Throughout 2021, Congress and the Executive Branch proposed tax code changes that – had they ultimately passed – would have significantly changed various estate planning techniques. Some proposals would have sidelined a...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
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 general goal of estate planning is to transfer assets or future appreciation at little to no tax cost. With the current federal estate tax exemption of $11,580,000 per person, a lot of individuals do not need to engage...more
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
Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more
As our clients know from our prior alerts, the last few years have seen unprecedented changes in the federal tax on gifts and bequests. One element of this was the unexpected increase in the federal gift and estate tax...more
Significant estate tax planning opportunities which are available under current legislation may be eliminated or severely restricted after December 31, 2012. It is therefore critical to evaluate whether steps should be...more