Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino
Once Removed Episode 18: The Reciprocal Trust Doctrine
Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Once Removed Episode 17: Annual Gifting to Individuals: Options, Opportunities and Pitfalls
To Give or Not to Give: Considerations for Year-End Gifting
In a significant legislative shift, the Tax Cuts and Jobs Act of 2017 doubled the exemption amounts for estate, gift, and generation-skipping transfer taxes (collectively known as “Death Taxes”). As of 2024, the federal...more
The IRS has announced the official estate and gift exclusion amounts for 2024. For an estate of any decedent dying during calendar year 2024, the Federal applicable exemption will increase from $12.92 million to $13.61...more
This chart is maintained for the McGuireWoods LLP Website and is updated regularly. Any comments on the chart or new developments that should be reflected on the chart may be sent to cfox@mcguirewoods.com. ...more
...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
Presented by Cohen Seglias attorney Whitney Patience O'Reilly on December 15, 2020. As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any...more
The federal gift, estate and generation-skipping transfer (GST) tax exemptions are at an all-time high—currently $11.58 million for individuals and $23.16 million for married couples—but may not remain so for long. Some...more
While the safety of your family is of first priority, the current health and economic crisis caused by COVID-19 raises issues and presents estate planning opportunities for your consideration....more
The federal estate tax (sometimes called the death tax) is a one-time tax that is imposed at death. If you die with a certain dollar amount of assets, an estate tax return may be required and a tax may be due. If a return is...more
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
This State Death Tax chart is maintained for the McGuireWoods LLP Website and is updated regularly. ...more
This chart is maintained for the ACTEC Website and is updated regularly. ...more