News & Analysis as of September 22, 2024

Same-Sex Marriage › Generation-Skipping Transfer

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Same-sex marriage refers to marriage between two individuals of the same sex. Historically, such marriages have not been legally recognized. However, there has been a growing trend to expand marriage rights to same-sex couples. The United States Supreme Court addressed aspects of this issue in Windsor v. United States and Hollingsworth v. Perry. less -

IRS Allows Same-Sex Spouses to Recover Certain Transfer Tax Exemptions

Williams Mullen on 1/25/2017

The Internal Revenue Service recently released IRS Notice 2017-15 to provide special procedures for spouses in a same-sex marriage, or the executor of a same-sex spouse, to recalculate their gift and estate tax applicable...more

Same-Sex Spouses Authorized to Recalculate Transfer Tax Treatment of Prior Gifts and Bequests

BakerHostetler on 1/23/2017

The IRS recently issued Notice 2017-15 to provide same-sex spouses relief to recalculate the federal estate, gift and generation-skipping transfer (GST) tax treatment of gifts and bequests made before the Defense of Marriage...more

Wealth Management Update - October 2016

Proskauer Rose LLP on 10/1/2016

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

2013 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/29/2013

In this issue - - Federal Estate, GST and Gift Tax Rates - Annual Gift Tax Exclusion - Federal Income Tax Rates - President’s Budget Proposal for Fiscal Year 2014 - Important Planning...more

Estate Planning Opportunities Arising from Recent Landmark Supreme Court Decisions Concerning Marriages of Same-Sex Couples

Katten Muchin Rosenman LLP on 7/1/2013

On June 26, 2013, the US Supreme Court (the “Supreme Court”) struck down Section 3 of the federal Defense of Marriage Act (DOMA) as unconstitutional in the case of United States v. Windsor (“Windsor”). In a related case, the...more

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