News & Analysis as of August 4, 2025

Tax Liability

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Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.

Federal Estate, Gift and GST Tax Highlights from the One Big Beautiful Bill Act

Haynes Boone on 7/31/2025

The recently enacted One Big Beautiful Bill Act (OBBBA) brings sweeping and permanent changes to the federal estate, gift and generation-skipping transfer (GST) tax landscape. Most notably, it significantly increases the...more

The Estate Planner, March/April 2025

Shumaker, Loop & Kendrick, LLP on 3/7/2025

Now’s the time to review your GST tax exposure Absent congressional action this year, the federal gift and estate exemption and the generation-skipping transfer (GST) tax exemption (currently $13.99 million) are scheduled...more

Decanting: Useful for Trusts as Well as Wine

Warner Norcross + Judd on 1/23/2025

You likely have created revocable or irrevocable trusts, or a few of both, in your estate plan. Ideally, these have been properly drafted with plenty of flexibility so that they can continue to meet your wealth planning goals...more

The Time to Plan for Tax Code Changes Is Now

Rivkin Radler LLP on 10/19/2020

The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...more

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

Sheppard Mullin Richter & Hampton LLP on 12/21/2017

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

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