News & Analysis as of

Tax Rates Estate Planning

Transfer Tax Considerations Under the Tax Cuts and Jobs Act

by Holland & Knight LLP on

• The U.S. House of Representatives and Senate ushered H.R. 1, the Tax Cuts and Jobs Act (the Act), through conference committee, and President Donald Trump signed the Act into law on Dec. 22, 2017. • Most of the Act's...more

Private Wealth Newsletter - Significant Changes to Estate, Gift, and Generation-Skipping Transfer Taxes

The recently-enacted Tax Cuts and Jobs Act significantly changes the tax landscape, beginning on January 1, 2018. Many of these changes will sunset on January 1, 2026, when the law reverts to the pre-2018 law. Congress could,...more

What You Should Know About Estate and Gift Tax Reform

by Stinson Leonard Street on

The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially curtails its reach. The new tax legislation represents a dramatic change to our transfer tax...more

Impact on Gift, Estate, and GST Taxes Under the Tax Cuts and Jobs Act (H.R. 1)

by Ballard Spahr LLP on

The tax law known as the Tax Cuts and Jobs Act (H.R. 1), signed by President Trump on December 22, 2017, contains important changes to provisions governing gift, estate, and generation-skipping transfer (GST) taxes...more

Effect of the Tax Cuts and Jobs Act on Trust and Estate Planning

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, includes significant changes to the U.S. federal gift, estate, and generation-skipping transfer (GST) tax laws, effective as of January 1, 2018. In addition,...more

Impact of the Tax Law on Estate Planning

President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018....more

Tax Cuts and Jobs Act Ushers in Big Changes to the Estate and Gift Tax

by Hodgson Russ LLP on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law. The new law will have a substantial impact on current estate plans and planning moving forward. Significantly, however, there will be...more

What the Final Tax Bill Means for Estate and Gift Tax Planning

by Barley Snyder on

The Tax Cuts and Jobs Act, which President Donald Trump signed into law Friday, is the most significant overhaul of the U.S. Tax Code in more than 30 years. Among the significant changes is an increase of the federal estate,...more

Tax Reform 101 – Estate Planning For High Net Worth Individuals

The new tax bill passed by Congress and signed into law by the President today has increased the amount individuals can transfer free of Gift, Estate and Generation Skipping Transfer (“GST”) taxes....more

New Tax Law Provides Major Estate and Gift Planning Opportunities

by Kelley Drye & Warren LLP on

On December 20, 2017, Congress delivered to President Trump the Tax Cuts and Jobs Act (the “Act”), which includes provisions that affect the Federal estate, gift and generation skipping transfer, or “GST”, taxes. ...more

Trust and Estate Planning 2017 Year End Update

As we approach the end of the year, we thought you would find it useful to have the following summary of recent developments and updates that may affect your trust and estate planning....more

A Pleasant Surprise

by Charles (Chuck) Rubin on

Many commentators expected that the new tax bill would pair the repeal of basis step-up at death with the repeal of the estate tax. They were pleasantly surprised to see that basis step-up at death remains unaltered under the...more

Treasury Plans to Pull Unpopular Discount Regulation

As discussed earlier this summer, Treasury and the IRS identified as a burdensome regulation the Proposed Regulations under Section 2704 of the Internal Revenue Code, which regulations would severely impact discounts on gifts...more

Update on 2704 Proposed Regulations and Impact on 2016 Gift Tax Reporting

by Dickinson Wright on

Following the December 1, 2016 public hearing, the IRS reportedly began working on revisions to and clarifications of the new 2704 proposed regulations. While the uproar from the estate planning and accounting communities...more

Potential Transfer Tax Reform and 2016 Year-End Tax Planning Considerations

by Holland & Knight LLP on

With the upcoming Republican control of the executive and legislative branches, tax changes are certain to occur. As articulated thus far, President-Elect Donald Trump has proposed the elimination of the federal estate tax in...more

Estate Planning NOW: Preparing for a New Government

by Lewitt Hackman on

It’s impossible to predict what any future president will do, or what Congress will approve. But in light of comments president-elect Donald J. Trump made on the campaign trail, and given that Grand Old Party members will...more

2016 Year-End Estate Planning Advisory

by 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

Time to Transfer Early Stage Investments?

by Jackson Walker on

New rules may stop “cheap” transfers of business interests to kids and grandkids. Proposed IRS regulations that may be effective as early as the end of 2016 are designed to severely limit use of discounts on gifts or sales...more

Hillary Clinton Advises of Changes She Would Make to the Estate Tax Rate

by Charles (Chuck) Rubin on

And its not downward – surprise! Last week, Hillary advised that she would like to move the highest estate tax rate from its current 40% to 65%. ...more

Understanding the Tax Consequences of Inheriting a Roth IRA

Passing down a Roth IRA can seem like a good idea, but it doesn't always make the most sense. Before converting a traditional IRA into a Roth IRA to benefit your heirs, you should consider the tax...more

Gifts to a Special Needs Trust Can Be Larger Than You May Think

The federal gift tax system is one of the most misunderstood concepts in special needs planning, and for good reason: it's incredibly complicated. This complexity has resulted in the propagation of one of the most common...more

Estate Planning Pitfall - You’re selling your interest in a charitable remainder trust

Recently finalized regulations eliminate a potential tax shelter involving the sale of an interest in a charitable remainder trust. This brief article offers an example of how the tax shelter worked before the new regs and,...more

2013 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

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 Implications of American Taxpayer Relief Act of 2012

The American Taxpayer Relief Act (the Act), which was passed by Congress on January 1, 2013 and signed into law by President Obama on January 2, has finally provided some permanence to the transfer tax laws....more

The 2010 Tax Relief Act and your estate plan

by Partridge Snow & Hahn LLP on

In early 2012, Kathi Ryan addressed the 2010 Tax Relief Act and your estate planning documents....more

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