News & Analysis as of September 21, 2024

Gift Tax

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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 -

2024 Estate Planning Opportunities

Lasher Holzapfel Sperry & Ebberson PLLC on 2/21/2024

The start of a new year is a great time to review your current estate plan or consider creating one. 2024 brings a number of opportunities for creating an estate plan, pursuing gifting strategies, and considering...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

Disclaiming to Save Taxes

Rivkin Radler LLP on 11/6/2023

It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more

Three Estate and Gift Tax Strategies to Consider Before Selling Your Business

Warner Norcross + Judd on 8/10/2023

For a business owner considering the sale of their business, there are two competing goals: maximizing the proceeds from the sale and minimizing the estate and gift taxes that will be due on the owner’s enhanced estate....more

DWT Estate Planning Update

Davis Wright Tremaine LLP on 5/31/2023

From time to time, we provide updates in the estate planning area. While the November 2022 federal elections resulted in a divided Congress that dampens the likelihood of major federal tax legislation, we thought this would...more

Estate Planning Solutions for Year-End 2022 and Beyond

Husch Blackwell LLP on 12/6/2022

By most accounts, 2022 has been a tumultuous year from a planning perspective: the uncertainty of the midterm elections, stock market volatility, rising interest rates and the highest level of inflation in recent history have...more

Moving to the U.S.? Have You Planned for the Estate and Gift Taxes?

Rivkin Radler LLP on 8/23/2022

It is a fact that the phenomenon of human migration has been a major force in the history of the world. Indeed, among the themes that have remained constant during my years of practice, there are two that may be...more

Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller

Jones & Keller, P.C. on 4/6/2022

High-net worth individuals have an opportunity to take advantage of high transfer tax exemptions if they act fast. Set to expire in 2026, unless Congress acts sooner, the time is now to implement strategies that make the most...more

Personal Planning Strategies - September 2021

Proskauer Rose LLP on 9/22/2021

You have probably heard that the House Ways and Means Committee released proposals for increasing gift and estate taxes in order support legislation being advanced by the Democratic majority in Congress. ...more

$2.1 Trillion Reasons Why You Should Consider Estate Planning NOW

Husch Blackwell LLP on 9/21/2021

Key points •On Wednesday, September 15, The House Ways and Means Committee advanced a proposal for a $2.1 trillion tax increase. •The proposal could drastically change the gift and estate tax treatment of new...more

Impact Of President Biden’s Tax Plan On Estate Planning

Polsinelli on 7/26/2021

With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more

No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond

Davis Wright Tremaine LLP on 5/4/2021

The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential...more

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

McDermott Will & Emery on 11/9/2020

In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

McDermott Will & Emery on 10/22/2020

Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

The Time to Plan for Tax Code Changes Is Now

Rivkin Radler LLP on 10/19/2020

The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...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

Helping Clients Identify Estate Planning Opportunities in a Low Interest Rate and Depressed Value Environment

Foley & Lardner LLP on 3/31/2020

Today’s historically low interest rates and depressed asset values make this an excellent time to engage in various estate planning techniques. Current conditions present several planning opportunities for transferring wealth...more

Insight: Transfer Tax and Estate Planning Considerations for Clients with Cryptoassets (Part 1)

Alston & Bird on 1/22/2020

Cryptoassets make up a modern, rapidly expanding asset class that is challenging jurisdictions across the globe to come up with appropriate regulatory and tax regimes that fit its nuanced contours. Originally published in...more

Valuation Discounts in Modern Estate Planning

Downey Brand LLP on 1/9/2019

For most family business owners, the old way of discount planning has become perishable. For many years, closely-held business owners routinely heard estate planners advise them to give or sometimes sell family members’...more

Transfer Tax Considerations Under the Tax Cuts and Jobs Act

Holland & Knight LLP on 1/11/2018

• The U.S. House of Representatives and Senate ushered H.R. 1, the Tax Cuts and Jobs Act (the Act), through conference committee, and President Donald Trump signed the Act into law on Dec. 22, 2017. • Most of the Act's...more

Tax Law Uncertainty Should Not Delay Farming Business Succession Planning

Downey Brand LLP on 9/27/2017

President Trump promised and will pursue tax reform, but Congress must agree to any proposal. For the most part, a majority vote in both houses would allow tax reform for about a decade, and at least sixty Senate votes would...more

Estate Tax Changes Past, Present and Future

McGuireWoods LLP on 5/25/2017

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Why Care About Business Valuation? Part I

Farrell Fritz, P.C. on 5/16/2017

One word: “taxes.” There are so many transactions in which the tax consequences visited upon a closely-held business and its owners, and, therefore the true economic cost of the transaction, will depend upon the valuation of...more

2017 California Estate and Tax Planning Newsletter

Blank Rome LLP on 1/23/2017

Blank Rome’s annual estate and tax planning newsletter addresses estate planning concepts and techniques that should be considered in 2017 by our clients and friends. Transfer Taxes. The major changes made in 2010 in the...more

Ron Aucutt’s “Top Ten” Estate Planning and Estate Tax Developments of 2016

McGuireWoods LLP on 12/22/2016

In an always-anticipated annual tradition, Ronald Aucutt, a McGuireWoods partner and co-chair of the firm’s private wealth services group, has identified the following as the top ten estate planning and estate tax...more

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