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Estate Planning

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 -

Tax Cuts and Jobs Act Ushers in Big Changes to the Estate and Gift Tax

by Hodgson Russ LLP on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. The new law will have a substantial impact on current estate plans and planning moving forward. Significantly, however, there will be...more

Tax Reform Act Doubles Gift, Estate and GST Tax Exemptions

by Ropes & Gray LLP on

Congress has passed and President Trump has signed new tax reform legislation (the “Act”). Although the Act falls short of repealing the “death tax”, it doubles the amount an individual may transfer free of tax either by gift...more

What the Final Tax Bill Means for Estate and Gift Tax Planning

by Barley Snyder on

The Tax Cuts and Jobs Act, which President Donald Trump signed into law Friday, is the most significant overhaul of the U.S. Tax Code in more than 30 years. Among the significant changes is an increase of the federal estate,...more

Tax Reform 101 – Estate Planning For High Net Worth Individuals

The new tax bill passed by Congress and signed into law by the President today has increased the amount individuals can transfer free of Gift, Estate and Generation Skipping Transfer (“GST”) taxes....more

New Estate, Gift and GST Tax Provisions in Tax Reform Legislation

by Goodwin on

Congress has passed a major tax reform bill and it is expected to be signed into law in the next few days. This bill doubles the federal estate, gift and generation-skipping transfer tax exemptions for transfers occurring in...more

New Tax Law Provides Major Estate and Gift Planning Opportunities

by Kelley Drye & Warren LLP on

On December 20, 2017, Congress delivered to President Trump the Tax Cuts and Jobs Act (the “Act”), which includes provisions that affect the Federal estate, gift and generation skipping transfer, or “GST”, taxes. ...more

Interview Of Stuart Sherman, Licensed Professional Fiduciary At ConservaTrust Fiduciary Services, Inc.

by Fox Rothschild LLP on

For this post, we are fortunate to be joined by Stuart C. Sherman, a California Licensed Professional Fiduciary with ConservaTrust Fiduciary Services, Inc. in Los Angeles, California. Stuart agreed to sit for an interview...more

New Tax Changes – What You Need To Know

by Bryan Cave on

Today, Congress passed a sweeping tax bill, as widely expected over the last few weeks. The bill passed solely along party lines, with no Democrats voting for the bill. President Trump is expected to sign the bill into law,...more

Impact of US tax reform on estate taxes

by Dentons on

The major estate and gift tax change in the Conference Committee version of the Tax Cuts and Jobs Act of 2017 is a doubling of the integrated estate and gift tax exemption to an inflation adjusted $11.2 million for decedents...more

The Fine Print - Winter 2017 - Family Law & Estate Planning

The Winter 2017 issue of The Fine Print focuses on family law and estate planning and features articles on prenuptial agreements, what to know if you are heading toward divorce, and more. Click on the attachment below to read...more

New Jersey Enacts Uniform Fiduciary Access To Digital Assets Act

by Cole Schotz on

New Jersey recently enacted the Uniform Fiduciary Access to Digital Assets Act (the “Act”). In general, the Act provides executors, trustees, guardians, and power of attorney holders (“fiduciaries”) with the ability to access...more

Top Ten Reasons to Avoid Planning for Your Estate… Yes, You Read That Correctly

by Hinshaw & Culbertson LLP on

It's the holiday season and while New Year's resolutions are still several days away, it's never too early to start planning for the procrastinators among us. To help move things along for folks who lack motivation, are just...more

The Role of the Commissioner of Accounts in Virginia Estate and Trust Administration

by LeClairRyan on

People typically picture the probate process going something like this: a person dies, you find their will, you take the will to the courthouse, the executor pays the debts, and then the executor distributes the assets. Of...more

Wealth Management Update - December 2017

by Proskauer Rose LLP on

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

You Can Give Away More Tax Free in 2018

After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. ...more

Three Reasons Why Giving Your House to Your Children Isn't the Best Way to Protect It From Medicaid

You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it....more

Mineral Conveyance Thwarted by a Spendthrift Provision

by Gray Reed & McGraw on

In Bradley v. Shaffer, Darrell, a beneficiary of a mineral trust established by his grandparents, purported to convey to Bradley his mineral interests that were subject to the trust and any interest held in trust that he...more

Estate Tax Changes Past, Present, and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Surrogate’s Court Sets Aside Fraudulent Conveyance Violative of Contract to Make a Testamentary Disposition

by Farrell Fritz, P.C. on

A person who executes a valid agreement to make a testamentary disposition as to a specific item of property is precluded from making an alternative disposition, either during lifetime or upon death. ...more

After a Loved One Passes: Six Important Steps to Know

The days, weeks, and months after the death of a loved one can be emotional and stressful, especially if you are named the executor of your deceased family member or friend’s estate. ...more

Estate Planning Pitfall - You’re retiring to a foreign country

If plans call to relocate to another country after retirement, be aware that they may be tarnished if a person doesn’t look into all potential estate tax and income tax implications first. This brief article explores three...more

Year end is an ideal time to review your estate plan

As of this writing, it’s still anybody’s guess as to whether Congress will enact major tax reform legislation affecting federal gift and estate taxes. This situation casts a large shadow over estate planning at the end of...more

The Dangers and Pitfalls of Transfer On Death and Payable On Death Accounts

Many commentators and clients today voice a concern with avoiding probate. While this blog is not intended to address the desire or merit in avoiding probate, we will highlight some of the potential traps for clients who seek...more

Addressing intellectual property requires careful estate planning

Intellectual property (IP), such as copyrights and patents, can hold enormous value. Whether IP rights are a significant source of wealth or only a small fraction of an estate, it’s critical that it be properly addressed in...more

When should you turn down an inheritance?

If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more

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