GST, Generation-Skipping Transfer, Gift Tax

Prepare for Soaring Estate and Gift Tax Exclusions and GST Tax Exemption to Close After 2025

McDermott Will & Emery on 1/18/2024

On January 1, 2024, the amounts that individuals can gift free of federal gift and generation-skipping transfer (GST) tax rose to $13,610,000 for individuals and $27,220,000 for married couples due to inflation adjustments....more

Proposed Resurrection of the Common Law Rule against Perpetuities—At Least for GST Tax Purposes

Blank Rome LLP on 6/8/2023

There is one common law rule that haunts most law students, and many legal practitioners: “no interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the...more

IRS Announces Increases to Estate, Gift and Generation Skipping Transfer Tax Amounts for 2023

Saiber LLC on 11/3/2022

The basic exclusion amount is the total amount that an individual may pass by gifts made during his or her lifetime or by devises and bequests at his or her death without liability for federal estate, gift or generation...more

Let the Estate Tax Planning Games Begin - But Where Will They Land - the House Ways and Committee Has Spoken

Proskauer Rose LLP on 9/17/2021

“President Biden and Democrats in the Congress have been working on a $3.5 trillion spending and tax package, and the details are starting to be revealed. Indeed, on Sunday, September 12th, the House Ways and Means Committee...more

Possible Limited Duration of Increased Wealth Transfer Tax Exemptions Strongly Encourages Immediate Action

Arnall Golden Gregory LLP on 9/8/2020

The current tax laws, which took effect on January 1, 2018, temporarily double the estate, gift, and generation-skipping transfer (GST) tax exemptions from $5 million (adjusted annually for inflation) to $10 million (also...more

Using Spousal Lifetime Access Trusts to Lock in High Estate Tax Exemption Amounts

Stoel Rives LLP on 8/27/2020

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

Looking Ahead to 2021 with a Focus on Your Estate Plan

Patterson Belknap Webb & Tyler LLP on 8/12/2020

We are just past the midpoint of a year like no other. Many aspects of our lives have been challenged and reconfigured, with even more changes a certainty. Depending upon the outcome of the election in November, significant...more

2020 Estate And Gift Tax Update

Cole Schotz on 11/15/2019

On November 6, the IRS announced the official estate and gift exclusion amounts for 2020 in Revenue Procedure 2019-44. For an estate of any decedent dying during calendar year 2020, the applicable exclusion is increased from...more

Estate Tax Changes Past, Present, and Future March 2019

McGuireWoods LLP on 3/6/2019

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

Estate Tax Changes Past, Present and Future October 2018

McGuireWoods LLP on 10/1/2018

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

Estate Tax Changes Past, Present and Future September 2018

McGuireWoods LLP on 9/17/2018

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

Estate Tax Changes Past, Present and Future July 2018

McGuireWoods LLP on 7/6/2018

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

Estate Tax Changes Past, Present, and Future (Updated)

McGuireWoods LLP on 6/5/2018

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

Estate Tax Changes Past, Present and Future

McGuireWoods LLP on 4/20/2018

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

Estate Tax Changes Past, Present and Future

McGuireWoods LLP on 4/10/2018

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

2018 Annual Gift Tax Exclusion

Dickinson Wright on 3/19/2018

Under the new tax law enacted effective January 1, 2018, Congress doubled the gift, estate and generation-skipping transfer (GST) exemptions. Based on inflation adjustment information available at that time, those amounts...more

Estate Tax Changes Past, Present, and Future (Updated)

McGuireWoods LLP on 2/5/2018

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

Estate Tax Changes Past, Present and Future (Updated)

McGuireWoods LLP on 1/31/2018

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

Estate Tax Changes Past, Present, and Future

McGuireWoods LLP on 12/13/2017

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

Estate Tax Changes Past, Present, and Future

McGuireWoods LLP on 12/1/2017

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

Estate Tax Changes Past, Present, and Future

McGuireWoods LLP on 11/8/2017

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

Estate Tax Changes Past, Present, and Future

McGuireWoods LLP on 10/27/2017

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

Estate Tax Changes Past, Present and Future

McGuireWoods LLP on 10/10/2017

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

Estate Tax Changes Past, Present, and Future

McGuireWoods LLP on 10/2/2017

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

2017/2018 Estate And Gift Tax Update

Cole Schotz on 9/15/2017

Experts have started to calculate the inflation adjustments to key estate and gift exemption amounts for 2018. Note that these are not the official figures to be released by the IRS, but should be used as a guide. The IRS...more

Goods and Services Tax › Generation-Skipping Transfer › Gift Tax

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