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Grantor Trusts Gift-Tax Exemption Income Taxes

McGuireWoods LLP

Once Removed Episode 18: The Reciprocal Trust Doctrine

McGuireWoods LLP on

This podcast often discusses the elements of a trust, and how to grant access, control and flexibility to beneficiaries and trustees. But for tax and other purposes, the donor typically cannot retain those kinds of powers. ...more

Greenbaum, Rowe, Smith & Davis LLP

The Implications for Estate Planning of Proposed Tax Provisions of the Build Back Better Act

What You Should Know •The House Ways and Means Committee has approved the tax provisions of President Biden’s Build Back Better Act, a significant first step towards passage. •If passed as drafted, the proposed...more

Winstead PC

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...more

Goodwin

U.S. House Proposals Would Significantly Impact Estate Planning for High Net Worth Individuals If Enacted

Goodwin on

The U.S. House Committee on Ways and Means’ tax proposals would significantly impact estate planning for high net worth individuals if enacted. Gift, estate and GST exemption amounts would be decreased; grantor trusts would...more

Sheppard Mullin Richter & Hampton LLP

Possible Changes to Estate and Gift Tax Law

Last week the House Ways and Means Committee released a draft of proposed tax law changes to include in a reconciliation bill. While it is uncertain whether any of these proposals will be adopted – and if so in what form –...more

Pullman & Comley, LLC

Proposed Tax Law Changes Impacting Estate and Gift Taxes

Pullman & Comley, LLC on

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

McDermott Will & Emery

Tax Reform Is Coming: What It Could Mean For You

McDermott Will & Emery on

The $3.5 trillion “Build Back Better” reconciliation spending program is currently working its way through the US Congress. On September 13, 2021, the US House of Representatives Committee on Ways and Means published its set...more

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more

Coblentz Patch Duffy & Bass

2020 Tax Planning: Techniques that May Not Exist in 2021

Major tax reform discussions are ongoing in Washington and Sacramento while everyone at home is busy navigating the pandemic. Many commentators are predicting that budgetary pressures resulting from the COVID-19 stimulus...more

Ward and Smith, P.A.

Is it Time to "Use it or Lose it?"

Ward and Smith, P.A. on

In the wake of COVID-19, we may see significant statutory changes to the federal estate, gift, and generation-skipping transfer tax exemptions. Spousal Lifetime Access Trusts and other planning techniques provide...more

Proskauer Rose LLP

Personal Planning Strategies - July 2015

Proskauer Rose LLP on

Income Tax Considerations of Estate Planning Are More Important Than Ever - Gifting assets during life will reduce the size of your taxable estate at death and, correspondingly, reduce your estate tax liability. But with...more

Katten Muchin Rosenman LLP

Estate Planning After the Fiscal Cliff Deal

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

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