News & Analysis as of September 6, 2025

Trusts

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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 -

A Look at the Tax Implications of Gifting Qualified Small Business Stock

Holland & Knight LLP on 9/2/2025

In general, stock must be acquired at "original issuance" from the corporation in order to qualify for qualified small business stock (QSBS) treatment under Internal Revenue Code (IRC) Section 1202. As discussed in a previous...more

10 Reasons Why You Should Make Estate Planning Your New Year’s Resolution

Bowditch & Dewey on 12/31/2024

People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2024, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $2 million. A...more

The Incomparable IDGT: The Gift That Keeps on Giving

Saul Ewing LLP on 10/30/2024

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

The Future of Estate Planning: Preparing for Upcoming and Uncertain Legal Changes

Kohrman Jackson & Krantz LLP on 8/5/2024

The American housing market is grappling with escalating interest rates and limited inventory, pricing many Americans out of home ownership. Massachusetts’s senior Senator Elizabeth Warren seeks to address this issue in the...more

West Coast Forum 2023 | Key Takeaways

McDermott Will & Schulte on 12/4/2023

McDermott’s Private Client Practice led interactive discussions on a broad range of topics pertinent to ultra-high-net-worth families, their family office representatives and other advisors at our Private Client West Coast...more

Wealth, Legacy and the Next Generation: Getting Started and Other Considerations

Lathrop GPM on 11/2/2023

Legacies and estate planning are often considered to be something later in life. Yet the truth is none of us have any idea when we might become incapacitated or pass away and consequently, understanding the various scenarios...more

Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs

McGuireWoods LLP on 6/21/2023

Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through...more

Charitable Bequest Allocation Turns on Donor’s Expressed Intent

Downey Brand LLP on 4/25/2023

Charities sometimes spar over entitlement to bequests and other planned gifts. Occasionally, their disagreements become epic legal battles that span many years. In Breathe Southern California v. American Lung Association...more

You “Placed Your Trust” In New York? You May Be Sorry You Did

Rivkin Radler LLP on 2/3/2023

According to a report issued by the National Association of Realtors a couple of days ago, last year saw a large outmigration of people from California and New York, while Florida and Texas experienced a comparably large...more

House of Representatives 5376: Current Tax Legislation Pending in the U.S. House of Representatives

Foster Garvey PC on 10/15/2021

...The federal tax laws are certainly about to change. With the need to raise revenue as a top priority for the Biden Administration, everyone is expecting dramatic changes to the Internal Revenue Code. Tax legislation is...more

To Give or Not to Give: Considerations for Year-End Gifting

Cohen Seglias Pallas Greenhall & Furman PC on 1/14/2021

Presented by Cohen Seglias attorney Whitney Patience O'Reilly on December 15, 2020. As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any...more

[Webinar] To Give or Not to Give: Considerations for Year-End Gifting - December 15th, 12:00 pm - 12:30 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 12/8/2020

As we approach the end of the year, individuals face decisions about whether or not to gift money and the potential ramifications for any gifts they make now or in the future. Join Whitney O’Reilly in this interactive webinar...more

Maximizing End-of-Year Charitable Giving

Bowditch & Dewey on 11/25/2020

As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more

When Your Estate Plan Includes Real Property

Shutts & Bowen LLP on 10/28/2020

Bank accounts, life insurance, investments, furniture, jewelry, art and collectibles are among the many assets to consider when planning your estate. However, your home and other real estate may be among the most valuable and...more

Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions

Farella Braun + Martel LLP on 9/29/2020

- Annual inflation-indexing continues to increase the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer taxes. Those of considerable wealth who have not yet made gifts, such as...more

Estate Planning is On Sale Again!

Harris Beach Murtha PLLC on 3/30/2020

Twelve years ago, the nation entered the Global Financial Crisis, caused by a combination of artificially inflated real estate prices and behaviors by certain financial institutions ranging from speculative to criminal. The...more

What You Need To Know About Giving Annual Gifts To Children And Grandchildren

Tarter Krinsky & Drogin LLP on 6/6/2019

Many of our clients like to make annual gifts to their children and grandchildren. Such gifts may be subject to a gift tax (to be paid by the donor,) however, federal law offers certain exceptions that can help gift givers...more

McNees Insights Estate Planning News - September 2018

McNees Wallace & Nurick LLC on 9/20/2018

Modifying Irrevocable Trusts 101 - As family and financial circumstances change with time, clients often desire to modify the terms of the trusts they have created. Even if a trust is irrevocable, in Pennsylvania there are...more

Insight on Estate Planning - April/May 2016

Adler Pollock & Sheehan P.C. on 4/4/2016

Have you addressed elderly parents in your estate plan? Typically, an estate plan includes accommodations for your spouse, children, grandchildren and even future generations. But some members of the family can be...more

Ten Tips for a Successful Business Succession Plan

McNees Wallace & Nurick LLC on 3/2/2016

Passing along a family business can be tricky business. There are a variety of legal, tax, and emotional issues that can complicate the process. A well thought out plan made far in advance of the events requiring the plan is...more

Trust and Estate: Changes made to the Florida Uniform Transfers to Minors Act

Bond Schoeneck & King PLLC on 8/27/2015

Every spring, the Florida legislature meets in regular session, and seemingly in every session significant changes are made to Florida’s trust and estate laws. Once again in 2015 changes were made to the Florida Uniform...more

The basics of basis: Basis planning can result in significant tax savings

Adler Pollock & Sheehan P.C. on 6/11/2015

Because the gift and estate tax exemption is at a record high of $5.43 million for 2015, many people have shifted their focus from estate planning to income tax planning. An understanding of basis — and the benefits of the...more

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