News & Analysis as of September 22, 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 -

Don’t Give Your House to Your Children (While You’re Alive)

Rivkin Radler LLP on 1/2/2024

Many of us would like our children to inherit our home once we are gone. More than a few of us think it makes sense to give our home to our children while we are still living. That is not a good idea! Here’s why. Loss of...more

Unsure of Stepped-Up Basis? Here is a 5-Point Primer

Davidoff Hutcher & Citron LLP on 6/15/2023

Stepped-up basis is a tax law that applies to estate transfers when a person receives an asset from a giver after a benefactor passes away. In those circumstances, the asset receives a “stepped-up” basis – which is the market...more

Step-Up in Basis and Why It Matters in Estate Planning

Chambliss, Bahner & Stophel, P.C. on 1/12/2023

Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate planning or you may be inheriting assets,...more

Re-Evaluating Real Estate Dispositions Under the Biden Tax Plan

Whitman Legal Solutions, LLC on 4/12/2021

How Real Estate Investment is Like Buying Violins - Real estate investors also frequently gradually increase in size and price of their assets. A real estate investor might start small with a single duplex. When they sell...more

The Federal Estate Tax In 2021: What Might We Expect? What Can We Do?

Farrell Fritz, P.C. on 1/4/2021

Happy New Year? Ask anyone outside the United States what comes to mind when they think about an American New Year’s celebration, and the odds are pretty good they will mention the ball drop in New York City’s Times Square. ...more

2016 Year-End Trusts & Estates Update

Patterson Belknap Webb & Tyler LLP on 12/19/2016

As 2016 comes to a close, we would like to share with you a number of recent developments affecting trust and estate planning that may be of interest: Final regulations restricting valuation discounts unlikely to be...more

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