News & Analysis as of

Gift Tax 529 Plans

Adler Pollock & Sheehan P.C.

Have grandkids? Opening 529 Plan Accounts Can Benefit Them and Your Estate Plan

The cycle continues: Your adult children — one of the first generations to benefit from Section 529 plans — are saving for their kids’ college educations through 529 accounts of their own. Did you know that parents aren’t the...more

Roetzel & Andress

Saving for College While Also Saving for…Retirement?

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Thanks to changes in the SECURE 2.0 Act, saving for education can now also help save for retirement. Beginning in 2024, the beneficiary of a 529 education savings plan account may roll certain excess account assets directly...more

Seward & Kissel LLP

2022 Year-End and 2023 Planning

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As the year is drawing to a close, we offer you some general advice regarding year-end planning and updated inflation-adjusted figures for 2023. Annual Exclusion Gifts - In 2022, the annual exclusion amount is $16,000...more

Warner Norcross + Judd

Coordinate Saving for College with Your Estate Planning

Warner Norcross + Judd on

During our estate planning discussions, parents and grandparents often tell us about their hopes and dreams for the next generations of their families. Helping children and grandchildren achieve their full potential often...more

Adler Pollock & Sheehan P.C.

Family Education Trusts: Leave a Lasting Legacy For Your Heirs

Providing for the educational needs of your children, grandchildren and even future generations is an honorable estate planning objective. What are your options for achieving this goal? A 529 plan can be a highly effective...more

Chambliss, Bahner & Stophel, P.C.

529 Plan – A Double-Edged Sword for College Expenses and Estate and Gift Taxes

My daughter turns 17 this week. As you might imagine, college is a frequent topic of conversation at our house. Where should she go to college? Will she be accepted at her top choices? What should she study? And most...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Planning for College: Is a 529 Plan Right for You?

If you have children one of the things that you have likely thought about is how are you going to afford to send your child to college. The cost of attending college continues to rise, and as we continue to hear horror...more

Adler Pollock & Sheehan P.C.

To File or Not to File? A Gift Tax Return Doesn’t Always Have to be Filed.

Now that fewer people are subject to federal gift taxes, because of a generous $11.58 million lifetime gift tax exemption for 2020, a question many are asking is: “Do I need to file a gift tax return?” The short answer is...more

Burr & Forman

Tax Reform and Estate Planning: How the 2017 Tax Cuts and Jobs Act Impacts Estate Plans for McNair Clients

Burr & Forman on

When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more

Polsinelli

Impact of New Tax Laws on Estate Planning

Polsinelli on

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

Katten Muchin Rosenman LLP

The Tax Cuts and Jobs Act: Gift, Estate and Generation-Skipping Transfer Tax Reform

The Tax Cuts and Jobs Act (Act), passed at the end of 2017 by Congress and signed into law by President Trump on December 22, 2017, provides far-reaching changes to the federal tax landscape. Much has been written regarding...more

Ruder Ware

More Planning Tips for Individuals Under New Tax Act

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As Shanna Yonke mentioned in her January 22, 2018 Legal Update The New Tax Law Provides Estate Planning Opportunities, President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. The Act (officially,...more

Obermayer Rebmann Maxwell & Hippel LLP

Estate Planning is Still Important Even with the Passage of the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the Act) signed into law by President Trump on December 22, 2017 made sweeping changes that affect individuals, businesses, trusts and estates. This alert focuses on the impact of the Act on...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2018

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

Saul Ewing LLP

Major New Tax Law Changes That Affect Individuals

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The 2017 tax reform legislation colloquially referred to as the Tax Cuts and Jobs Act (the Act) made some significant changes in the taxation of individuals, and these changes have already begun to generate new planning...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

Patterson Belknap Webb & Tyler LLP

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

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

Pillsbury Winthrop Shaw Pittman LLP

Historic Estate Planning Opportunities from Tax Reform

The Tax Cuts and Jobs Act, providing extraordinary estate planning opportunities, was signed into law by the President on December 22, 2017. The new Act allows for a great opportunity to take advantage of increased...more

Dechert LLP

Proposed Tax Legislation - Highlights for Investment Funds

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The final version of the proposed Tax Cuts and Jobs Act (the “Act”) was released on December 15, 2017. This legislation, unless amended again, is expected to be voted on this week in the U.S. House of Representatives and the...more

McGuireWoods LLP

Estate Tax Changes Past, Present and Future

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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

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