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Estate Planning Divorce Income Taxes

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 -
Proskauer Rose LLP

Wealth Management Update - April 2025

Proskauer Rose LLP on

The April 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is 0.40% less than the March 2025 rate. The April applicable federal rate (“AFR”) for use with a...more

Levenfeld Pearlstein, LLC

Keeping Romance Alive in Premarital Planning

Each year, “proposal season” begins around Thanksgiving and ends on Valentine’s Day. Then the planning begins — the date, the venue, the guests — and, for many couples, a premarital agreement....more

Proskauer Rose LLP

Wealth Management Update - July 2021

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July 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - The July applicable federal rate ("AFR") for use with a sale to a defective grantor...more

Bowditch & Dewey

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

Bowditch & Dewey on

Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

Cozen O'Connor

“Untying the Knot”: Practical Considerations for the Newly Divorced

Cozen O'Connor on

I was asked recently by a financial advisor in New York, to review and comment on a chart he had put together which was designed to help newly-divorced people in get back on their feet. The draft document I received covered...more

Burr & Forman

Estate Planning and Prenuptial Agreements: Tax Implications of Alimony

Burr & Forman on

When contemplating marriage and estate planning, frequently, individuals will enter into prenuptial (premarital) agreements to address their rights and obligations during the marriage and in the event of a divorce or death. A...more

McGuireWoods LLP

U.S. Supreme Court Holds Same-Sex Marriage To Be a Fundamental Right

McGuireWoods LLP on

The United States Supreme Court issued its opinion in Obergefell v. Hodges, 576 U.S. ___ (2015) on June 26, 2015. In a 5-4 decision, the Supreme Court held that the Fourteenth Amendment requires a State to license a marriage...more

Holland & Knight LLP

United States v. Windsor: A New Direction in Planning for Same-Sex Couples

Holland & Knight LLP on

On June 26, 2013, the U.S. Supreme Court in United States v. Windsor1 overturned Section 3 of the Defense of Marriage Act ("DOMA"), which had defined marriage as a union between a man and a woman.2 As a result, married...more

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