News & Analysis as of

Taxation Estate Planning Gift Tax

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...

Frost Brown Todd on

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

Arnall Golden Gregory LLP

Increased Wealth Transfer Tax Exemptions Made Permanent in One Big Beautiful Bill

The new tax cut and spending bill known as the “One Big Beautiful Bill Act,” which was signed into law on July 4, 2025, increases federal estate, gift, and generation-skipping transfer (“GST”) tax exemptions to $15 million...more

Miller Canfield

One Big Beautiful Bill: Estate and Gift Tax Exclusion and the Generation-Skipping Transfer Tax Exemption Increases to $15 Million

Miller Canfield on

The One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump on July 4, increases the amount individuals may transfer for federal estate, gift, and generation-skipping transfer tax...more

Freeman Law

Residency for Federal Taxation

Freeman Law on

Residence may seem to be a relatively simple thing to determine. It’s where you live, right? Well, leave it to the Internal Revenue Code to complicate this question. There are different tests for residency when it comes to...more

McDermott Will & Schulte

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

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

Rivkin Radler LLP

Disclaiming to Save Taxes

Rivkin Radler LLP on

It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more

McDermott Will & Schulte

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

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

Schwabe, Williamson & Wyatt PC

Some Estate Planning and Business Transition Issues Not to Overlook Before 2021 Year-End

As we enter the final quarter of 2021, there are many things still to do and plan for before the end of the year. There are also some timing considerations given proposed legislative changes and the lead time needed to...more

Polsinelli

Impact of New Tax Laws on Estate Planning

Polsinelli on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

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