News & Analysis as of

Tax Deductions Estate Planning Tax Planning

Cozen O'Connor

What Canadian High Net Worth Families Should Know About the U.S. One Big Beautiful Bill

Cozen O'Connor on

The United States recently passed tax legislation called the One Big Beautiful Bill Act (OBBBA), a follow-up to the 2017 Trump tax cuts. While the bill is American, many Canadian families with cross-border ties, including...more

Cozen O'Connor

The Big Beautiful Bill: What Every High Net Worth Family Needs to Know

Cozen O'Connor on

The One Big Beautiful Bill Act (OBBBA), signed by President Donald Trump on July 4, 2025, brings sweeping changes to the tax code. While the name may sound like a marketing pitch, the law itself includes significant updates...more

Cole Schotz

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

Cole Schotz on

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

Perkins Coie

Estate Planning Provisions in the One Big Beautiful Bill Act

Perkins Coie on

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

Mintz

Understanding the One Big Beautiful Bill Act: Key Tax Changes for Business Owners and Estate Planning Clients

Mintz on

The One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025. This legislation introduces changes that will impact estate, tax, and business planning strategies for many business owners and high-net-worth individuals and...more

Verrill

Permanent Exemptions and New Deductions: What the 2025 Tax Law Means for Estate and Tax Planning

Verrill on

On July 4, 2025, President Trump signed into law the 2025 Budget Reconciliation bill, commonly known as the One Big Beautiful Bill Act (“Act”). This legislation extends several provisions from the Tax Cuts and Jobs Act...more

Husch Blackwell LLP

Estate Planning and Other Tax Strategies under the One Big Beautiful Bill Act

Husch Blackwell LLP on

President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025. The OBBBA represents a significant overhaul of the U.S. tax system, making permanent many provisions of the 2017 Tax Cuts and Jobs...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Three Key Planning Notes

Lowenstein Sandler LLP on

Last week, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA). At nearly 900 pages in length, OBBBA’s size lives up to its name by enacting sweeping changes to estate and gift taxes, income taxes,...more

McDermott Will & Schulte

Key One Big Beautiful Bill Act implications for family offices and high-net-worth investors

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), the most significant US tax overhaul since the 2017 Tax Cuts and Jobs Act (TCJA). The OBBBA includes critical changes impacting family offices,...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Unpacking the One Big Beautiful Bill: What Changes Are Required to Optimize Your Estate Plan?

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA is the tax and budget reconciliation package for the current 2025 fiscal year through 2034. While the bill focuses primarily...more

Bilzin Sumberg

Key Tax Provisions in the One Big Beautiful Bill Act: What Individuals and Businesses Need to Know

Bilzin Sumberg on

The enactment of the One Big Beautiful Bill Act (“OBBBA”) on July 4, 2025 is the first key piece of tax legislation passed during President Trump’s second administration. While preserving much of the structure established...more

Fleurinord Law PLLC

From the Sidelines to Six Figures: Smart Tax Planning for NIL-Earning Student Athletes

Fleurinord Law PLLC on

Just a few years ago, if you were a student-athlete, you had two options: maintain eligibility or get paid. You couldn’t have both. That all changed on July 1, 2021, thanks to a landmark shift that rocked the college sports...more

Goodwin

OBBBA Solidifies High Estate Tax Exemptions & Charitable Giving Changes

Goodwin on

President Trump’s July 4th signing of the Opportunity, Balance, and Better Budget Act sets an increased $15 million federal estate and gift tax exclusion and generation-skipping transfer tax exemption per individual,...more

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

Fleurinord Law PLLC

Betty White’s Love for Animals and How Pet Trusts Can Protect Your Furry Friends

Fleurinord Law PLLC on

Betty White wasn’t just America’s beloved “Golden Girl”—she was also a passionate, lifelong advocate for animal welfare. As a longtime trustee of the Greater Los Angeles Zoo Association (GLAZA) and a dedicated supporter of...more

Rivkin Radler LLP

Transferring the Family Business To A Private Foundation? Are You Sure About That?

Rivkin Radler LLP on

Charitable organizations are dependent, in no small part, upon the financial support of many successful business owners. The generosity of these individuals and their organizations may be a manifestation of several factors...more

Offit Kurman

Not Considering the Importance of Charitable Giving

Offit Kurman on

When a client’s family does not wish to inherit a collection or if its inclusion in the estate would create a significant tax burden, it is crucial to explore charitable giving options. Proper planning can help maximize the...more

McDermott Will & Schulte

Weekly IRS Roundup October 28 – November 1, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 28, 2024 – November 1, 2024....more

Allen Barron, Inc.

The Sunset of the TCJA – Tax Cuts and Jobs Act of 2017 – Is Scheduled for the End of 2025

Allen Barron, Inc. on

The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025.  The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers.  How should a US...more

Katten Muchin Rosenman LLP

2023 Year-End Estate Planning Advisory

We have certainly had our share of turbulent waters in the estate planning world from 2020-2022. With two significant elections, it is hard to remember a previous time with such substantial uncertainty about how tax planning...more

Allen Barron, Inc.

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on

What are the most important elements of estate and tax planning for US expatriates?  Are you planning to move out of the United States?  Are you a US taxpayer who lives and works outside of the country?  What are some of the...more

Ward and Smith, P.A.

Is Your Estate Plan Past Due for a Check-Up?

Ward and Smith, P.A. on

Estate planning professionals help clients look ahead and anticipate future contingencies. By necessity, however, estate plans are crafted based on laws and circumstances existing at the time they are put in place. This...more

Ward and Smith, P.A.

Estate Tax Panning for Married Couples: Using Estate Tax Exemptions

Ward and Smith, P.A. on

A primary goal of most married couples when contemplating basic estate planning documents is to ensure that the surviving spouse, and commonly, the couple's children and grandchildren, are supported financially. Permissible...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Trust Planning 101: Grantor Trusts - June 20th, 12:00 pm - 12:45 pm ET

Grantor trusts allow for tax deductions on income generated by trust assets whereas non-grantor trusts do not allow for these deductions. It is crucial for people to carefully decide which type of trust is best for their...more

A&O Shearman

2022 Year End Estate Planning Advisory

A&O Shearman on

The current estate planning landscape is drastically different than it was at the beginning of this year. After an extended period of historically low rates of interest and inflation, this year the Federal Reserve began...more

69 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide