News & Analysis as of September 26, 2024

Charitable Deductions

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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 -

The Estate Planner, November/December 2023

Shumaker, Loop & Kendrick, LLP on 11/1/2023

How planning can minimize the impact of income taxes - Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax....more

Wealth Management Update - August 2023

Proskauer Rose LLP on 8/3/2023

The August 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, an increase from the July 2023 rate of 4.6%. The August applicable federal rate (“AFR”) for use with a sale...more

‘Tis the Season (For Charitable Giving)

Woods Rogers on 10/26/2022

The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on 9/29/2021

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Maximizing End-of-Year Charitable Giving

Bowditch & Dewey on 11/25/2020

As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more

The Estate Planner - July/August 2020

Shumaker, Loop & Kendrick, LLP on 6/2/2020

Don’t overlook foreign assets when planning your estate - You’d be surprised how often people fail to disclose foreign assets to their estate planning advisors. They assume that these assets aren’t relevant to their “U.S.”...more

Tax and Estate Planning in the Current Environment

Snell & Wilmer on 3/25/2020

In response to the COVID-19 pandemic and the resulting financial market turmoil, taxpayers are left with many questions regarding their obligations and the future of their holdings. In the near term, taxing authorities across...more

The Estate Planner - January/February 2020

Shumaker, Loop & Kendrick, LLP on 12/19/2019

Now or later - When’s the right time to transfer your wealth? - To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the gift and estate tax exemption — to an inflation-adjusted...more

Top 5 Tax Considerations Related to Your Estate Planning

Chambliss, Bahner & Stophel, P.C. on 1/30/2019

It's time to start the conversation with your tax advisor. The 2019 filing deadline is Monday, April 15. Note the new tax brackets. The new law imposes a new tax rate structure with seven tax brackets for 2018: 10%, 12%, 22%,...more

Nine Estate Planning Tips to Prepare for 2019

Pillsbury Winthrop Shaw Pittman LLP on 12/21/2018

There have been a number of significant estate planning developments in 2018 which will help clients prepare for 2019. The historically high increased exemption amounts for gift, estate and generation-skipping transfer...more

Is Your Estate Plan Getting the Most Out of the New Tax Laws?

Baker Donelson on 12/13/2018

Sweeping changes to federal tax laws have introduced certain estate planning opportunities that can be implemented now and over the next few years. Here are tips to ensure your plans are as financially sound and tax efficient...more

Estate Planning Newsletter - December 2018

Hinshaw & Culbertson LLP on 12/11/2018

Welcome to the Hinshaw Estate Planning Newsletter, designed to help you stay up to date on current estate planning topics, as well as other relevant legal developments and trends....more

Tax Reform and Estate Planning: How the 2017 Tax Cuts and Jobs Act Impacts Estate Plans for McNair Clients

Burr & Forman on 10/5/2018

When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more

For high net worth individuals - What can you do before the end of the year to protect against potential changes in the tax laws? ...

Dickinson Wright on 12/12/2016

President-elect Trump has posted his tax proposals on his website. Although we are unable to say with certainty whether any of these proposals will be enacted, we address three of his proposals and our suggestions. Any of...more

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