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Estate Planning › Tax Reform › Tax Rates

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... more +
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 -
Foster Garvey PC

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

Foster Garvey PC on

...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

Winstead PC

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

Winstead PC on

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...more

Katten Muchin Rosenman LLP

Proposed Tax Legislation Would Dramatically Impact Private Wealth Planning

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The House Ways and Means Committee recently proposed new draft federal tax legislation that would dramatically affect the Private Wealth area. Many of the changes are time sensitive. Thankfully, unlike previously publicized...more

Greenberg Glusker LLP

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

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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

Proskauer Rose LLP

Let the Estate Tax Planning Games Begin - But Where Will They Land - the House Ways and Committee Has Spoken

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“President Biden and Democrats in the Congress have been working on a $3.5 trillion spending and tax package, and the details are starting to be revealed. Indeed, on Sunday, September 12th, the House Ways and Means Committee...more

Polsinelli

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

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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

Goulston & Storrs PC

Wealth Planning and the New Administration: Potential Individual Income & Transfer Tax Changes

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On April 28, 2021, in an address to a Joint Session of Congress and a Fact Sheet published by the White House, President Biden introduced the “American Families Plan,” the President’s plan for spending and a series of tax...more

Ward and Smith, P.A.

A Farewell to the Current Gift and Estate Tax Exemption?

Ward and Smith, P.A. on

We recently wrote about a window of opportunity to take advantage of the rising estate and gift tax exemption before it sets. It is becoming clearer that the window may be shutting fast. The opportunity to take advantage...more

Lasher Holzapfel Sperry & Ebberson PLLC

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

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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

Downs Rachlin Martin PLLC

Trusts and Estates 2021 Tax Update

Downs Rachlin Martin PLLC on

Potential Acceleration of Federal Estate Tax Exemption Decrease and Increase of Income Tax Rates - Now that the votes have been counted and our government has transitioned to a new administration, significant tax changes...more

Skadden, Arps, Slate, Meagher & Flom LLP

Biden’s Tax Proposals and Estate Planning

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Democratic presidential nominee Joe Biden has provided limited information about his plans to modify the tax treatment of decedents and their estates. However, he has signaled that he supports raising estate taxes and...more

Coblentz Patch Duffy & Bass

2020 Tax Planning: Techniques that May Not Exist in 2021

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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

Polsinelli

IRS Confirms No “Clawback” for Gifts Made Under the Increased Estate and Gift Tax Exclusion

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On November 26, 2019, the Treasury Department and the IRS issued final regulations under IR-2019-189 confirming that there will be no “clawback” for gifts made under the increased estate and gift tax exclusion put in place by...more

Katten Muchin Rosenman LLP

2019 Year-End Private Wealth Advisory

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In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more

Verrill

2018 Year-End Estate Planning Update

Verrill on

Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Polsinelli

Impact of New Tax Laws on Estate Planning

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The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2018

Adler Pollock & Sheehan P.C. on

In This Issue: - Sudden impact: When a spouse unexpectedly dies - New tax law affects estate planning strategies - All in the family: Transferring your vacation home - Estate planning pitfall: You haven’t planned for...more

Blank Rome LLP

Estate Planning under the New Tax Law

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This client alert is part of a special series on the Tax Cuts and Jobs Act and related changes to the tax code, where Blank Rome’s lawyers share their analysis of different provisions in the Act and how they may affect you...more

Perkins Coie

2018 Key Trust & Estate Planning and Corporate Ownership Implications of the New Tax Law

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With the passage of Public Law no. 115-97, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act), attorneys in Perkins Coie’s Trust & Estate Planning practice, along with our clients running closely...more

Davis Wright Tremaine LLP

Trump Administration Signs 2017 Tax Act

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On December 22, 2017, President Trump signed a tax bill that had been passed by the Senate and House called “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for...more

Arnall Golden Gregory LLP

Private Wealth Newsletter - Significant Changes to Estate, Gift, and Generation-Skipping Transfer Taxes

Arnall Golden Gregory LLP on

The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more

Stinson LLP

What You Should Know About Estate and Gift Tax Reform

Stinson LLP on

The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially curtails its reach. The new tax legislation represents a dramatic change to our transfer tax...more

Ballard Spahr LLP

Impact on Gift, Estate, and GST Taxes Under the Tax Cuts and Jobs Act (H.R. 1)

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The tax law known as the Tax Cuts and Jobs Act (H.R. 1), signed by President Trump on December 22, 2017, contains important changes to provisions governing gift, estate, and generation-skipping transfer (GST) taxes...more

Patterson Belknap Webb & Tyler LLP

Effect of the Tax Cuts and Jobs Act on Trust and Estate Planning

Patterson Belknap Webb & Tyler LLP on

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more

Kramer Levin Naftalis & Frankel LLP

Impact of the Tax Law on Estate Planning

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President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018....more

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