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Perkins Coie

Estate Planning Provisions in the One Big Beautiful Bill Act

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Key Takeaways - 1. The Act permanently extends the doubled gift, estate, and generation-skipping tax exclusion amount to $15 million per individual and $30 million per married couple, indexed for inflation. 2. The Act...more

Kerr Russell

Act Now or Wait? What the New $15M Estate Tax Exemption Means for You

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On July 4, 2025, President Trump signed the “One Big Beautiful Bill” into law (2025 Act), which made permanent a number of important tax provisions that were set to expire on January 1, 2026. From an estate planning...more

DLA Piper

Keeping Watch on the IRA: Co-pays Increasing for Diabetes Medications

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The Inflation Reduction Act (IRA) made changes to the way drugs are covered and reimbursed in Medicare. It has been anticipated that this could result in more restrictive formularies in drug plans or higher co-pays for...more

Foley & Lardner LLP

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

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On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

Proskauer Rose LLP

Wealth Management Update - July 2025

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The July 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is the same as the June 2025 Section 7520 rate...more

Sheppard Mullin Richter & Hampton LLP

Congressional Budget Proposal Includes Adjustments to Dual-Eligible Enrollment Pathways and Medicare Savings Program Rules

In June 2025, the U.S. House of Representatives introduced a budget reconciliation bill titled the One Big Beautiful Bill Act (OBBBA). The legislation proposes a number of administrative changes to existing federal health...more

Segal McCambridge

New York’s Grieving Families Act Advances (Again)

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On June 10, 2025, the New York State Grieving Families Act got a (fourth) chance to be signed by Governor Hochul. She refused to sign prior iterations of the legislation, citing stress on New York’s business community and the...more

Fox Rothschild LLP

How Pennsylvania's New Directed Trust Act Will Affect Corporate Trustees

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Now that Pennsylvania recognizes directed trusts, corporate fiduciaries should be aware that sharing trust responsibilities could create both legal liability and administrative burdens. The law, which went into effect late...more

The Estate Lawyers

Estate Law Update: Millions More California Homes Eligible to Bypass Full Probate Process

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Before shifting my practice from estate planning to estate litigation, I witnessed up close the challenges and frustrations associated with the California probate process. That has changed for many Californians. Assembly Bill...more

Pullman & Comley, LLC

Decanting Isn’t Just for Wine Anymore – The Connecticut Uniform Trust Decanting Act

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Not all trusts age like fine wine. Family situations change, tax laws are updated, and an irrevocable trust created years ago may no longer be ideal for today’s circumstances. ...more

Haynsworth Sinkler Boyd, P.A.

New law provides for the ability to place a “Transfer on Death” designation on titled personal property

In South Carolina, there's a new law that lets you add a "Transfer on Death" (TOD) designation to the title of personal property like cars, boats, or mobile homes. This means you can name someone to automatically receive the...more

Cozen O'Connor

New Planning Opportunity for Florida SLATs

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A new law was recently passed in Florida that will allow a grantor spouse of a Spousal Limited Access Trust (SLAT) to be added as a beneficiary of the SLAT following the death of the beneficiary spouse. Please see below for a...more

Foley & Lardner LLP

The Federal Telehealth Extension and Evaluation Act: What You Need to Know

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What is the Telehealth Extension and Evaluation Act? The Telehealth Extension and Evaluation Act would establish a two-year extension for certain COVID-19 emergency telehealth waivers. The legislation aims to extend the...more

Carlton Fields

New Jersey Enacts Anti-STOLI Law

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We have previously reported on New Jersey’s effort to enact legislation prohibiting stranger-originated life insurance (STOLI) and the New Jersey case law leading up to that legislation. See June 2019, December 2019, and...more

Rivkin Radler LLP

The Time to Plan for Tax Code Changes Is Now

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The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...more

McNees Wallace & Nurick LLC

McNees Insights – Estate Planning: March 2020

The current year sees us coming off a good year in the stock market and an economy that is strong. However, in November there is another presidential election cycle, which could bring change to which political party controls...more

Cozen O'Connor

New Jersey Assembly Overwhelmingly Approves Anti-STOLI Legislation

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As many of you may know, Cozen O’Connor was victorious last year in obtaining a ruling by the New Jersey Supreme Court in Sun Life Assurance Company v. Wells Fargo Bank, N.A., 238 N.J. 157 (2019) (Bergman) that...more

Chambliss, Bahner & Stophel, P.C.

If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate

Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...more

Farella Braun + Martel LLP

Your Retirement Planning and the SECURE Act

The Setting Every Community Up for Retirement Enhancement Act (or SECURE Act), signed into law on December 20, 2019, changes retirement planning significantly and unexpectedly. The bulk of the changes become effective as of...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] The SECURE Act: How This Brand New Law Affects Your Retirement Accounts - February 20th, 12:00 pm ET

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was enacted on December 20, 2019, as part of a major appropriations bill. The SECURE Act is intended to make it easier for a broad range of...more

Ruder Ware

Call to Action: Review Your Estate Plan in Light of the SECURE Act

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The federal appropriations bill enacted into law on December 20, 2019 changed federal law in ways that may affect your retirement assets, including 401(k) plans and IRAs. Those changes, often referred to as the “SECURE Act,”...more

Genova Burns LLC

Secure Act Insecurities

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On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act (the“Act”) was signed into law drastically altering the administration of certain retirement plans such as IRAs and 401Ks. Although...more

Katten Muchin Rosenman LLP

Review of Illinois Revocable Trusts Recommended in Light of New Illinois Trust Code

On July 12, Governor Pritzker signed into law the new Illinois Trust Code (ITC), which is effective January 1, 2020...more

Tucker Arensberg, P.C.

SECURE Act Is Expected to Become Law By December 20, 2019

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On December 17, 2019, the US House of Representatives approved an appropriations bill, which includes the SECURE Act previously passed in the House. President Trump is expected to sign it once it reaches his desk. The...more

Burr & Forman

The New Section 199A 20% “Profit Deduction” for Pass-Through Businesses: The Undecided Issue of Owner Compensation

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Under the Tax Cuts and Jobs Act, Congress is now offering a new 20% deduction for “pass-through” businesses – i.e. businesses that are not corporations. With the corporate tax rate being reduced under the new law to a flat...more

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