News & Analysis as of September 19, 2024

Tax Planning

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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 -

Revised Tax Legislation Proposal No Longer Includes Certain Estate and Gift Tax Provisions

Goodwin on 11/3/2021

Certain revenue-raising proposals that would have affected the transfer tax regime and estate planning of high-net-worth individuals and trusts, which were included in the prior proposed bill in the House of Representatives,...more

U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted

Goodwin on 9/30/2021

The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for high net worth individuals if enacted. Gift, estate and GST exemption amounts would be decreased; grantor trusts would...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

Estate Planning Alert - Legislative Proposals Could Significantly Impact Estate Planning Options

Tucker Arensberg, P.C. on 9/23/2021

Last week, the House Ways and Means Committee released proposed legislation affecting numerous transfer and income tax provisions of the Code. These changes, if enacted, will have a significant impact on estate planning and...more

Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on 9/20/2021

On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process. The legislation, as approved by the...more

American Families Plan and Real Estate Investments – 1031 Exchanges

Whitman Legal Solutions, LLC on 6/1/2021

This article is part of a series discussing how the American Families Plan might affect real estate investments. Previous articles discussed how the American Families Plan proposes eliminating the stepped-up basis for many...more

For The 99.5% Act – Is Change a Coming for the Estate Planning World?

Bilzin Sumberg on 3/26/2021

On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more

What is the Nisi Period?

Burns & Levinson LLP on 9/20/2019

According to the Massachusetts divorce statute: Judgments of divorce shall in the first instance be judgments nisi, and shall become absolute after the expiration of ninety days from the entry thereof, unless the court...more

Trust and Estate Planning 2017 Year End Update

Kramer Levin Naftalis & Frankel LLP on 12/4/2017

As we approach the end of the year, we thought you would find it useful to have the following summary of recent developments and updates that may affect your trust and estate planning....more

Personal Planning Strategies - December 2017

Proskauer Rose LLP on 11/22/2017

2018 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

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