Value Clause

McGuireWoods LLP on

The IRS and executors have settled two cases in the United States Tax Court involving members of the Woelbing family, who own Carma Laboratories, Inc., of Franklin, Wisconsin, the maker of Carmex skin care products, and a...more

Adler Pollock & Sheehan P.C.

Make net gifts to reduce your gift tax rate

Adler Pollock & Sheehan P.C. on

Lifetime giving is a smart strategy to reduce a taxable estate, but the gift tax rate of 40% is steep. If one has used up his or her $5.43 million gift and estate tax exemption and would like to potentially reduce his or her...more

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