NGE On Demand: GRAT Trusts with Eric Mann
Financial markets, political moods, and the world-at-large can take us on a roller coaster ride of ups and downs. But savvy investors (and their estate planning counsel) know that – in the end – neither the bears nor bulls...more
The federal gift, estate and generation-skipping transfer (GST) tax exemptions for 2024 are historically high and present significant tax-free gifting opportunities next year.The gift and estate tax exemptions will increase...more
September 2023 AFRs and 7520 Rate - The September 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, which was the same as the August 2023 rate...more
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
There are more estate planning opportunities as a result of inflation-adjusted figures recently released by the IRS. The gift, estate, and generation-skipping transfer (“GST”) tax exemption amounts are each increasing to...more
One can hardly miss the high levels of inflation currently affecting our economy. Even for those who do not pay close attention to the news, where inflation could hardly be more covered, the price of nearly everything for...more
July 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs The July applicable federal rate (“AFR”) for use with a sale to a defective grantor trust,...more
Our annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2022 by our clients and friends in California. Perhaps the most important recent development was the failure...more
It was quite a week, wasn’t it?- Manchin- Senator Manchin continued to attract a lot of attention. To the dismay of his fellow Democrats, the West Virginian – who also chairs the Senate Energy and Natural Resources...more
The House Committee on Ways and Means has proposed a tax plan intended to fund President Joe Biden's "Build Back Better" $3.5 trillion infrastructure program. Among the many changes in this proposed tax plan are three that...more
On September 13, 2021, the House Ways and Means Committee Chairman announced the Committee’s plan to pay for the $3.5 trillion Build Back Better Act (the “Act”). The Act has measures to combat the climate crisis, create jobs,...more
The House of Representatives Ways and Means Committee Chairman introduced new tax proposals on Monday that would raise more than $2 trillion in tax revenue as part of the Democrats’ effort to roll back the Trump...more
As many people are aware, Congress is considering changes to the federal tax code to support President Biden’s Build Back Better spending plan. As of this writing, on September 22, 2021, no bill has been enacted....more
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
Recent news stories have been published about two bills introduced in the Senate that, if enacted, could have a significant impact on many estate plans. These bills include proposed changes that many estate planning...more
On March 25, 2021, Senator Bernie Sanders introduced the For the 99.5 Percent Act (the “99.5 Percent Act”) which proposes to modify the estate, gift and generation-skipping transfer tax. Proposed Estate and Gift Tax Rates...more
On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more
With a new Administration in town there are rumors everywhere about the “new Estate Taxes” and the “Loss of our Tax Exemptions”. What should you expect? What should you do to plan and prepare for possible changes?...more
In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more
Now may be an opportune time to gift assets out of your estate, particularly through an estate planning technique known as the Grantor Retained Annuity Trust (“GRAT“)—a small silver lining of the alarming pandemic and down...more
It has been said that you can predict anything but the future. So it is with estate and tax planning. That being said, let’s look to see what some of the tax law changes might be in 2021 and beyond....more
The COVID-19 pandemic has disrupted our lives and shifted our priorities in an unprecedented manner. Against this backdrop of uncertainty, though, opportunities in estate planning abound. Basic planning documents, such as...more
The current estate planning environment, with low interest rates and high estate, gift, and generation-skipping transfer tax exemptions, provides excellent planning opportunities for wealth transfer tax savings. ...more
On December 22, 2017, the President signed a major change to federal tax law that contains many provisions affecting individuals, estates, and trusts. While the impetus behind the change was simplification, as some unnamed...more
December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more