News & Analysis as of September 25, 2024

American Taxpayer Relief Act

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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 -

Maryland And Federal Estate Tax Portability In A Nutshell

Dunlap Bennett & Ludwig PLLC on 7/14/2023

In the technology world, portability has become increasingly important as people become more mobile and reliant on a variety of devices to access and use information. Portability allows individuals to work remotely or while...more

In Pursuit of Portability

Stinson LLP on 11/27/2017

The concept of portability, permanently enacted as part of the amendments to the estate tax law under the American Taxpayer Relief Act of 2012, allows the deceased spousal unused exclusion amount (DSUEA) of a decedent to be...more

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/22/2016

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

Planning for the $5-$10 Million Couple: Portability or Credit Shelter?

Butler Snow LLP on 5/18/2016

In 2009, each individual had a $3.5 million estate tax exemption. If a married individual had assets over $3.5 million, without careful planning, those assets in excess of $3.5 million would fall subject to a 45% estate tax....more

The Future of Credit Shelter Trusts

McNees Wallace & Nurick LLC on 5/5/2016

When the President signed the American Taxpayer Relief Act of 2012, some observers thought that certain provisions would sound the death knell for a popular legal tax shelter strategy known as Credit Shelter Trusts (CST)....more

Insight on Estate Planning - Year End 2013: Can portability help preserve retirement benefits?

Adler Pollock & Sheehan P.C. on 11/22/2013

The American Taxpayer Relief Act of 2012 (ATRA) made the estate tax exemption “portability” feature permanent. This allows a surviving spouse to take advantage of a deceased spouse’s unused federal gift and estate tax...more

Insight on Estate Planning - Year End 2013

Adler Pollock & Sheehan P.C. on 11/20/2013

In This Issue: - State death taxes can be hazardous to your estate - Can portability help preserve retirement benefits? - Provide for family members with special needs using an SNT - Estate...more

Insight on Estate Planning - February/March 2013: Fiscal cliff deal brings some certainty to estate planning

Adler Pollock & Sheehan P.C. on 2/20/2013

Congress’s eleventh-hour deal to avert the “fiscal cliff” produced the American Taxpayer Relief Act of 2012 (ATRA). The act focuses on income taxes, but it also provides much-needed certainty for people engaged in estate...more

Estate Planning After the American Taxpayer Relief Act

Poyner Spruill LLP on 2/11/2013

Congress adopted the American Taxpayer Relief Act (the Act), effective January 1, 2013. The Act made permanent tax rates and exemptions for estate, gift, and generation-skipping transfer (GST) taxes. Prior laws incorporated...more

Alert: Estate Planning - January 2013

Pullman & Comley, LLC on 2/5/2013

For the first time in more than a decade, clients and advisors can plan their estates with a significant degree of certainty. The new tax law passed by Congress on January 1, 2013 and signed into law by President Obama...more

The Estate Planner - January/February 2013

Shumaker, Loop & Kendrick, LLP on 1/31/2013

In This Issue: - Tax deal reshapes estate planning landscape - Are your children prepared to handle your wealth? - Planning your digital legacy - Estate Planning Red Flag: You’re married and relocating into or out...more

2013 Estate Planning Update

McCarter & English, LLP on 1/30/2013

As 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the...more

Estate Planning & Federal Tax Update - Winter 2013

Spilman Thomas & Battle, PLLC on 1/21/2013

With the American Taxpayer Relief Act of 2012 (the “ATRA ”) passed and the fiscal cliff safely averted, the time has come to turn your attention to your estate plan. What Did the ATRA Accomplish? The fiscal cliff...more

Estate Planning Implications of the Fiscal Cliff Deal

Patterson Belknap Webb & Tyler LLP on 1/15/2013

After a last-minute deal to avoid the fiscal cliff was passed by Congress on January 1, 2013, President Obama signed into law the new American Taxpayer Relief Act (“ATRA 2012”) on January 2, 2013. ATRA 2012 extends...more

Significant Estate Planning Developments in 2013

Foley & Lardner LLP on 1/10/2013

The American Taxpayer Relief Act of 2012 (Act) was enacted on January 2, 2013....more

Wealth Management Update Newsletter - January 2013

Proskauer Rose LLP on 1/10/2013

We Didn't (Quite) Fall off the Cliff, But We Still Have To Clean up the Mess! When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working...more

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