News & Analysis as of

Internal Revenue Code (IRC) Generation-Skipping Transfer Tax Planning

Proskauer Rose LLP

Wealth Management Update - May 2025

Proskauer Rose LLP on

The May 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is the same as the April 2025 Section 7520 rate...more

ArentFox Schiff

The Big Six Items That Family Offices Need to Consider in 2025

ArentFox Schiff on

Across all industries, family offices and their owners and management teams face rapidly evolving challenges, opportunities, and risks in the dynamic environment that is 2025. Here are six issues that family offices should...more

Offit Kurman

Death Tax Repeal Act

Offit Kurman on

On February 13, 2025, Republican lawmakers in Congress introduced the Death Tax Repeal Act, which aims to permanently eliminate the federal estate tax. Since 2015, various legislative efforts to repeal the estate, gift, and...more

Hinckley Allen

Understanding 2024 Estate, Gift, and Generation-Skipping Transfer Tax Exemptions

Hinckley Allen on

Each year, certain estate, gift, and generation-skipping transfer (“GST”) tax figures are subject to inflation adjustments that go in effect on January 1. Below are the current adjustments for 2024....more

Pillsbury Winthrop Shaw Pittman LLP

Estate and Tax Planning 2023 Update: Act While You Can

Although the IRS is now on high alert for wealthy individuals, new and existing planning opportunities are available, such as tax-free gifts and other advantageous planning. Wealthy individuals and families should take...more

Ward and Smith, P.A.

"Generation-Sharing" - Tax Planning That Benefits the Entire Family

Ward and Smith, P.A. on

Historically, only the very wealthy engaged in generation-skipping estate planning. Families and individuals who do not think of themselves as "very wealthy," however, also can reap significant benefits from this type of...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

Pillsbury Winthrop Shaw Pittman LLP

Potential Tax Law Overhauls in 2021: Summary and Planning Recommendations

Advance planning in light of the proposed tax law changes included in the For the 99.5 Percent Act, STEP Act and the Biden Administration’s Green Book. Proposed tax law changes introduced this year provide valuable insight...more

Lathrop GPM

Trusts, Estates and Legacy Planning Updates – Fall 2020

Lathrop GPM on

Impact of the Election on Current Transfer Tax Laws - The results of the upcoming presidential and congressional elections may impact current transfer tax laws. From a policy and political standpoint, historically the...more

Proskauer Rose LLP

Personal Planning Strategies - September 2018

Proskauer Rose LLP on

With over a century of combined experience, the lawyers of Proskauer's Private Client Services Department regularly provide their diverse clientele – from business entrepreneurs and corporate executives to sports figures and...more

Dickinson Wright

Planning for 2018

Dickinson Wright on

Even if Congress fails this autumn to overhaul the Internal Revenue Code and, conceivably, repeal the federal “death” or estate tax, 2018 can be expected to bring relief in the form of taxpayer-friendly inflation adjustments....more

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