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Estate Planning › Beneficiaries › Estate-Tax Exemption

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 -
Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2025

Shumaker, Loop & Kendrick, LLP on

A well-designed estate plan helps cement your legacy, but that doesn’t mean it’s set in stone. Changing family circumstances, fluctuating financial markets, health issues and other factors can impact the effectiveness of your...more

Cole Schotz

2025 Estate and Gift Tax Update

Cole Schotz on

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

Farrell Fritz, P.C.

End of Year Gifting

Farrell Fritz, P.C. on

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

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning: Important Planning Considerations for 2024 and 2025

Katten Muchin Rosenman LLP on

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

DarrowEverett LLP

How Will New Congress Impact Tax and Estate Planning Strategies?

DarrowEverett LLP on

With the looming elections, tax planners have taken time to consider what the future of Estate and Gift Tax planning might be under the new Congress. Every new Congress considers changes to the Internal Revenue Code of 1986,...more

Allen Barron, Inc.

Update your Trust and Estate Plan Regularly to Protect Your Interests

Allen Barron, Inc. on

It is important to update your trust and estate plan regularly to protect your interests and meet the changing requirements of your future while integrating changes in law and best practices to provide for every potential...more

Kohrman Jackson & Krantz LLP

Navigating Section 1014 and the TCJA: A Deep Dive into the IRS Ruling on Basis Adjustments

Kohrman Jackson & Krantz LLP on

Understanding the nuances of the Internal Revenue Code (I.R.C.) is crucial for effective estate planning and tax strategy. For example, estate planners must be familiar with the tax basis adjustment provisions in 26 U.S.C. §...more

Allen Barron, Inc.

You Need to Review Your Irrevocable Trust

Allen Barron, Inc. on

Do you employ an irrevocable trust or trusts as part of your estate plan? You need to review your irrevocable trust to ensure it still delivers the benefits intended. It is generally possible to modify an irrevocable trust,...more

Freeman Law

What is Estate Tax?

Freeman Law on

The estate tax is a tax on transferring assets from a deceased person to their heirs or beneficiaries. The federal estate tax in the United States is imposed on the transfer of the taxable estate of every decedent who is a US...more

Bowditch & Dewey

Estates Under $2 Million – Do I Need an Estate Plan?

Bowditch & Dewey on

With the exciting and long overdue news of the increase in the Massachusetts estate tax exemption from $1 million to $2 million for decedents dying on or after January 1, 2023, many Massachusetts residents have been left...more

Poyner Spruill LLP

Exploring Estate Tax Deferral

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The passing of a loved one is always a challenging time and navigating the financial implications of administering his or her estate can add yet another layer of complexity to an already emotional experience. Estate Taxes, in...more

Rivkin Radler LLP

New 2024 Estate and Gift Tax Exemption Amounts

Rivkin Radler LLP on

The federal estate and gift tax exemption (the combined amount you can give away to beneficiaries other than your spouse or charities during life and at death without paying gift or estate tax) is increasing to $13.61 million...more

Proskauer Rose LLP

Wealth Management Update - September 2023

Proskauer Rose LLP on

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

Mitchell, Williams, Selig, Gates & Woodyard,...

Estate Planning Techniques in a Higher Interest Rate Environment

Mitchell, Williams, Selig, Gates & Woodyard,... on

One can hardly miss the high levels of inflation currently affecting our economy. Even for those who do not pay close attention to the news, where inflation could hardly be more covered, the price of nearly everything for...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Bilzin Sumberg

For The 99.5% Act – Is Change a Coming for the Estate Planning World?

Bilzin Sumberg on

On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more

Ward and Smith, P.A.

Is it Time to "Use it or Lose it?"

Ward and Smith, P.A. on

In the wake of COVID-19, we may see significant statutory changes to the federal estate, gift, and generation-skipping transfer tax exemptions. Spousal Lifetime Access Trusts and other planning techniques provide...more

Conn Kavanaugh

To Gift or not to Gift?

Conn Kavanaugh on

‘Tis the season of giving, and while it is often difficult to find that perfect present for a friend or loved one, gifting as part of your estate plan can be an effective way to pass assets to the next generation. You may...more

McGuireWoods LLP

Ron Aucutt’s “Top Ten” Estate Planning and Estate Tax Developments of 2018

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In an always-anticipated annual tradition, McGuireWoods partner Ronald Aucutt, with help from his McGuireWoods colleagues, has identified the top ten estate planning and estate tax developments of 2018. Ron is chair emeritus...more

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