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Income Taxes › Revocable Trusts

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Allen Barron, Inc.

The Step Up Benefit of a Revocable Trust

Allen Barron, Inc. on

What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? ...more

Blank Rome LLP

2020 California Estate and Tax Planning Newsletter

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Blank Rome’s annual estate and tax planning newsletter addresses certain concepts and techniques that should be considered in 2020 by our clients and friends in California. Perhaps the most important and troublesome...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries August 2019

McGuireWoods LLP on

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: Smith...more

Blank Rome LLP

2019 Estate and Tax Planning Newsletter

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Blank Rome’s annual estate and tax planning newsletter addresses estate planning concepts and techniques that should be considered in 2019 by our clients and friends. 1. Transfer Taxes. The major changes made in 2010 in...more

Ward and Smith, P.A.

Warning: $10 Million Estate Tax Exemption Can Overfund Trusts at Death and Harm Your Surviving Family

Ward and Smith, P.A. on

Congress's recent increase in the federal estate, gift, and generation-skipping transfer ("GST") tax exemption to $10 million per person adjusted annually for inflation ($11.18 million in 2018) is a welcome sweetener for many...more

Dickinson Wright

When to Gift – Now or Later? (The Step-Up in Basis Dilemma)

Dickinson Wright on

The estate and gift tax exemption was raised to $11,180,000 per person for 2018, and will increase based on inflation each year until 2026 when it will return to the amount before it was increased (approximately $6,000,000),...more

Skadden, Arps, Slate, Meagher & Flom LLP

Impact of New US Tax Law on High Net Worth Individuals, Trusts and Family Offices

Skadden, Arps, Slate, Meagher & Flom LLP on

The newly enacted U.S. tax law makes significant changes to provisions of the Internal Revenue Code affecting high net worth individuals, their investment entities and family offices. These changes are likely to spur gift...more

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

Tax Reporting for Grantor Trusts

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

Typically, a trust must file a separate income tax return for each calendar year. However, for most grantor trusts, filing a separate tax return is optional. The general rule and the alternative methods of reporting are...more

Stoel Rives LLP

Seattle’s New Income Tax May Affect Many More People Than Initially Thought, Including People Living Outside the City

Stoel Rives LLP on

When Seattle passed its new income tax on July 10, many Washingtonians took note, but quickly moved on. The tax appeared to apply only to Seattle residents earning more than $250,000 for individuals or $500,000 for married...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Proskauer Rose LLP

Wealth Management Update - October 2016

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October Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Proskauer Rose LLP

Wealth Management Update - June 2016

Proskauer Rose LLP on

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on

In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

Proskauer Rose LLP

Wealth Management Update Newsletter - January 2013

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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

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