News & Analysis as of September 22, 2024

Fiscal Cliff › Grantor Retained Annuity Trusts (GRATs)

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Fiscal Cliff is a non-technical economic term used popularly to describe a series of tax increases and mandatory budget cuts set to occur at the beginning of 2013. The term "cliff" refers to the idea that such increases and cuts would be catastrophic to the fragile economy and consequently, force the economy off of a metaphorical cliff. less -

2013 Estate Planning Update

McCarter & English, LLP on 1/30/2013

As 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the...more

Estate Planning & Federal Tax Update - Winter 2013

Spilman Thomas & Battle, PLLC on 1/21/2013

With the American Taxpayer Relief Act of 2012 (the “ATRA ”) passed and the fiscal cliff safely averted, the time has come to turn your attention to your estate plan. What Did the ATRA Accomplish? The fiscal cliff...more

Estate Planning After the Fiscal Cliff Deal

Katten Muchin Rosenman LLP on 1/17/2013

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

After the Fiscal Cliff — A Summary of the New Federal Gift and Estate Tax Law

Cole Schotz on 1/11/2013

Congress took the fiscal cliff negotiations over the brink but was finally able to reach a deal resulting in the American Taxpayer Relief Act of 2012 (“2012 Act”). The 2012 Act makes the estate and gift tax laws “permanent,”...more

Wealth Management Update Newsletter - January 2013

Proskauer Rose LLP on 1/10/2013

We Didn't (Quite) Fall off the Cliff, But We Still Have To Clean up the Mess! When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working...more

Ringing in the New Year with Revised Estate and Gift Tax Laws

Manatt, Phelps & Phillips, LLP on 1/9/2013

Congress has averted the so-called fiscal cliff by passing the "American Taxpayer Relief Act of 2012" (the "Act") on January 1, 2013, which President Obama signed into law the following day. The good news is we finally have...more

Fiscal Cliff Averted: Estate, Gift And GST Tax Changes

Pierce Atwood LLP on 1/5/2013

The country was heading for a “fiscal cliff” as the Bush-era tax cuts were scheduled to expire on January 1, 2013. But the U.S. Senate and House of Representatives voted in the final hours to make those tax cuts permanent...more

Extraordinary Estate and Gift Tax Planning Window Might Close Before the End of the Year

Brownstein Hyatt Farber Schreck on 7/2/2012

The very favorable estate and gift tax planning environment that currently exists could be nearing an end. This Client Alert will have special interest to anyone who has a sizable estate and wants to minimize their family’s...more

Estate Planning Opportunities Set to Expire in Six Months

Patterson Belknap Webb & Tyler LLP on 6/28/2012

The next six months provide a short window of opportunity to make substantial gifts without incurring any gift tax. The Federal gift tax exemption is currently $5,120,000, enabling an individual to make aggregate lifetime...more

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Fiscal Cliff › Grantor Retained Annuity Trusts (GRATs)

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