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Estate Planning › Exclusions

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 -
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

Frost Brown Todd

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later...

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On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget...more

Jaburg Wilk

Exclusions, Exemptions, Estate Tax – What to Know in 2025

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As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year. Annual Exclusion Amount- ...more

Lathrop GPM

Estate Planning 2025 Federal Tax Update

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As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information as you consider 2025 planning options. ...more

Kohrman Jackson & Krantz LLP

IRS Increases 2025 Federal Estate Tax Exemption and Gift Tax Exclusions: Key Points for Taxpayers

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Estate planning is a lot like putting together a puzzle. The client provides you with their box lid showing what they want the ultimate result of their plan to look like. Then, estate planners are tasked to identify and...more

Rivkin Radler LLP

Thinking About Making Taxable Gifts Before the 2026 Sunset?

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As we will see shortly, it is often “better to give than to receive,” though this statement begs the obvious question of whether it is better to do so during one’s lifetime or upon one’s death. Many well-to-do individuals...more

Lasher Holzapfel Sperry & Ebberson PLLC

Avoid the Estate Planning Exemption Cliff: Plan to Take Advantage of the Current Exemption Before it Expires

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In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but one of the most...more

McDermott Will & Emery

Window Closing for New Yorkers to Take Advantage of Expanded Federal Tax Exclusions and Exemptions

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The federal gift and estate tax exclusions and the generation-skipping transfer (GST) tax exemption increased significantly under the Tax Cuts and Jobs Act of 2017 (TCJA). Recent inflation adjustments have expanded them even...more

Amundsen Davis LLC

New Gift and Estate Tax Exemption Limits for 2024

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The Internal Revenue Service has announced the new limits for the Gift and Estate Tax Exemption for 2024, the amount of taxable gifts that can be made during lifetime and/or the amount that can be passed at death without...more

McDermott Will & Emery

Expanded Federal Tax Exclusions and Exemptions Mean Greater Opportunities for New Yorkers

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The federal gift and estate tax exclusions and the generation-skipping transfer (GST) tax exemption increased significantly under the Tax Cuts and Jobs Act of 2017 (TCJA). Recent inflation adjustments have expanded them even...more

Warner Norcross + Judd

Three Estate and Gift Tax Strategies to Consider Before Selling Your Business

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For a business owner considering the sale of their business, there are two competing goals: maximizing the proceeds from the sale and minimizing the estate and gift taxes that will be due on the owner’s enhanced estate....more

Levenfeld Pearlstein, LLC

The Gift, Estate, and GST Tax Exclusion Increased by an Unprecedented $860,000 in 2023: How You Can Make the Most of It

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$860,000 – that is the amount of the increase in the gift, estate, and generation-skipping transfer (“GST”) tax exclusion that came into effect on January 1st when the exclusion increased from $12.06 million for 2022 to...more

Saiber LLC

IRS Announces Increases to Estate, Gift and Generation Skipping Transfer Tax Amounts for 2023

Saiber LLC on

The basic exclusion amount is the total amount that an individual may pass by gifts made during his or her lifetime or by devises and bequests at his or her death without liability for federal estate, gift or generation...more

Woods Rogers

‘Tis the Season (For Charitable Giving)

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The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more

Lasher Holzapfel Sperry & Ebberson PLLC

Estate Planning 101: Making Exempt Gifts

Lasher Holzapfel Sperry & Ebberson PLLC on

I have yet to meet a client who wants to pay estate taxes. Tax avoidance is among the primary reasons people meet with estate planning attorneys and develop estate plans. In 2022, the federal gift, estate, and generation...more

Levenfeld Pearlstein, LLC

Insurance. Insurance Trusts. Insurance Trusts NOW.

Levenfeld Pearlstein, LLC on

“Insurance.” The word itself evokes different reactions. The range of emotions expands when we mention “life insurance.” And if we add, trust – “life insurance trust” – you may just stop reading. But don’t. Now is exactly the...more

Proskauer Rose LLP

Lowered Interest Rates Due To Coronavirus Makes Intra-family Loans an Effective Estate Planning Tool

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As a result of the Federal Reserve Bank's recent stimulus and interest rate decreases in response to the coronavirus, intra-family loans can be used to transfer wealth to future generations with no gift tax consequences as...more

Ward and Smith, P.A.

Lifetime Transfers of Family Business Interests: An Estate Tax Planning Opportunity in Uncertain Political Times

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When a family business owner's goal is to ultimately pass ownership of the business on to the next generation, business succession planning and the owner's estate planning are inextricably linked. The most difficult issues...more

Burr & Forman

The Federal Generation-Skipping Transfer Tax: the Often Forgotten Transfer Tax

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Many people are aware of the federal gift tax and the federal estate tax (sometimes referred to as the ‘death tax’). These are the transfer taxes which are imposed on transfers during life, by gift, or at death. In 2019, a...more

Chambliss, Bahner & Stophel, P.C.

Top 5 Tax Considerations Related to Your Estate Planning

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It's time to start the conversation with your tax advisor. The 2019 filing deadline is Monday, April 15. Note the new tax brackets. The new law imposes a new tax rate structure with seven tax brackets for 2018: 10%, 12%, 22%,...more

Snell & Wilmer

IRS Raises Impetus to Make Gifts Now With Proposed Regulations Protecting Gifts From Double Tax

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On November 23, 2018, the Internal Revenue Service (“IRS”) proposed new regulations that prevent individuals who make a gift of more than $5,000,000 before 2026 from being double taxed on those gifts if they die after 2026.1...more

Verrill

2018 Year-End Estate Planning Update

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Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Burr & Forman

Tax Reform and Estate Planning: How the 2017 Tax Cuts and Jobs Act Impacts Estate Plans for McNair Clients

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When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more

Tucker Arensberg, P.C.

Unified Credit for Estates & Annual Exclusions for Gifts Increased for 2018

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The IRS announced that the Unified Credit for Estates and Annual Exclusion for Gifts will be higher in 2018. Unified Credit Against Estate Tax. For an estate of any decedent dying in calendar year 2018, the basic...more

Burr & Forman

Projected Estate and Gift Tax Exemptions for 2018 – How Much Can You Transfer?

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The Consumer Price Index was released by the Labor Department in August 2017. Not everyone anxiously awaits the release of these numbers but the experts have now made estimates of how they will impact estate, gift, and...more

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