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Estate Planning › Capital Gains

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 -
Blank Rome LLP

Qualified Small Business Stock in Tax and Estate Planning

Blank Rome LLP on

Stock qualifying under Section 1202 of the Internal Revenue Code of 1986, as amended (the “Code”), as Qualified Small Business Stock (“QSBS”) allows eligible non-corporate taxpayers to potentially exclude a portion or all of...more

Hone Maxwell

Stacking QSBS: Using Trusts to Maximize the §1202 Exclusion

Hone Maxwell on

The Section 1202 exclusion is one of the most valuable tax planning tools available to U.S. business owners and investors. It allows a non-corporate taxpayer (e.g., an individual or trust) to eliminate federal capital gains...more

ArentFox Schiff

QOZ Planning Under the OBBBA

ArentFox Schiff on

On July 4, President Trump signed into law the “One Big Beautiful Bill Act (OBBBA),” more formally known as “H.R.1 – An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14.”...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Opportunities To Avoid or Defer Tax on Gains

Lowenstein Sandler LLP on

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act (H.R.1) (OBBBA). This alert focuses on OBBBA changes regarding qualified small business stock (QSBS) and qualified opportunity zone (QOZ)...more

Cole Schotz

One Big Beautiful Bill (OBBB) Results in Major Estate and Income Tax Changes

Cole Schotz on

After months of intense negotiations, on July 4, 2025, the One Big Beautiful Bill (OBBB) was signed into law making various changes to the tax code that impacts estate, gift and income tax planning. Increased Estate, Gift...more

Allen Barron, Inc.

Succession Planning for Business Owners

Allen Barron, Inc. on

What is succession planning for business owners? How does this affect the short and long-term interests of your company and its value? Why should you be concerned about succession planning if you own a business or have a...more

Farrell Fritz, P.C.

The Sun Will Not Set: The One Big Beautiful Bill

Farrell Fritz, P.C. on

The long-anticipated “sunset” of the Tax Cuts and Jobs Act of 2017 (TCJA) was slated for the end of 2025. Upon this “sunset,” the federal estate and gift tax exemptions—which reached $13.99 million per individual in...more

Farella Braun + Martel LLP

The OBBBA - What Has (and Hasn’t) Changed for Individual Income, Estate, and Gift Taxes

Farella Braun + Martel LLP on

The One Big Beautiful Bill Act ("OBBBA”) was signed into law last week, continuing the applicability of many individual federal income, estate, and gift tax provisions from the 2017 Tax Cuts and Jobs Act (“TCJA”), and in some...more

Kohrman Jackson & Krantz LLP

QSBS Capital Gains Exclusions: Utilize Estate Planning to Maximize Benefits

Kohrman Jackson & Krantz LLP on

Qualified Small Business Stock (QSBS) offers business owners significant federal tax benefits of exclusion of up to $10 million or ten times the stock’s basis in capital gains, whichever is greater. The stock must be held for...more

Gerald Nowotny - Law Office of Gerald R....

To Be or Not to Be Contemplating the Meaning of Life Through Private Placement Life Insurance

Gerald Nowotny - Law Office of Gerald R.... on

The focus of this article illustrates why private placement life insurance (“PPLI”) is the best asset to utilize in the “Buy, Borrow and Die” strategy for high net worth investors including billionaires. After this article,...more

Offit Kurman

Not Considering the Importance of Charitable Giving

Offit Kurman on

When a client’s family does not wish to inherit a collection or if its inclusion in the estate would create a significant tax burden, it is crucial to explore charitable giving options. Proper planning can help maximize the...more

Bennett Jones LLP

Bennett Jones Leading the Way in Employee Ownership Trusts

Bennett Jones LLP on

Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

Saul Ewing LLP

The Incomparable IDGT: The Gift That Keeps on Giving

Saul Ewing LLP on

When creating trusts for estate-reduction purposes, nothing compares to the Intentionally Defective Grantor Trust.  This type of trust is referred to by the acronym “IDGT.” Called by some as an I-D-G-T and others a word that...more

Allen Barron, Inc.

The Step Up Benefit of a Revocable Trust

Allen Barron, Inc. on

What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? ...more

Flaster Greenberg PC

Why Should Your Art Collection Be Part of Your Estate And Tax Planning?

Flaster Greenberg PC on

Your carefully curated fine art collection is an important, and often emotionally charged part of your estate. If not specifically addressed in your will, or some other arrangement isn’t made, your important fine art falls...more

Husch Blackwell LLP

Understanding the Unique Benefits of Beneficiary Intentionally Defective Irrevocable Trusts (BIDITs)

Husch Blackwell LLP on

A Beneficiary Intentionally Defective Irrevocable Trust (BIDIT) provides a unique planning opportunity because it allows a beneficiary to continue to benefit from his or her own assets while maintaining some level of control...more

Rivkin Radler LLP

Don’t Give Your House to Your Children (While You’re Alive)

Rivkin Radler LLP on

Many of us would like our children to inherit our home once we are gone. More than a few of us think it makes sense to give our home to our children while we are still living. That is not a good idea! Here’s why. Loss of...more

ArentFox Schiff

2024 Estate Planning Outlook: Transfer Tax Changes are on the Horizon

ArentFox Schiff on

The Tax Cuts and Jobs Act of 2017 (TCJA) significantly increased the lifetime estate and gift tax exemption from $5.6 million to $11.18 million for individuals, with adjustments for inflation starting in 2018. For 2023, the...more

Harris Beach Murtha PLLC

Massachusetts Tax Relief Becomes Law

Harris Beach Murtha PLLC on

Today, October 4, 2023, Governor Healey signed into law major tax legislation that includes estate tax relief, closing a loophole around the newly implemented millionaire’s tax, short-term capital gains tax cuts and more....more

Nutter McClennen & Fish LLP

Estate and Income Tax Provisions in Pending Massachusetts Tax Relief Package

Nutter McClennen & Fish LLP on

The Massachusetts House and Senate voted in favor of a Massachusetts tax relief bill. The legislation is now on Governor Maura Healey’s desk, and she has until October 8th to act. More than two decades have passed since the...more

Harris Beach Murtha PLLC

Massachusetts Unveils New Tax Relief

Harris Beach Murtha PLLC on

On September 26, 2023, Massachusetts leaders announced major tax legislation that includes estate tax relief, closing a loophole around the newly implemented millionaire’s tax, short-term capital gains tax cuts and more. It...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

The Revenue Ruling Reversal: Are Your Trust Assets Protected From Capital Gains Taxes?

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In the last few decades, more and more U.S. families have been utilizing irrevocable trusts as part of their estate planning in order to protect their assets and manage their taxes in an efficient manner. Generally, assets...more

Farella Braun + Martel LLP

Navigating Charitable Bequests: Risks and Rewards for Early Planning

Farella Braun + Martel LLP on

Charitable bequests are an essential aspect of philanthropic planning for high net worth individuals. When engaging in conversations with philanthropic clients, it is crucial to help them determine suitable assets for...more

Davidoff Hutcher & Citron LLP

Unsure of Stepped-Up Basis? Here is a 5-Point Primer

Davidoff Hutcher & Citron LLP on

Stepped-up basis is a tax law that applies to estate transfers when a person receives an asset from a giver after a benefactor passes away. In those circumstances, the asset receives a “stepped-up” basis – which is the market...more

Davis Wright Tremaine LLP

DWT Estate Planning Update

Davis Wright Tremaine LLP on

From time to time, we provide updates in the estate planning area. While the November 2022 federal elections resulted in a divided Congress that dampens the likelihood of major federal tax legislation, we thought this would...more

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