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Trusts Gift-Tax Exemption Estate Tax

Adler Pollock & Sheehan P.C.

Is Your Estate Plan Ready for Future Estate Tax Law Changes?

The year 2017, when the Tax Cuts and Jobs Act was signed into law, seems like a long time ago. As you may be aware, many of the tax provisions of that law are set to expire in a relatively short amount of time — on January 1,...more

Husch Blackwell LLP

Understanding the 2026 Changes to the Estate, Gift, and Generation-Skipping Tax Exemptions

Husch Blackwell LLP on

The Tax Cuts and Jobs Act of 2017 provided major changes to the Internal Revenue Code, specifically doubling the federal estate, gift, and generation-skipping transfer (GST) tax exemption (collectively, the exemption) from...more

McGuireWoods LLP

Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino

McGuireWoods LLP on

Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift...more

ArentFox Schiff

What Private Companies Need To Consider in 2024: Top 10 Legal Issues

ArentFox Schiff on

Private companies and their owners face ever-evolving challenges as the market sees new regulations, new deal trends, and new risks in 2024. Below are 10 issues that the owners and leaders of privately held companies should...more

Rivkin Radler LLP

Spousal Lifetime Access Trusts: A Way to Have Your Cake and Eat It Too

Rivkin Radler LLP on

You may have heard of Spousal Lifetime Access Trusts (SLATS) lately, especially if you have been thinking about using your federal estate and gift tax exemption before the current higher exemption amount of $13.61 million is...more

Burns & Levinson LLP

Is 2024 the Year of Gifting? Different Ways to Gift to Minimize Estate Taxes

Burns & Levinson LLP on

Gifting assets during life allows individuals to minimize their estate tax liabilities at death. Gifting is a strategy that can preserve wealth for future generations by minimizing estate taxes....more

Beacon Insights by JD Supra

The Year in Estate Planning – 2022 Popular Reads on JD Supra

A look at some of the most widely read estate planning updates and guidance published on JD Supra during 2022....more

Katten Muchin Rosenman LLP

2022 Year-End Estate Planning Advisory

During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act (CTA), and the Inflation Reduction Act...more

Rivkin Radler LLP

Besides Saving Estate Taxes, What Should Be on Your Estate Planning Checklist?

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The federal estate tax exemption provisions are set to expire at the end of 2025, potentially requiring more people to pay estate taxes. In view of the uncertainty of the estate tax laws, it is important to have estate...more

Blank Rome LLP

2022 California Estate and Tax Planning Newsletter

Blank Rome LLP on

Our annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2022 by our clients and friends in California. Perhaps the most important recent development was the failure...more

Davis Wright Tremaine LLP

Proposed Federal Tax Law Changes Affecting Estate Planning

The House Ways and Means Committee recently released its plan to pay for President Biden's proposed Build Back Better Act. Many of the changes to the Internal Revenue Code proposed by that plan would directly impact gift and...more

Winstead PC

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...more

Schwabe, Williamson & Wyatt PC

Three Estate Planning Proposals to Watch

House Democrats recently released additional legislative proposals that, if passed, would affect several commonly used estate planning techniques. Among those proposals are three that would significantly impact some of the...more

Cohen Seglias Pallas Greenhall & Furman PC

To Give or Not to Give: Considerations for Year-End Gifting

Presented by Cohen Seglias attorney Whitney Patience O'Reilly on December 15, 2020. As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any...more

Katten Muchin Rosenman LLP

2020 Year-End Estate Planning Advisory

In 2020, COVID-19, the US presidential election, the Tax Cuts and Jobs Act (the TCJA), and the Coronavirus Aid, Relief and Economic Security Act (the CARES ACT) dominated the planning landscape....more

Williams Mullen

Estate Planning Adjustments for Tax Year 2020

Williams Mullen on

Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation.  Recently, the IRS...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2019

Do you know the differences in estate tax law for couples when both spouses are U.S. citizens vs. when one spouse is a non-U.S. citizen? Or what nonlegal document should accompany a will? We are pleased to present the...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall - You haven’t transferred ownership of a life insurance policy to a trust

After recent tax legislation, including the Tax Cuts and Jobs Act, few tax shelters are left standing. One key exception is life insurance. This brief article details that, if certain requirements are met, the buildup of...more

Katten Muchin Rosenman LLP

The Tax Cuts and Jobs Act: Gift, Estate and Generation-Skipping Transfer Tax Reform

The Tax Cuts and Jobs Act (Act), passed at the end of 2017 by Congress and signed into law by President Trump on December 22, 2017, provides far-reaching changes to the federal tax landscape. Much has been written regarding...more

Burns & Levinson LLP

The 2017 Tax Act Doesn't "Simplify" Planning for Estates and Gifts Things to Consider or Reconsider As You Look at Your Estate

Burns & Levinson LLP on

On December 22, 2017, the President signed a major change to federal tax law that contains many provisions affecting individuals, estates, and trusts. While the impetus behind the change was simplification, as some unnamed...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

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

Adler Pollock & Sheehan P.C.

Making the most of your GST tax exemption

To share wealth with grandchildren, great-grandchildren or even more remote generations, special planning may be required to keep generation-skipping transfer (GST) taxes to a minimum. When it comes to GST tax planning, the...more

Proskauer Rose LLP

Personal Planning Strategies - July 2015

Proskauer Rose LLP on

Income Tax Considerations of Estate Planning Are More Important Than Ever - Gifting assets during life will reduce the size of your taxable estate at death and, correspondingly, reduce your estate tax liability. But with...more

Patterson Belknap Webb & Tyler LLP

Significant Changes to New York Estate and Income Tax Enacted

We previously alerted you to proposed legislation affecting New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. This month Governor Cuomo signed final...more

Patterson Belknap Webb & Tyler LLP

Significant Changes Proposed to New York Estate and Income Tax Laws

The New York State Legislature is considering some significant proposed changes to the New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. Some important...more

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