Once Removed Episode 19: The Step-Transaction Doctrine and the Case of Smaldino
Once Removed Episode 18: The Reciprocal Trust Doctrine
Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Once Removed Episode 17: Annual Gifting to Individuals: Options, Opportunities and Pitfalls
Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller
Gift Tax Basics
NGE On Demand: GRAT Trusts with Eric Mann
To Give or Not to Give: Considerations for Year-End Gifting
ATTENTION ALL CADETS!
Springtime is a great time to review your current estate plan or consider creating one. This year brings a number of opportunities for creating an estate plan, pursuing gifting strategies, and considering philanthropic...more
Now’s the time to review your GST tax exposure Absent congressional action this year, the federal gift and estate exemption and the generation-skipping transfer (GST) tax exemption (currently $13.99 million) are scheduled...more
On February 13, 2025, Republican lawmakers in Congress introduced the Death Tax Repeal Act, which aims to permanently eliminate the federal estate tax. Since 2015, various legislative efforts to repeal the estate, gift, and...more
New legislation to repeal the federal estate tax, often referred to as the “death tax,” has been introduced in Congress. Senator John Thune (R-SD) and Representative Randy Feenstra (R-IA) have introduced companion bills in...more
Let’s work off of this premise: an estate planner’s job is to help a client pass their value and values to the following generations to the fullest extent possible, addressing as many of the obstacles in doing so as...more
Federal Exemption Amounts Increased to $13,990,000 - As of January 1, 2025, the federal gift and estate tax exemption amount, as well as the exemption from generation-skipping transfer (GST) tax, (collectively, the...more
The arrival of 2025 brings with it increased estate and gift exclusion amounts. For an estate of any decedent dying during calendar year 2025, the Federal applicable exemption will increase from $13.61 million to $13.99...more
It may take just 3 Republicans in the U.S. House to defeat a new Tax Cuts and Job Act (TCJA) extension and exactly 3 of the 12 Republicans, who voted against the TCJA in 2017, have been reelected to the U.S. House....more
As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information as you consider 2025 planning options. ...more
With the end of the year quickly approaching, now is good time to ensure you make your annual exclusion gifts for the year to reduce your taxable estate. For 2024, an individual can give $18,000 (and a married couple...more
The Trump administration is expected to work with Congress to extend the Tax Cuts and Jobs Act (TCJA), but this will take longer than 100 days....more
Federal Estate, GST and Gift Tax Rates The federal estate, gift and GST applicable exclusion amounts are as summarized below. In simple terms, these dollar figures represent the amount of wealth that each individual can...more
The "big ticket" item of the Tax Cuts and Jobs Act (TCJA) is the significant increase to the lifetime gift, estate and generation-skipping tax (GST) tax exemptions. Under the TCJA, the exemptions were increased from $5...more
A record-breaking stock market has again generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer. Gifts...more
As 2024 quickly comes to a close, the new year will bring a change in the presidency, a new Congress, and potential changes to policies and laws that could impact individuals of all wealth levels. Going into the election,...more
This year was busy for trusts and estates practitioners. With 2025 marking the final year of the Tax Cuts and Jobs Act (TCJA), many of its implications for federal corporate and individual income tax, gift, estate and...more
In 2018, as part of the “Trump tax cuts,” the federal estate, gift and generation-skipping transfer (GST) tax exemption was increased to $11,180,000, with annual increases for inflation. Today, the exemption stands at...more
At the end of 2025, the federal estate and gift tax exemption will dramatically decrease unless Congress affirmatively passes a law saying otherwise. This event is the “sunsetting” of a 2018 federal tax law and is leading...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
A key benefit to families with taxable estates may be about to go away. The Tax Reform Act of 2017 incorporated numerous tax reductions into U.S. law, with one significantly increasing the ability of taxable estate owners to...more
The TCJA doubled the lifetime exclusion and GST tax exemption. This exclusion amount, adjusted for inflation, is now $13.61 million and is expected to be approximately $13.99 million in 2025. However, in 2026, the amount will...more
Today’s federal estate and gift tax laws may be remembered as the most generous to wealthy families since the Great Depression. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the federal estate, gift, and generation skipping...more
Estate planning and wealth transfer professionals have their eyes on the sky as the future of federal estate taxation grows increasingly nebulous. Background - The federal gift and estate tax exemption is the amount...more
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