News & Analysis as of September 23, 2024

Trusts

+ Follow

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 Benefits of Advance Planning

Patterson Belknap Webb & Tyler LLP on 3/16/2022

Estate planning strategies for founders are typically focused on saving both income taxes and estate taxes. Income tax savings can be achieved by creating and funding multiple trusts with company stock that duplicate any...more

Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions

Farella Braun + Martel LLP on 9/29/2020

- Annual inflation-indexing continues to increase the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer taxes. Those of considerable wealth who have not yet made gifts, such as...more

Insight on Estate Planning - Year End 2016

Adler Pollock & Sheehan P.C. on 12/2/2016

In This Issue: - 6 estate planning techniques for blended families - If it’s broken, fix it! Trusts that no longer achieve their objective can be repaired - Preparing for a new year: Take time now for a quick...more

Transferee Liability: The [Unlikely] Situation that your Nonprofit Receives a Charitable Gift with Expensive Tax Strings Attached

Coblentz Patch Duffy & Bass on 10/12/2016

The case of Salus Mundi Foundation et al v. Commissioner - On August 15, 2016, the Tax Court decided in Salus Mundi Foundation et al v. Commissioner, T.C. Memo. 2016-154, that two foundations were liable as transferees...more

Parties Settle Closely Watched Tax Court Cases Involving Defined Value Clause

McGuireWoods LLP on 4/4/2016

The IRS and executors have settled two cases in the United States Tax Court involving members of the Woelbing family, who own Carma Laboratories, Inc., of Franklin, Wisconsin, the maker of Carmex skin care products, and a...more

5 Results

View per page