News & Analysis as of September 25, 2024

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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 -

Treasury Releases First Installment of Long-Awaited Guidance on Donor-Advised Funds

Perkins Coie on 12/6/2023

Over the past several years, the U.S. Department of the Treasury has been preparing guidance concerning donor-advised funds (DAFs), which are accounts owned and controlled by public charities over which individual or...more

Proposed Tax Reform Regulations: Application of Section 199A to Estates, Trusts, and Beneficiaries

Dentons on 8/23/2018

This update covers the proposed Treasury regulations associated with the new IRS Code 199A as it relates to estates, trusts, and beneficiaries. An overview of Section 199A can be found here....more

Proposed IRS regulations will limit valuation discounts for family-held entities

McAfee & Taft on 8/22/2016

On August 2, 2016, the Internal Revenue Service (IRS) released proposed regulations that, when finalized, will affect clients holding and transferring interests in family-controlled entities. Family limited partnerships...more

Proposed Section 2704 Regulations Would Impose Significant Restrictions on Valuation Discount Planning for Family Controlled...

Farella Braun + Martel LLP on 8/15/2016

High net worth families often utilize family entity structures, such as limited partnerships or limited liability companies, in order to provide for the coordinated management of family assets and move wealth to younger...more

Trust and Estate: Time-Sensitive: Give it Away While There is Still Time (8/16)

Bond Schoeneck & King PLLC on 8/15/2016

Proposed Regulations for Internal Revenue Code § 2704 Significantly Limit Valuation Discounts for Intra-Family Transfers - On August 2, 2016, the United States Department of the Treasury (the "Treasury Department")...more

Valuation Discounts for Transfers of Interests in Family Entities May Be Severely Curtailed – You May Want To Act Now

Proskauer Rose LLP on 8/11/2016

On August 2, 2016, the Treasury Department and the Internal Revenue Service (the "IRS") issued proposed regulations under section 2704 (the "Proposed Regulations") of the Internal Revenue Code of 1986, as amended (the...more

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