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Estate Planning › Exemptions

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Neal, Gerber & Eisenberg LLP

Client Alert: 2024 Inflation Adjustments That Impact Current Estate Planning Opportunities

Neal, Gerber & Eisenberg LLP on

The Internal Revenue Service recently announced increased transfer tax exclusions for calendar year 2024 as part of Revenue Procedure 2023-34. The significant increases in the unified credit against estate, gift and...more

Stoel Rives LLP

Planning for College Kids and Young Adults

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As young family members head off to school or leave home for a job, parents and other relatives may wonder how they can continue to support a child or assist with health care or other decisions. Many parents are surprised...more

Rivkin Radler LLP

You “Placed Your Trust” In New York? You May Be Sorry You Did

Rivkin Radler LLP on

According to a report issued by the National Association of Realtors a couple of days ago, last year saw a large outmigration of people from California and New York, while Florida and Texas experienced a comparably large...more

Patterson Belknap Webb & Tyler LLP

Tax Benefits of Advance Planning

Patterson Belknap Webb & Tyler LLP on

Estate planning strategies for founders are typically focused on saving both income taxes and estate taxes. Income tax savings can be achieved by creating and funding multiple trusts with company stock that duplicate any...more

Arnall Golden Gregory LLP

Private Wealth Newsletter - Estate Planning After the 2020 Elections

Arnall Golden Gregory LLP on

The estate planning environment has been highly favorable, with transfer tax exemptions currently at historic highs and interest rates near all-time lows. However, the temporary nature of the increased exemptions and the...more

Moritt Hock & Hamroff LLP

Saving Estate Generation Tax Skipping With Upstream Gifts To The Older Generation

Moritt Hock & Hamroff LLP on

Complex times are times to seek advice and consult your Estate Planner. Federal estate tax laws in place during the 1970s, 1980s and 1990s were very oppressive. These laws were modified to a great extent and now benefit...more

Proskauer Rose LLP

Lowered Interest Rates Due To Coronavirus Makes Intra-family Loans an Effective Estate Planning Tool

Proskauer Rose LLP on

As a result of the Federal Reserve Bank's recent stimulus and interest rate decreases in response to the coronavirus, intra-family loans can be used to transfer wealth to future generations with no gift tax consequences as...more

Rosenberg Martin Greenberg LLP

Demystifying Life Estate Deeds in Maryland

Rosenberg Martin Greenberg LLP on

In Maryland, you can make a beneficiary designation on your real property. This type of transaction is called a Life Estate Deed. It can be a very useful tool to avoid probate while also preserving tax benefits. There are two...more

Genova Burns LLC

Joint Committee on Taxation’s “Blue Book” Presents Potential Opportunities for GST Non-Exempt Trusts

Genova Burns LLC on

Late last year, the Joint Committee on Taxation published what is colloquially known as the “Blue Book” – the Committee’s explanation of recent changes in the tax law. While not considered as part of the law’s legislative...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Retirement-Fund Bankruptcy Exemption Case: Clark v. Rameker

Faegre Drinker Biddle & Reath LLP on

On June 12, 2014, the United States Supreme Court decided Clark v. Rameker, No. 13-299, holding that funds in an individual retirement account (IRA) that a bankruptcy debtor obtained through inheritance are not "retirement...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - August/September 2013: Making gifts still matters, even after ATRA

Adler Pollock & Sheehan P.C. on

The American Taxpayer Relief Act of 2012 (ATRA) eliminated much of the uncertainty that plagued estate planning for years by making two key provisions “permanent”: the $5 million gift and estate tax exemption (adjusted...more

Ervin Cohen & Jessup LLP

Can a Corporation be Appointed a Receiver?

Ervin Cohen & Jessup LLP on

I was in court last week and the judge appointed a corporation as the receiver in a case....more

Poyner Spruill LLP

Estate Plans May No Longer Need Credit Shelter Trusts

Poyner Spruill LLP on

The 2012 Tax Relief Act provides an exemption from federal estate tax of $5,250,000 inflation indexed per spouse that is portable between spouses. If the first spouse to die does not use in whole or in part her or his...more

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