News & Analysis as of September 21, 2024

Internal Revenue Service

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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 -

Personal Planning Strategies - October 2020

Proskauer Rose LLP on 10/7/2020

Top Ten Estate Planning Recommendations before the End of 2020 - If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before...more

Estate Planning Considerations For Year End 2020

Goodwin on 9/30/2020

As the 2020 United States election and the end of the year approach, you may wish to consider making changes to your estate plan and/or making gifts to transfer assets to younger generations now. ...more

2019 Year-End Private Wealth Advisory

Katten Muchin Rosenman LLP on 11/26/2019

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

2018 Year-End Estate Planning Update

Verrill on 12/4/2018

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

Private Clients Update - Volume 2018, Issue 1

Troutman Pepper on 12/4/2018

Year-End Reminders For 2018, the estate, gift and generation-skipping transfer tax exemption is $11.18 million per person ($22.36 million for a married couple). ...more

Unified Credit for Estates & Annual Exclusions for Gifts Increased for 2018

Tucker Arensberg, P.C. on 10/20/2017

The IRS announced that the Unified Credit for Estates and Annual Exclusion for Gifts will be higher in 2018. Unified Credit Against Estate Tax. For an estate of any decedent dying in calendar year 2018, the basic...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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