News & Analysis as of September 22, 2024

Estate Planning › Property Tax

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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 -

Real Estate’s Role In Building Generational Wealth

Whitman Legal Solutions, LLC on 1/16/2024

The most basic real estate investment is a home; for many people, their home is their largest single asset. Since real estate historically has increased in value over time, buying a home can be a way to grow wealth while also...more

Estate and Income Tax Provisions in Pending Massachusetts Tax Relief Package

Nutter McClennen & Fish LLP on 10/2/2023

The Massachusetts House and Senate voted in favor of a Massachusetts tax relief bill. The legislation is now on Governor Maura Healey’s desk, and she has until October 8th to act. More than two decades have passed since the...more

Steps for the Long-term Success of Your Brand & Business

Farella Braun + Martel LLP on 9/6/2023

Family wineries face certain common issues when it comes to succession planning, and there are steps you can take to help ensure the longevity and success of your brand and business. Step 1 – Develop a Plan - Benjamin...more

Remember the Remainderman: Rights and Responsibilities of a “Life Tenant” in Washington State

Lasher Holzapfel Sperry & Ebberson PLLC on 4/18/2023

In the State of Washington, a life estate is a legal arrangement where a person, known as the “life tenant,” has the right to use and occupy a property for the duration of his or her life. The life tenant has all the same...more

No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond

Davis Wright Tremaine LLP on 5/4/2021

The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential...more

A Trustee’s Sale Says Nothing About a Property’s “Fair Market Value”

Patton Sullivan Brodehl LLP on 2/26/2021

Under California’s Revenue and Taxation Code, the purchase price of real property usually creates a rebuttable presumption regarding the property’s “fair market value.” However, for that presumption to apply, the sale must...more

Wealth Management Update - December 2020

Proskauer Rose LLP on 12/7/2020

December 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - Certain federal interest rates increased slightly for December of 2020, while...more

[Webinar] Estate Planning During Uncertain Times - September 22nd, 9:00 am - 10:00 am PT

Farella Braun + Martel LLP on 9/8/2020

Estate planning for vineyard and winery owners has come to the forefront during this unpredictable pandemic and in light of the upcoming general election. There may be things out of your control, but your estate plan isn’t...more

2020 Tax Planning: Techniques that May Not Exist in 2021

Coblentz Patch Duffy & Bass on 9/4/2020

Major tax reform discussions are ongoing in Washington and Sacramento while everyone at home is busy navigating the pandemic. Many commentators are predicting that budgetary pressures resulting from the COVID-19 stimulus...more

When Inheriting Real Estate, Consider Your Options

Chambliss, Bahner & Stophel, P.C. on 1/29/2020

Inheriting real estate from your parents is either a blessing or a burden -- or a little bit of both. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your...more

Demystifying Life Estate Deeds in Maryland

Rosenberg Martin Greenberg LLP on 5/10/2019

In Maryland, you can make a beneficiary designation on your real property. This type of transaction is called a Life Estate Deed. It can be a very useful tool to avoid probate while also preserving tax benefits. There are two...more

The BOE Death Trap: Avoid Property Tax Penalties on the Death of a Family Member

Coblentz Patch Duffy & Bass on 8/14/2017

In many cases California’s property tax rules automatically penalize insufficiently counseled individuals who inherit interests in real estate-owning legal entities from a family member upon their death. To avoid this...more

Personal Planning Strategies - December 2016

Proskauer Rose LLP on 12/6/2016

2017 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

Three Ways to Guard Heirs From Big Wine Realty Tax Bill

Farella Braun + Martel LLP on 5/9/2016

Estate-planning is often focused on reducing or eliminating estate tax at death. As the estate-tax exemption has increased in recent years — currently $5.45 million and counting — there is a shift to planning for income and...more

The family vacation home Relax — but don’t relax the rules

Adler Pollock & Sheehan P.C. on 12/4/2015

A shared family vacation home can be a great place for family bonding, but don’t get too relaxed. A little planning — together with some clear rules about the usage of the home — can go a long way toward avoiding conflict and...more

2013 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/29/2013

In this issue - - Federal Estate, GST and Gift Tax Rates - Annual Gift Tax Exclusion - Federal Income Tax Rates - President’s Budget Proposal for Fiscal Year 2014 - Important Planning...more

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Estate Planning › Property Tax

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