News & Analysis as of September 4, 2025

Generation-Skipping Transfer

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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.

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

Cole Schotz on 7/22/2025

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

Estate Planning Provisions in the One Big Beautiful Bill Act

Perkins Coie on 7/22/2025

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

Estate and Tax Planning 2023 Update: Act While You Can

Pillsbury Winthrop Shaw Pittman LLP on 10/19/2023

Although the IRS is now on high alert for wealthy individuals, new and existing planning opportunities are available, such as tax-free gifts and other advantageous planning. Wealthy individuals and families should take...more

Update - Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on 10/6/2021

Last month, the House Ways & Means Committee (the "Committee") approved draft legislation (the “Legislation”) as part of Congress' ongoing $3.5 trillion budget reconciliation process. The Legislation includes significant tax...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

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