News & Analysis as of September 19, 2024

Tax Rates

+ 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 -

Global Wealth, Local Laws: What 8 International Estate Planning Issues Should High-Net-Worth Individuals Consider?

Davidoff Hutcher & Citron LLP on 8/8/2024

Navigating International Estate Planning - Today, more and more people own property in more than one country, and that requires particular consideration when planning their estate. Traveling has become so easy that many...more

It’s Time to Take Another Look at the Stepped-Up Basis Rules

Adler Pollock & Sheehan P.C. on 2/6/2024

Thanks to a generous federal gift and estate tax exemption amount ($13.61 million for 2024), only the wealthiest of families are exposed to estate tax liability. For many, this means that estate planning now has a stronger...more

Death and Taxes – The Three Unavoidable Taxes in Estate Administration

Burns & Levinson LLP on 1/25/2024

Death and taxes are often jokingly said to be two of the only unavoidable things in life. Unfortunately, taxes are also unavoidable when someone passes away. When administering an estate or trust after someone’s death, three...more

Estate Planning 2024 Federal Tax Update

Lathrop GPM on 1/2/2024

As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information that may be helpful as you consider planning options for 2024. ...more

2023 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/21/2023

We have certainly had our share of turbulent waters in the estate planning world from 2020-2022. With two significant elections, it is hard to remember a previous time with such substantial uncertainty about how tax planning...more

IRS Announces 2024 Lifetime Estate and Gift Tax Exclusion & 2024 Annual Gift Tax Exclusion

Burns & Levinson LLP on 11/17/2023

The Internal Revenue Service recently announced the 2024 annual inflation adjustments to the lifetime exclusion for federal estate and gift tax (the “basic exclusion amount”) as well as the annual gift tax exclusion, among...more

2022 Year End Estate Planning Advisory

A&O Shearman on 12/15/2022

The current estate planning landscape is drastically different than it was at the beginning of this year. After an extended period of historically low rates of interest and inflation, this year the Federal Reserve began...more

Fall 2022 Estate Planning Update

Keating Muething & Klekamp PLL on 10/25/2022

This Estate Planning Update reviews the newly-released estate tax exemption and gifting adjustments for 2023, the extended deadline to make a portability election, and simple ways that business owners and professionals can...more

Estate Planning 2022 Federal Tax Update

Lathrop GPM on 1/4/2022

As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information that may be helpful as you consider planning options for 2022. Because Congress could pass legislation that changes...more

Updated 2022 Estate and Gift Tax Rates

Tucker Arensberg, P.C. on 11/29/2021

In Revenue Procedure 2021-45 (RP-2021-45 (irs.gov)), the Internal Revenue Service announced annual inflation-adjusted tax rates for 2022, including provisions concerning estate and gift taxes. Beginning in 2022, the...more

Significant Changes to Transfer Tax Rules May Not Come to Fruition

Greenberg Glusker LLP on 11/12/2021

The updated version of the Build Back Better Act released by the House Budget Committee on November 3, 2021, does not include any of the significant gift tax, estate tax, generation-skipping transfer tax or grantor trust...more

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on 10/15/2021

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...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

House Ways and Means Advances Draft Tax Legislation with Dramatic Impact on Estate, Gift and Trust Taxation

Greenberg Glusker LLP on 9/21/2021

Last week, the House Ways and Means Committee released, and advanced out of committee, draft tax legislation intended to form a part of the Democratic budget reconciliation bill. At almost 900 pages in length, this draft...more

Estate Planning Provisions of the New Tax Plan

Blank Rome LLP on 9/20/2021

On Monday, September 13, 2021, the House Ways & Means Committee released a draft tax plan which provides the clearest direction to date on how Democrats intend to use the estate and gift tax regimes to pay for part of the...more

Additional Guidance Issued for President Biden’s American Jobs and American Families Plan

Polsinelli on 6/8/2021

In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. Among the proposed changes included in the “American Families Plan” was the increase of the tax rate that...more

Federal Estate Tax Legislative Update

Lasher Holzapfel Sperry & Ebberson PLLC on 4/30/2021

Four months into the 117th United States Congress, the anticipated federal legislative proposals to restructure the federal estate tax are finally seeing the light of day. Senator Bernie Sanders and others recently...more

Thinking of Moving Abroad?

Adler Pollock & Sheehan P.C. on 4/27/2021

Consider the estate tax planning implications before relocating - Suppose you’re contemplating a bold move — literally: pulling up stakes and moving to a foreign country. There are many possible reasons for this drastic...more

Proposed Gift and Estate Tax Changes Mean Some May Need to Act Now

Ruder Ware on 4/9/2021

In the United States Congress, there is an arduous journey before a bill becomes law. See the classic School House Rock! video, “I’m Just a Bill.” But there is a common theme running through some gift and estate tax bills...more

Four Key Estate Planning Issues We're Following in 2021

Pullman & Comley, LLC on 3/8/2021

The past twelve months have demonstrated that a solid estate plan, which includes steps to protect your wealth, can help you feel better prepared and provide a sense of control during times of economic uncertainty. As we...more

New Year, New Uncertainties: Estate Planning Changes on the Horizon

Lasher Holzapfel Sperry & Ebberson PLLC on 2/8/2021

With Democrats gaining control of the White House, the House of Representatives, and, albeit somewhat tenuously, the Senate, there is a growing possibility of legislative changes to the federal estate tax laws to fulfill...more

Foreign Trust Distributions and Implications for U.S. Beneficiaries (And Don't Forget About the 65 Day Election)

Bilzin Sumberg on 1/13/2021

In my previous post, I discussed some of the relevant U.S. federal tax implications to consider when a foreign individual makes a gift of cash to a U.S. person. That discussion assumed that the gift was coming directly from...more

Planning for Retirement: How Attractive is Massachusetts for Estate Tax Planning?

Bowditch & Dewey on 10/5/2020

Massachusetts is already an unattractive state of residency from an estate tax planning perspective because of its low estate tax filing threshold of $1,000,000 per person. Once a person’s adjusted taxable estate is over $1M...more

Estate Planning and the Upcoming Elections

McNees Wallace & Nurick LLC on 9/16/2020

The upcoming federal elections are a reminder that estate plans should be reviewed frequently to make sure the plan carries out your wishes in a tax-efficient manner. You may want to revise your plan depending upon the...more

2020 Tax Planning: Benefits of GRATs

Coblentz Patch Duffy & Bass on 9/4/2020

Now may be an opportune time to gift assets out of your estate, particularly through an estate planning technique known as the Grantor Retained Annuity Trust (“GRAT“)—a small silver lining of the alarming pandemic and down...more

53 Results

View per page

Page: of 3

Estate Planning › Tax Planning › Tax Rates

"My best business intelligence, in one easy email…"