News & Analysis as of October 31, 2024

Estate Planning › Spousal Lifetime Access Trust (SLAT)

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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 -

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

Adler Pollock & Sheehan P.C. on 9/16/2024

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

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

Husch Blackwell LLP on 6/13/2024

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

Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult

Allen Barron, Inc. on 6/6/2024

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more

Trusts 101, Part 3 – Trust Acronyms Explained

Warner Norcross + Judd on 4/12/2024

Trusts serve a variety of tax, asset protection and estate planning purposes for families, and over the years different types of trusts have evolved to best serve families’ planning needs and objectives. Each type of trust...more

Once Removed Episode 18: The Reciprocal Trust Doctrine

McGuireWoods LLP on 3/18/2024

This podcast often discusses the elements of a trust, and how to grant access, control and flexibility to beneficiaries and trustees. But for tax and other purposes, the donor typically cannot retain those kinds of powers. ...more

A Strong Marriage is a Necessity When it Comes to Using a SLAT

Adler Pollock & Sheehan P.C. on 1/9/2024

When creating your estate plan, there’s a certain amount of prognosticating involved. What will your financial picture look like in years to come? How will estate tax laws change?...more

Estate and Tax Planning 2023 Update: Act While You Can

Pillsbury Winthrop Shaw Pittman LLP on 10/19/2023

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

Once Removed Episode 12: SLATs and the Case of McKim vs. McKim

McGuireWoods LLP on 6/22/2023

Steve Murphy, chair of the private wealth services group, dives deeper into the subject of SLATs in this episode. SLATs can work well with estate tax benefits and creditor protection benefits, all while giving the spouse...more

Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs

McGuireWoods LLP on 6/21/2023

Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through...more

Summertime Trust Changes: Florida’s Newest Trust Laws Effective as of July 1, 2022 Includes SLAT-Friendly Legislation

Bilzin Sumberg on 7/14/2022

Florida’s newest trust laws taking effect this summer are turning up the heat in what is already a hot estate planning scene. With the federal estate and gift tax exemption for U.S. citizens and U.S. domiciliaries at a...more

Gift and Estate Tax Changes

Stark & Stark on 1/5/2022

Throughout 2021, Congress and the Executive Branch proposed tax code changes that – had they ultimately passed – would have significantly changed various estate planning techniques. Some proposals would have sidelined a...more

House Ways and Means Committee Tax Plan Proposes Changes to Estate Planning

Holland & Knight LLP on 9/30/2021

The House Committee on Ways and Means has proposed a tax plan intended to fund President Joe Biden's "Build Back Better" $3.5 trillion infrastructure program. Among the many changes in this proposed tax plan are three that...more

House Democrats Propose Estate and Gift Tax Law Changes: Important Estate Planning Implications

Verrill on 9/29/2021

What you need to know: On September 13, 2021, the House Ways and Means Committee released its proposed tax plan to fund President Biden’s $3.5 trillion “Build Back Better” social and economic spending package. If enacted as...more

Personal Planning Strategies - September 2021

Proskauer Rose LLP on 9/22/2021

You have probably heard that the House Ways and Means Committee released proposals for increasing gift and estate taxes in order support legislation being advanced by the Democratic majority in Congress. ...more

The House Democrats’ Tax Plan – The Time for Estate Planning Is Now

Morgan Lewis on 9/21/2021

The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the...more

Opening Up to SLAT Opportunities

Adler Pollock & Sheehan P.C. on 4/13/2021

Estate tax planning can become complicated when multiple parties are involved. For example, you may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for your children from...more

[Webinar] 2021 Estate Tax Planning Update - May 12th, 2:00 pm - 3:00 pm EDT

UB Greensfelder LLP on 3/31/2021

Join Ulmer Trusts and Estates attorneys, Erica N. Carducci, Stephanie M. Glavinos, John R. Harrison, and Linda DelaCourt Summers, as they discuss leveraging spousal lifetime access trusts (SLATs), the advantages of creating...more

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

Bowditch & Dewey on 11/24/2020

Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

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Estate Planning › Spousal Lifetime Access Trust (SLAT)

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