December 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The December Section 7520 rate for use in estate planning techniques such as CRTs, CLTs,...more
11/27/2024
/ Beneficiaries ,
Borrowers ,
Community Property ,
Death Benefits ,
Estate Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Insurance Brokers ,
Internal Revenue Code (IRC) ,
IRS ,
Probate ,
Promissory Notes ,
Trusts ,
Wealth Management
The IRS has announced a new audit campaign targeted at the use of private aircraft, a/k/a “corporate jets”. This has been an intensifying area of focus by the IRS over the last few years as a result of recently-increased tax...more
What This Means for Your Current Will, Revocable Trust and Estate Plan -
The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer Relief Act of 2012 (the "2012 Act"). In...more
September 2024 AFRs and 7520 Rate -
The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September...more
9/13/2024
/ AFR ,
American Bar Association (ABA) ,
Beneficiaries ,
Decanting ,
Declaratory Relief ,
Due Process ,
Estate Planning ,
Ethics ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Loper Bright Enterprises v Raimondo ,
Noncompliance ,
Probate ,
Proposed Regulation ,
Retirement ,
Settlement ,
Statutory Requirements ,
Unclean Hands ,
Uniform Trust Code ,
Wealth Management
The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more
9/6/2024
/ Administrative Procedure Act ,
AFR ,
Beneficiaries ,
Chevron Deference ,
Compliance ,
Confidentiality Policies ,
Connecticut ,
Decanting ,
Declaratory Relief ,
Delaware ,
Due Process ,
Estate Planning ,
Federal Taxes ,
Florida ,
Grantor Retained Annuity Trusts (GRATs) ,
Interest Rates ,
IRS ,
Long Arm Statute ,
Loper Bright Enterprises v Raimondo ,
Probate ,
Proposed Regulation ,
Settlement Agreements ,
Trustees ,
Trusts ,
Uniform Trust Code ,
Vesting ,
Wealth Management
June 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The June Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs...more
6/12/2024
/ Generation-Skipping Transfer ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Proposed Regulation ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Split-Interest Charitable Trusts ,
Tax Exemptions ,
Wealth Management
In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...more
12/29/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
FinCEN ,
Foreign Corporations ,
Full-Time Employees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Parent Corporation ,
REIT ,
Reporting Requirements ,
U.S. Treasury
September 2023 AFRs and 7520 Rate -
The September 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, which was the same as the August 2023 rate...more
9/13/2023
/ Beneficiaries ,
Estate Planning ,
Estate-Tax Exemption ,
Gift-Tax Exemption ,
Grantor Retained Annuity Trusts (GRATs) ,
Individual Retirement Account (IRA) ,
Inflation Adjustments ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Lending ,
SECURE Act ,
Wills
June 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The June Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs...more
6/6/2023
/ Audits ,
Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
IRS ,
S-Corporation ,
Split-Interest Charitable Trusts ,
Wealth Management
May 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The May Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs and...more
The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.0%. The April applicable federal rate (“AFR”) for use with a sale to a defective grantor trust or intra-family loan...more
4/12/2023
/ AFR ,
Estate Tax ,
FBAR ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
GST ,
Internal Revenue Code (IRC) ,
Intra-Family Loans ,
Irrevocable Trusts ,
IRS ,
Life Insurance ,
Living Trust ,
Split-Interest Charitable Trusts ,
Transfer Taxes ,
Trustees ,
U.S. Treasury ,
Wealth Management
February 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
The February applicable federal rate (“AFR”) for use with a sale to a defective grantor...more
2/6/2023
/ AFR ,
Appeals ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Intra-Family Loans ,
IRS ,
Qualified Charitable Distributions ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Settlement Agreements ,
Split-Interest Charitable Trusts ,
Wealth Management
With Recent Court Decision, Out-of-State Owners of New York Houses Can Breathe Easier -
A recent New York appellate court ruling has major implications for individuals who own a house in New York State but do not consider...more
The June Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 3.6%, an increase from the May rate of 3.0%. The June applicable federal rate (“AFR”) for use with a sale to a...more
April 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts -
The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more
4/1/2022
/ Estate Planning ,
Grantor Retained Annuity Trusts (GRATs) ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Regulatory Agenda ,
Required Minimum Distributions ,
Retirement Plan ,
Split-Interest Charitable Trusts ,
Wealth Management
The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer Relief Act of 2012 (the "2012 Act"). In 2017, the Tax Cuts and Jobs Act (the "2017 Act") significantly increased the...more
12/15/2021
/ Crummey Trusts ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Generation-Skipping Transfer ,
Gift Tax ,
Gift-Tax Exemption ,
Individual Retirement Account (IRA) ,
IRS ,
Required Minimum Distributions ,
Tax Planning
Federal interest rates increased slightly for December of 2021 but remain fairly low historically. The December Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.6%, which is...more
12/14/2021
/ AFR ,
Embezzlement ,
Estate Planning ,
Gift Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Probate ,
Probate Courts ,
Self-Canceling Installment Note ,
Split-Interest Charitable Trusts ,
Testamentary Capacity ,
Wealth Management
Act Now Before the Window of Opportunity Closes -
By now you have probably heard that the House Ways and Means Committee introduced legislation a few weeks ago (see Let the Estate Tax Planning Games Begin - But Where Will...more
10/5/2021
/ Biden Administration ,
Estate Planning ,
Estate Tax ,
Grantor Trusts ,
Income Taxes ,
IRS ,
Legislative Agendas ,
Regulatory Agenda ,
Tax Planning ,
Tax Reform ,
Transfer of Assets ,
Transfer Taxes ,
Ways and Means Committee ,
Wealth Management
Federal interest rates were largely stable in August of 2021.The August applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a...more
8/30/2021
/ AFR ,
Charles Schwab ,
Donor-Advised Funds (DAFs) ,
Estate Claims ,
Fair Market Value ,
Fiduciary Duty ,
Income Taxes ,
Intentionally Defective Grantor Trusts ,
Interest Rates ,
IRS ,
Legislative Agendas ,
Michael Jackson ,
State Taxes ,
Tax Cuts ,
Tax Reform ,
Wealth Management
January 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Certain federal interest rates increased slightly for January of 2021 while others...more
1/13/2021
/ Charitable Trusts ,
Constitutional Amendment ,
Estate Planning ,
Estate Tax ,
FBAR ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
State Constitutions ,
Wealth Management
December 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs -
Certain federal interest rates increased slightly for December of 2020, while...more
12/7/2020
/ AFR ,
Estate Planning ,
Estate Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Intra-Family Loans ,
IRS ,
Property Tax ,
SALT ,
Self-Canceling Installment Note ,
Split-Interest Charitable Trusts ,
Tax Cuts and Jobs Act ,
Tax Policy ,
Wealth Management
Top Ten Estate Planning Recommendations before the End of 2020 -
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before...more
10/7/2020
/ Capital Gains ,
Estate Planning ,
Estate Tax ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Income Taxes ,
Interest Rates ,
IRS ,
SLAT ,
Tax Exemptions ,
Tax Planning ,
Year-End Planning ,
Year-End Tax Planning
Important federal interest rates continue to hold relatively steady. The October Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 0.4%, which is unchanged from a month ago....more
July 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intrafamily Loans and Split-Interest Charitable Trusts -
The July Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more
7/2/2020
/ Charitable Trusts ,
Coronavirus/COVID-19 ,
Estate Planning ,
Estate Tax ,
Executive Orders ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Personal Property ,
Probate Code ,
Tax Court ,
Wealth Management
March 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Important federal interest rates continue to hold relatively steady. The March Section 7520...more
3/10/2020
/ AFR ,
Beneficiaries ,
Charitable Deductions ,
Charitable Trusts ,
Diversity Jurisdiction ,
Estate Planning ,
Estate Tax ,
Fiduciary Duty ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
Interest Rates ,
Intra-Family Loans ,
IRS ,
Surrogate's Court ,
Tax Court ,
Trust Distributions ,
Wealth Management