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Last update: Mar 19, 2007
Greenberg Traurig: The Private Trust Company - A Fiduciary Services and As... Mar 01, 2006
High net-worth families seek flexible and creative solutions to meet their estate planning and asset management goals. Despite these attractive features, advisors have been reluctant to recommend PTC's because of the uncertainty surrounding its treatment for estate tax purposes
Cooley Godward: The Deductible New York Estate Tax Feb 01, 2006
This deduction is decidedly a mixed blessing and requires careful planning to deal with the side effects, which estate practioners began to see on October 1, 2005, when estate tax returns first became due for estates eligible for the new deduction. To view full article, click here
Ropes & Gray: Susman named ???Outstanding Healthcare Antitrust Lawyer... Jan 27, 2006
Gibbons: Charitable Remainder Trusts: Effective Planning for Ret... Jan 01, 2006
Rita M. Danylchuk GIBBONS, DEL DEO, DOLAN, GRIFFINGER IONE Individuals nearing retirement or who have already retired with an investment portfolio consisting of low basis assets may be concerned with the capital gains tax that must be paid on sale of these assets if a sale is necessary or desirable to provide liquidity in retirement or diversify an investment portfolio. The IRS will impose an estate tax on retirement assets at a current rate of approximately 47
Ropes & Gray: Forbes named ???Outstanding Healthcare Transaction Lawy... Nov 29, 2005
Gibbons: Deferral of Capital Gains Nov 14, 2005
...have already retired with an investment portfolio consisting of low basis assets may be concerned with the capital gains tax. If these retirement assets are sold -- a sale is often necessary or desirable to provide liquidity in retirement or diversify an investment portfolio -- a capital gains tax must be paid
Greenberg Traurig: Restricted Management Accounts: An Alternative to the F... Oct 01, 2005
Due to the investor’s inability to control or access the RMA assets, the value of the RMA may be discounted for estate and gift tax purposes.” An RMA is an investment account established under a written agreement between an investor and an investment manager. Benefits of Using an RMA Due to the investor’s inability to control or access the RMA assets, the value of the RMA may be discounted for estate and gift tax purposes
McDermott: Domingo P. Such III Jul 01, 2005
Domingo concentrates in financial, estate and tax planning matters as it relates to ownership in various forms, which provides him with particularly broad legal perspectives in counseling family-owned and/or privately-held businesses and family members. Domingo s experience includes transfer tax, income tax, business planning, executive compensation planning for private and public companies, charitable and probate administration, as well as corporate transactions, including structuring,
Gibbons: Corporate and Finance Alert Jun 02, 2005
An IDGT is a trust under which a Grantor is treated as the owner of trust assets for income tax purposes, but not for gift or estate tax purposes. IDGTs can be used as estate freezing vehicles, allowing an individual to transfer assets with the potential for substantial appreciation out of the individual's estate with favorable estate, gift and generation-skipping transfer tax results
Gibbons: Intentionally Defective Grantor Trusts -- A creative an... May 09, 2005
ESTATE PLANNING Intentionally Defective Grantor Trusts. A creative and effective estate planning technique, IDGTs can result in substantial federal estate tax savings
Greenberg Traurig: The Decoupling of Federal and State Estate Taxes Mar 22, 2005
Practicing Law Institute Valuation, Taxation ing Techniques for Sophisticated Estates 2005. THE DECOUPLING OF THE FEDERAL AND STATE ESTATE TAXES
Long & Levitt: Borissoff v. Taylor & Faust (2004) 33 Cal.4th 523 Nov 15, 2004
The California Supreme Court decides that the Probate Code gives a successor fiduciary standing to sue tax counsel retained by predecessor fiduciary. He engaged Taylor to represent him and they prepared an allegedly improper estate tax return
Chapman and Cutler: November 2004 Nov 01, 2004
For additional information about the material in this issue please contact one of the following Trusts and Estates attorneys: David S. Crossett (312) 845-3011 crossett@chapman. Asset Allocation and Tax Changes to Illinois 529 Plans
Fox Rothschild: Estate Planning for Non-Citizens Residing in the United... Oct 01, 2004
TAX ES AND IMMIGRATION PRACTICE GROUPS. ESTATE PLANNING FOR NON-CITIZENS RESIDING IN THE UNITED STATES
Greenberg Traurig: Issues in Developing Legal Structures for Global Famili... Oct 01, 2004
However, this information is crucial to determining the potential tax and non-tax issues that may affect the design and implementation of any proposed structure. Depending on applicable law, the location of an asset may subject its owner to certain taxes or restrict its transfer, particularly when real property is involved
Hodgson Russ: Estates & Trusts Practice Brochure Sep 28, 2004
Services also include estate and trust administration, from the initial probate of a Will or appointment of an Administrator through the filing of all required tax returns and preparation of accountings to the ultimate distribution. In addition to traditional estate planning, the members of the group address a wide variety of personal or family issues, including: Antenuptial agreements Guardianships Health care decision making Medicaid planning and qualification General and special powers of
Mintz Levin: Benefits Alert: Massachusetts Department of Revenue Iss... Aug 01, 2004
Entitled "Massachusetts Tax Issues Associated with Same-Sex Marriage," Technical Information Release 14-17 (the "TIR") covers a range of income, gift and estate tax issues. The TIR recognizes that Federal law does not permit same-sex marriage, and it goes on to describe how taxpayers should comply with particular requirements of Massachusetts law that diverge from the corresponding Federal standards
Sullivan & Worcester: Sullivan & Worcester Benefits Brief Jul 01, 2004
...write( '' ); // -- Sullivan & Worcester Benefits Brief Employment its Department Client Alert July 2004 Same-Sex Marriage The Massachusetts Department of Revenue has issued guidance on the Massachusetts tax issues associated with same-sex marriages, in the form of Technical Information Release 04-17. Beginning with the 2004 tax year, the Commonwealth will recognize valid same-sex marriages for various state income, sales and use, and estate tax purposes
Pepper Hamilton: How the Disconnect Between the Income and Estate Tax Ru... Apr 22, 2004
Law Firm of Pepper Hamilton LLP | Publications @import "style.css"; -- Register/Login Publications How the Disconnect Between the Income and Estate Tax Rules Created Planning for Grantor Trusts 04/22/2004 This article originally appeared in the April 2004 issue of the Journal of Taxation. For nearly three-quarters of a century, taxpayers have sought to use trusts to save on income and estate taxes
Hodgson Russ: The use of a single-purpose corporation by Canadians to... Mar 11, 2004
Hodgson Russ LLP - Attorneys Antitrust Banking Bankruptcy rcial Litigation Business Litigation Corporate ities Customs Education Law Employee Benefits Employment Litigation Environmental Estates s FDA Florida Family al General / International Tax Government Relations Health Law HIPAA Immigration Insurance urance Intellectual Property ology Law International / Cross-Border Labor yment Municipal Law Nonprofit Law Real Estate ce State Tax Tax Dispute Resolution Telecommunications Torts, Insurance
Riker Danzig: Answers to your Estate Planning Questions March 2004 Mar 01, 2004
CONTENTS Wills, Trusts and Probate Basic Estate Planning Probate and Probate Avoidance Trusts Wealth Transfer Taxes NJ Estate Taxes NJ and Gifts Federal Estate Taxes Marital Deductions Bypass Trusts Estate Tax Repeal Generation Skipping Transfer Tax Gifts and Trusts Educational Trusts Life Insurance Trusts Real Property Issues Taxable Gifts Special Planning Situations Family Businesses Blended Families Planning with IRAs Real Property in Other States Charitable Giving Healthcare Directives and
Bell: Estates & Trusts Update January 2004 Feb 01, 2004
Estates and Trusts Update. Inside this Issue: · Why Should I Bother With Estate Planning
Debevoise: New Estate and Gift Tax Thresholds for 2004 Jan 22, 2004
As you may recall from our past updates, some of those changes were effective prior to this year, but there are also a number of significant changes for 2004 that may have an impact on clients’ estate planning. A. Reduction in Top Marginal Rate The top marginal Federal estate, gift and generation-skipping transfer ("GST") tax rate is reduced to 48% in 2004 from 49% last year
Ropes & Gray: Ropes & Gray Hosts International Arbitration Seminar Nov 13, 2003
Baker Botts: Stephanie Loomis-Price Nov 01, 2003
Ms. Loomis-Price also counsels clients regarding estate administration. She currently serves as probate editor of the quarterly Real Estate, Probate and Trust Law Reporter published by the State Bar of Texas
Ropes & Gray: Ropes & Gray LLP Advises on New England's Two Larg... Oct 13, 2003
Sutherland Asbill & Brennan: Interview: Lloyd Leva Plaine Interviewed by Jerald Davi... Aug 01, 2003
Author: Lloyd Leva Plaine is in charge of the individual tax planning practice group at Sutherland Asbill an LLP (Washington, D.C. office). Lloyd is a frequent lecturer on gift tax, estate tax, income tax, and generation-skipping transfer tax and has written and published numerous articles in these areas
Blank Rome: Private Client Group Estate Planning Alert Jul 01, 2003
We recently became aware that the New York State Department of Taxation's interpretation of the new Federal Estate Tax Act, and its impact on New York's estate tax laws, can potentially have an adverse result for a non-New York domiciliary who continues to own real property or tangible personal property located in New York at death. New York imposes an estate tax on non-resident decedents, with assets over $1,000,000, who owned real property or tangible personal property located in New York at
Sidley Austin: Estate Planning - Private Clients Group Newsletter July... Jul 01, 2003
ESTATE PLANNING - PRIVATE CLIENTS GROUP. The Estate Planning - Private Clients Practice of Sidley Austin Brown LLP Our estate planning practice has built its reputation for excellence through a century of advising clients on a broad range of legal matters
Chapman and Cutler: July 2003 Jul 01, 2003
Chapman and Cutler For additional information about the materials in this issue, please contact one of the following Trusts and Estate attorneys: David S. Crossett (312) 845-3011 F. B. Hubachek, Jr. (312) 845-3008 Charles A. Kelly (312) 845-3009 David A. Lullo (312) 845-3902 Suzanne L. Shier (312) 845-2983 Rebecca Wallenfelsz (312) 845-3442 James N. Zartman, retired (312) 845-2983 Chicago, IL 111 West Monroe Street Chicago, IL 60603 (312) 845-3000 FAX: (312) 701-2361 TWX: (910) 221-2103 Telex:
Winstead: Planned gifts will provide future support (10 kb) Jun 22, 2003
This does not provide an income tax deduction, but the donor's estate will receive an unlimited estate tax charitable deduction equal to the value of the charitable gift. This reduces potential estate tax that may otherwise be due
Lord: Client Alert: Short-Term Estate Tax Planning May 01, 2003
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Ropes & Gray: Ropes & Gray's Private Equity Group Cited Among To... Apr 11, 2003
Blank Rome: Winter 2003 Jan 01, 2003
Click here to view Blank Rome LLP's complete newsletter index Click here to view all members of the Private Client practice group Contents: State Death Taxes Are On The Rise Is Your Estate Plan Due for a Tune-Up. Changes in the Federal Estate Tax May Affect Planning For Small to Modest Sized Estates 2003: A NEW YEAR, A NEW NAME, A NEW ESTATE PLAN
Baker Botts: Estate Tax Procedure Dec 03, 2002
The Tax Court based its decision on the restrictive nature of the LLC interests transferred and its holding that the interests did not confer, in the court’s opinion, substantial presently realizable economic rights on the donees. He selected an LLC to obtain liability protection for members, to provide protection of assets inside the LLC from members’ creditors, to provide passthrough tax treatment and to provide for centralized management for the operation of the family tree farming business
Greenberg Traurig: Planning For the New York Frozen Pick-Up Tax Dec 01, 2002
Linda Hirschson In Joshua S. Rubenstein’s article in the prior issue of this digest,2 he discussed the impact this phase-out will have on all of the states that base their estate taxes on the federal state death tax credit. As indicated therein, those states such as Florida ("conforming states") which levy an estate tax equal to the then available credit will suffer a reduction in state revenue as the credit decreases to zero
Katten Muchin Zavis Rosenman: New Estate Tax Law and Gift Tax Law Nov 07, 2002
Katten Muchin Zavis Rosenman: Executive Summary: Estate Tax and Gift Tax Changes Nov 02, 2002
Thompson & Knight: 10/08/2002 - The Impact of Estate-Tax Repeal Oct 08, 2002
The Impact of Estate-Tax Repeal var bookmarkurl="http://www.tklaw.com/website.nsf/_/1483ADD2351B47E986256C4C0059081D" var bookmarktitle="Thompson t L.L.P - The Impact of Estate-Tax Repeal" var isReady = false; function addbookmark(){ if (document. mmLoadMenus(); The Impact of Estate-Tax Repeal More Articles: A Case Study -- Retail Electric Provider Bankruptcies The 1989 AAPL Model Form Operating Agreement: Why Are You Not Using It
Testa: MICRO VIEW - Estate Taxes Oct 01, 2002
The Economic Growth and Tax Relief Reconciliation Act of 2001 began a phase-out of the federal tax credit for state death taxes. Since 1997, the Massachusetts estate tax has been based on the amount of this federal credit
Greenberg Traurig: How Can You Save Estate Taxes Using an Estate Freeze? Oct 01, 2002
How Can You Save Estate Taxes Using an Estate Freeze. The basic concept of a freeze is to exchange an appreciating asset for one that has a fixed value for estate tax purposes, thereby "freezing" the value of your taxable estate
Pitney Hardin: New Changes Made to New Jersey Estate Tax Law Sep 20, 2002
First, the GOOD NEWS:GOOD NEWS: As you have doubtless become aware, the federal estate tax exemption has increased from $675,000 to $1 million. In 2010, the federal estate tax is slated to be repealed, but only for that year
Testa: Senate Rejects Permanent Repeal of Estate Taxes Jun 14, 2002
Under the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA"), the estate tax is scheduled to be repealed in 2010, but only for that year. In 2011 the repeal is scheduled to "sunset" and the estate tax will be reinstated in its current form
Testa: Senate Rejects Permanent Repeal of Estate Taxes Jun 14, 2002
FEDERALAND STATE TAXATION. June 14, 2002 On Wednesday, June 12th, the Senate defeated by a margin of six votes Republican proposed legislation that would have made estate tax repeal permanent
Michael Best & Friedrich: Estate Planning Update (Spring 2002) Apr 01, 2002
ESTATE PLANNING - Spring 2002 Spring 2002 GRATS: An Estate Tax Reduction Technique with Renewed Vitality [click on title for full article] Grantor Retained Annuity Trusts (“GRATS”) received official blessing in the Internal Revenue Code in 1990, but two recent developments have made them more attractive. Should You Have a Living Trust In Your Estate Plan [click on title for full article] Touted in advertising and the popular press as the single most important estate planning tool, living trusts
McGuire Woods: THE CHALLENGE OF ESTATE PLANNING IN 2002 AND BEYOND: FE... Mar 01, 2002
The Challenge of Estate Planning in 2002 and Beyond. Featuring a Description and Analysis of the 2001 Tax Legislation
Hodgson Russ: Avoiding Probate Fees Feb 02, 2002
Volume 9, Number 12, December 27, 2001 by Alice A. Joseffer New types of Canadian trusts permit Canadian residents to transfer property in trust on a tax-deferred basis and avoid probate. If the Canadian resident is a US citizen or if the property is US-situs, such as real estate, the potential US tax implications could trap the unwary
Alston & Bird: Estate Planning (RIA) has published "Executor'... Feb 01, 2002
Faegre & Benson: Minnesotans Should be Alert to Special Property Tax Ref... Jan 02, 2002
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Michael Best & Friedrich: Estate Planning Update (Winter 2002) Jan 01, 2002
ESTATE PLANNING - Winter 2002 Winter 2002 Family Limited Partnerships: A 10 Step Program [click on title for full article] A family limited partnership ("FLP") is a vehicle frequently used by families to centralize management and control over family assets, protect family assets from the claims of creditors and reduce transfer (gift, estate and generation-skipping) taxes that would otherwise be imposed on the direct transfer of family assets to successive generations. States React to Changes in
Greenberg Traurig: Estate and Gift Taxation of Nonresident Aliens Dec 13, 2001
A. B. Reference Chart for Estate, Gift and Generation Skipping Transfer Taxes Carryover Basis From and After Estate Tax Repeal. Elimination of 5% Estate Tax Surcharge Elimination of Credit for State Death Taxes Elimination of QFOBI Liberalized Tax Treatment of Qualified Conservation Easements Qualified Domestic Trust Distributions Generation Skipping Transfer Tax Installment Payments of Estate Tax
Buchalter Nemer: The Estate Tax Perils of Retaining a Majority Interest Dec 01, 2001
Depending on how the ownership interests are divided among the individuals, the retention of majority and minority interests at death result in very different estate tax results. Before the recent death of his spouse, Frank Founder had never considered the estate tax consequences of retaining 51% of Booming Bikini Business, Inc. Business owners, like Frank Founder, should be concerned with business succession planning in the event of their departure from the business
Michael Best & Friedrich: Estate Planning Update (Fall 2001) Oct 01, 2001
ESTATE PLANNING - Fall 2001 Fall 2001 Planning Under the New Tax Law [click on title for full article] Last summer, the newspapers and news magazines were filled with articles about the new tax law and how the repeal of the estate tax completely changed the landscape for estate planning. Saving for College - A New Look at 529 Plans [click on title for full article] The 2001 Tax Act made some important changes to Section 529 college savings plans that make these plans more attractive than ever
Michael Best & Friedrich: Planning Under the New Tax Law Oct 01, 2001
...com Last summer, the newspapers and news magazines were filled with articles about the new tax law and how the repeal of the estate tax completely changed the landscape for estate planning. The two primary changes in the estate tax law increased the amounts that pass free of estate tax (now called the exclusion amount) and decreased the top estate tax rates
King & Spalding: Trusts & Estates Client Alert: New Tax Act and Other De... Aug 28, 2001
Trusts and Estates: New Tax Act and Other Developments Call for Review of Estate Plans On June 7, 2001, the President signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001. Since we have assisted you with your estate planning in the past, we are writing to discuss some of the implications of this new law, as well as other developments in the law which might affect your estate plan
Sheppard Mullin: There's Good News and Bad News...Estate Tax Repeal... Jul 31, 2001
Estate Tax Repeal and the New Tax Law NS4 = (document. Estate Tax Repeal and the New Tax Law July 31, 2001 Click Here to View a PDF Copy of the Document
Ober Kaler: Memorandum: Summary of Economic Growth and Tax Relief R... Jul 02, 2001
Testa: Congress Has Repealed the Federal State Tax (Micro View... Jul 01, 2001
...xsp; Private Equity Viewpoint Congress Has Repealed the Federal State Tax (Micro View) Henry W. Comstock, Jr. Mark M. Christopher Summer 2001 It has been widely reported that Congress has repealed the federal estate tax. What is not widely known is that the gift tax was not repealed, and estate tax repeal will not go into effect for nine years
Mintz Levin: Trusts and Estates Advisory: 2001 Tax Legislation Jul 01, 2001
Any permanent repeal of the estate tax will require a further act of Congress. The Act does not provide for the ultimate repeal of the gift tax
Debevoise: Estate and Gift Tax Reform and Partial Repeal Jun 12, 2001
President Bush has made repeal of the estate tax a centerpiece of his tax policy. Indeed, the Economic Growth and Tax Relief Reconciliation Act of 2001 (the “Act”), which he signed June 7, nominally repeals the estate tax beginning in 2010
Preston Gates & Ellis: Recent Congressional Changes to the Estate & Gift Tax Jun 08, 2001
Preston Gates & Ellis : Recent Congressional Changes to the Estate Tax ArticlesAlertsNewslettersPresentations 6. 2001Recent Congressional Changes to the Estate TaxOn June 7, 2001, President Bush signed the Tax Relief Reconciliation Act which significantly changes income, estate, and gift taxes
Hale Dorr: Estate Planning under 2001 Estate Tax Repeal Legislatio... Jun 01, 2001
McDermott: Death of the Death Tax? Some Questions and Answers for ... Jun 01, 2001
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Lowenstein Sandler: 2001 Federal Tax Changes Force Taxpayers to Reevaluate ... Jun 01, 2001
G Estate Planning Alert. 2001 Federal Tax Changes Force Taxpayers To Reevaluate Their Estate Plans
Shearman & Sterling: Economic Growth and Tax Relief Reconciliation Act of 20... Jun 01, 2001
Economic Growth and Tax Relief Reconciliation Act of 2001. Today, June 7, 2001, President Bush signed into law the "Economic Growth and Tax Relief Reconciliation Act of 2001" (the "Act")
Foley Lardner: The Economic Growth and Tax Relief Reconciliation Act o... Jun 01, 2001
Tax and Estate Planning Alert. The Economic Growth and Tax Relief Reconciliation Act of 2001: Estate, Gift and GST Tax Provisions
Sullivan & Worcester: The Impact of Recent Estate and Gift Tax Changes on Est... Jun 01, 2001
S&W LLP -> S&W in Print -> S&W Publications -> The Impact of Recent Estate and Gift Tax Changes on Estate Planning S&W Publications | News & Views 444 ) frameHeight = frameHeight - 444; document. write( '' ); // -- The Impact of Recent Estate and Gift Tax Changes on Estate Planning Trusts es Department Client Advisory #2001-04 June 2001 Printable version (Adobe PDF) Background
Winston Strawn: The Economic Growth and Tax Relief Reconciliation Act o... Jun 01, 2001
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Pepper Hamilton: Prepare Now for Possible Major Changes to Federal Estat... May 01, 2001
Michael Best & Friedrich: GRATS: An Estate Tax Reduction Technique with Renewed V... Apr 01, 2001
Estate Planning Update Spring 2002 - GRATS: An Estate Tax Reduction Technique with Renewed Vitality GRATS: An Estate Tax Reduction Technique with Renewed Vitality Contact: Mary-Ann WilsonPhone: (312) 222-6623Fax: (312) 222-0818Email: mawilson@mbf-law. Such a GRAT might work like this: On March 31, 2002, a 55 year-old taxpayer contributes $500,000 of marketable securities to a five-year GRAT. The GRAT provides for a distribution of the GRAT assets to the taxpayer’s children at the end of the five
FROF: Estate Planning in the Post-Estate-Tax World Nov 14, 2000
Michael Best & Friedrich: Estate Planning Update (Fall 2000) Oct 01, 2000
ESTATE PLANNING - FALL 2000 Fall 2000 Planning With Flexible Trusts [click on title for full article] A recent study conducted by Boston College estimates that over the next 50 years, an enormous wave of wealth will be passing from the older generation to the younger generation in America. Estate Tax Repeal Still Possible [click on title for full article] Last summer Congress passed legislation that would have phased out the federal estate tax over the next ten years
Hale Dorr: Private Client Bulletin Sep 01, 2000
FROF: Estate Planning For A Post-Estate Tax World Jul 18, 2000
Sullivan & Worcester: Lifetime Giving Feb 01, 2000
Second, more meaningful but also more uncertain, is the possible reduction and even complete repeal of the estate and gift taxes. Gifts Exempt from the Gift Tax
Debevoise: Year 2000 Estate Planning Opportunities Jan 20, 2000
Two exemptions from the federal gift, estate and generation skipping transfer taxes have increased this year. The increases are as follows: · Unified Credit: A total of $675,000 of lifetime gifts per donor (over and above the $10,000 per donee annual exclusion noted below) are now exempt from gift tax, and if aggregate gifts amount to less, the balance of this “unified credit” will shelter a corresponding portion of the donor’s taxable estate
Paul Weiss: Changes in New York Gift and Estate Law Bring Good News... Jan 01, 2000
CHANGES IN NEW YORK GIFT AND ESTATE LAW BRING GOOD NEWS TO NEW YORK RESIDENTS. PAUL, VVEISS, RIFKIND, VVHARTON SON Changes in New York gift and estate tax law that take effect in January and February 2000 will benefit you financially
Chapman and Cutler: December 1999 Dec 01, 1999
Chapman and Cutler For additional information about the materials in this issue, please contact one of the following Trusts and Estate attorneys: David S. Crossett (312) 845-3011 F. B. Hubachek, Jr. (312) 845-3008 Charles A. Kelly (312) 845-3009 David A. Lullo (312) 845-3902 Suzanne L. Shier (312) 845-2983 Rebecca Wallenfelsz (312) 845-3442 James N. Zartman, retired (312) 845-2983 Chicago, IL 111 West Monroe Street Chicago, IL 60603 (312) 845-3000 FAX: (312) 701-2361 TWX: (910) 221-2103 Telex:
Morgan Lewis: Collecting U.S. Assets of a Non-Resident Decedent Nov 22, 1999
OFFSHORE -- USA Contributed by Morgan, Lewis us LLP Collecting US Assets of a Nonresident Decedent November 23 1999 Introduction Nature of the Problem Obtaining Transfer Certificates Introduction This update highlights US federal tax rules that often delay a non-US fiduciary or heirs of a non-resident decedent from collecting US assets directly owned by the decedent before death. It also describes procedures for complying with the applicable US federal tax requirements in order to collect the
Weil: Changes in Tax Legislation Will Affect Real Estate in t... Jul 01, 1999
Replace Font Tag Central & Eastern European Property & Finance Report Changes in Tax Legislation Will Affect Real Estate in the Czech Republic Summer 1999 The Czech Government has been considering various proposals to change the real estate tax system from the current system, where owners are taxed based on a set tax per square meter of land and buildings which is multiplied by a coefficient for properties located in certain cities. The new system would base real estate taxation on the value of
Isaacson: Estate Tax Relief for Family-Owned Business Requires Do... Apr 01, 1999
Isaacson, Rosenbaum, Woods « Estate Tax Relief for Family-Owned Businesses Requires Document Changes Spring 1999 By: Samuel L. Levy Clients whose estates consist primarily of closely-held business interests may be eligible for recently-enacted estate tax relief. Depending on the year of the business owner’s death, up to $650,000 of the value of the business may be exempted from estate taxes if the business is left to family members one or more of whom will continue to actively participate in
Isaacson: Legislative Success for the Conservation Group Apr 01, 1999
The purpose for this legislation was to have Colorado law authorize an action by a fiduciary, which action now has a potentially significant and advantageous estate tax effect at the federal tax level. The Taxpayer Relief Act of 1997 and the Internal Revenue Service Reform Act of 1998 provided the impetus for this change by allowing an estate tax charitable deduction for the donation of a conservation easement made "post mortem" (after decedent’s death)
FROF: Significant Federal Tax Savings through the Qualified P... Mar 23, 1999
FROF Articles - Significant Federal Tax Savings through the Qualified Personal Residency Trust (QPRT) function displayAttorney(aID) { win = window. open("/inside/attorney.asp?IC=y aID,'_blank','menu=yes,height=410,width=630,scrollbars=yes,toolbar=yes,location=no,directories=no,status=no,resizable=yes'); } Significant Federal Tax Savings through the Qualified Personal Residency Trust (QPRT) by Norman Leibovitz The Qualified Personal Residency Trust (QPRT) can offer significant federal tax savings
Shearman & Sterling: Recent Estate and Gift Tax Proposals Would Eliminate Tw... Mar 01, 1999
Recent Estate and Gift Tax Proposals Would Eliminate Two Key Planning Opportunities. The following are the two significant proposals in the estate and gift tax area, both of which were also proposed but not enacted last year
FROF: Local Tax Control Act Oct 22, 1998
Kilpatrick Stockton: Prepay Your Estate Tax Sep 01, 1998
Isaacson: Conservation Tax Alert Sep 01, 1998
This law provides a technical correction to the 1997 Taxpayer Relief Act clarifying that a "post-mortem" (after decedent's death) donation of a conservation easement will qualify for the estate tax charitable deduction under I.R.C. '2055(f) so long as the easement is a "qualified conservation easement" pursuant to I.R.C. '2031(c). I.R.C. '2055(f) allows decedent's estate to receive an estate tax deduction for the donation of a conservation easement made to a qualified charity at decedent's death
Isaacson: Conservation Tax Alert Sep 01, 1997
Provisions of the Act which will affect land conservation include the following: Partial exclusion from estate tax for certain land subject to a qualified conservation easement. Liberalization of treatment of severed mineral rights for conservation easement tax deductions
Jones Day: Estate Tax Repeal? (Don't Believe the Hype) Apr 30, 1997
As you know, over the Memorial Day weekend, Congress passed a tax package providing a $1. Included in the tax bill are sweeping changes to the federal transfer tax rules (the estate tax, the gift tax, and the generationskipping transfer tax)
Isaacson: Landowners Preserve Open Space While Earning Tax Deduct... Apr 01, 1996
Isaacson, Rosenbaum, Woods « Landowners preserve open space while earning tax deductions Spring 1996 by Lawrence R. Kueter Landowners in the West, particularly ranchers and farmers on the perimeter of rapidly growing cities and resorts, want to stay in business, preserve open space and, if possible, hand down to their children the acreage they own. Often farm and ranch land values have become so high that children inheriting them are unable to afford the estate taxes that become due at the death
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Jones Day - Publications - Permanent Estate Tax Repeal. Private Capital Planning AlertPermanent Estate Tax Repeal
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Permanent Estate Tax Repeal. U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Immigration Conference Call - May 22
TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS. AGENDA U.S. TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS
12/02 Riker Danzig Tax UPDATE
Prior to 2002, the New Jersey estate tax was exactly equal to the federal state death tax credit (i. e., a dollar-for-dollar reduction in federal estate tax payable equal to an amount of state death tax payable), reduced by the amount of New Jersey transfer inheritance tax paid
ESTATE AND GIFT TAX ALERT - June
Holme Roberts & Owen, LLP function Go(){ return } Site Search: News Letters ESTATE AND GIFT TAX ALERT Is The Estate Tax Really Repealed. Is The Gift Tax Repealed
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Featured Articles: State Tax Savings Window for Education Savings Plan Contributions Increased Estate Tax Exemption and Related Estate Planning Considerations The Privacy of Medical Information in the Context of your Estate Plan. We give our clients skilled and thoughtful advice and provide the highest quality legal representation in the areas of tax and estate planning, trust and estate administration, charitable organizations, trust and estate litigation, and family business planning
Tax e-bulletin Issue #6 (June 8
Tax e-Bulletin - Issue 6 Print this Page POYNER & SPRUILL TAX e-BULLETIN - ISSUE # 6 You have probably heard that the new tax law, which is called the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), was signed into law on June 7, 2001. This law makes changes in a number of areas but particularly in the estate tax, generation-skipping transfer tax and gift tax laws
Estate
First of all, due to certain "sunset" rules contained in the Congressional Budget Act of 1974, the taxes that are eliminated as of January 1, 2010, are reinstated beginning after December 31, 2010, as if the Act had never been enacted. Finally, the retention of the gift tax causes other issues to surface with the transfer of wealth between generations which will make planning in future years different from today's planning
Maximize Your Community Investments
Tax Reform: Devil is in the Details
" No details were forthcoming from Secretary O'Neill although the tax package originally announced by President Bush included the repeal of the so-called "marriage penalty," an increase in the child tax credit and liberalization of the rules relating to charitable deductions. In approving H.R. 3, the House Ways and Means Committee rejected, by a 12-26 vote, a Democratic alternative that would have provided for a reduction in the current 15 percent tax rate, partial relief from the "marriage
: July 2002
Moreover, the proceeds can be sheltered from federal estate tax by placing the policies in an irrevocable life insurance trust ("ILIT"). In addition, the proceeds will generally also be exempt from income tax
Akerman Senterfitt: A Transactional Approach to Estate and Tax Planning
Receive Periodic Payments From Trust at Discounted Value Reducing Estate Tax and/or Income Tax Transfer Assets to Entity or Entity Structure Controlled by Client. The Capital Transactions Group takes a transactional approach to tax planning to integrate income tax savings with estate and gift tax planning
Akerman Senterfitt: Checklist of Sample Tax Situations
PROBLEM Client with a cash buyer of stock or real estate facing a large capital gains tax due to substantial asset appreciation. SOLUTION Creation of partnership entity structure and family trust together with a sale of a portion of the entity structure to the trust in return for a deferred obligation and/or a transfer of a portion of the entity structure to a specially designed charitable trust, allowing for a tax free sale of the asset
Ballard Spahr: Manufacturing Facilities May Qualify for Substantial Re...
Ballard Spahr Andrews & Ingersoll, LLP | Press Room | Newsletters | SEARCH NEWSLETTERS: NEWSLETTERREQUEST FORM Bankruptcy, Reorganization and Capital Recovery Business ce Employee Benefits Energy and Project Finance Environmental Estate Planning and Administration Family Wealth Management Franchise and Distribution Government Enforcement/White Collar Crime Health Care Intellectual Property Investment Management Labor and Employment Land Use Litigation Product Liability and Mass Tort Public
Ballard Spahr: Federal Estate Tax Reform and Its Impact Upon Estate Pl...
Ballard Spahr Andrews & Ingersoll, LLP | Press Room | Newsletters | SEARCH NEWSLETTERS: NEWSLETTERREQUEST FORM Bankruptcy, Reorganization and Capital Recovery Business ce Employee Benefits Energy and Project Finance Environmental Estate Planning and Administration Family Wealth Management Franchise and Distribution Government Enforcement/White Collar Crime Health Care Intellectual Property Investment Management Labor and Employment Land Use Litigation Product Liability and Mass Tort Public
Ballard Spahr: City of Philadelphia Rolls Out 10-Year Real Estate Tax ...
Ballard Spahr Andrews & Ingersoll, LLP | Press Room | Newsletters | SEARCH NEWSLETTERS: NEWSLETTERREQUEST FORM Bankruptcy, Reorganization and Capital Recovery Business ce Employee Benefits Energy and Project Finance Environmental Estate Planning and Administration Family Wealth Management Franchise and Distribution Government Enforcement/White Collar Crime Health Care Intellectual Property Investment Management Labor and Employment Land Use Litigation Product Liability and Mass Tort Public
Ballard Spahr: City of Philadelphia Authorizes Delayed Payment of 2003...
Ballard Spahr Andrews & Ingersoll, LLP | Press Room | Newsletters | SEARCH NEWSLETTERS: NEWSLETTERREQUEST FORM Bankruptcy, Reorganization and Capital Recovery Business ce Employee Benefits Energy and Project Finance Environmental Estate Planning and Administration Family Wealth Management Franchise and Distribution Government Enforcement/White Collar Crime Health Care Intellectual Property Investment Management Labor and Employment Land Use Litigation Product Liability and Mass Tort Public
Ballard Spahr: Lower Real Estate Values Prompt Assessment Appeals
Although the value of many properties has decreased due to market conditions, the same cannot necessarily be said for real estate tax assessments. To find out more about appealing a real estate tax assessment, please contact Phil Korb or Matt McClure of Ballard Spahr's Real Estate Valuation Group
Briggs & Morgan: Minnesota Estate Tax Update
If you are married, you will most likely want to review your estate planning documents. Until 2002, the Minnesota estate tax exemption equaled the federal estate tax exemption
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress Releases 02 Jul 2001The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning On June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Tax Act"). To help our clients and
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
...write('') } Resource Center Publications Description Summary of Changes in U.S. Estate and Gift Tax and Generation Skipping Transfer Tax Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001 on May 26, 2001, and the President signed it into law on June 7, 2001. This summary describes how the provisions of this new law may affect present and future estate planning for individuals
Goodwin Procter: Technical Changes to New Massachusetts Estate Tax Law P...
Technical Changes to New Massachusetts Estate Tax Law Provide Planning Opportunities. com/publication s/CA_EP_NewMassTaxLaws_11_02
Goodwin Procter: New Massachusetts Tax Law May Affect Estate Plans and P...
New Massachusetts Tax Law May Affect Estate Plans and Personal Income Tax Liability. In July of this year, the Massachusetts legislature enacted a new tax law known as "An Act Enhancing State Revenues" (the "Act")
Greenberg Traurig: Coordinating Income Tax Planning with Estate Planning i...
36TH ANNUAL PHILLIP E. HECKERLING INSTITUTE ON ESTATE PLANNING CHAPTER 10 Coordinating Income Tax Planning with Estate Planning: Uses of Installment Sales, Private Annuities and Self-Canceling Installment Notes. Greenberg Traurig, P.A., Miami, Florida; Adjunct Professor of Law, University of Miami School of Law, Graduate Programs in Estate Planning and Taxation, Coral Gables, Florida
Hinshaw & Culbertson: The New Estate Tax Law/The Long Goodbye
Hinshaw & Culbertson: Estate and Gift Taxes Increases in Applicable Credit Am...
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
Masuda Funai: MFEM Strengthens its Trusts & Estates Practice Group
Nutter McClennen & Fish: Massachusetts Estate Tax Law
These changes may be best understood in light of what the state estate tax rules used to be. For a number of years, Massachusetts was a "sponge tax" jurisdiction, meaning that the amount of estate tax payable to the commonwealth was calculated with reference to the credit that was allowed against the federal tax for the payment of a state death tax
Palmer & Dodge: New Massachusetts Estate Tax Law
Parsons Behle & Latimer: Retirement and the Estate Tax
Large federal income taxes will eventually be due on these sums, but the ability to defer income taxation may have significant value. Coordinating the income tax considerations with federal estate and gift tax consequences is the subject of this paper
Parsons Behle & Latimer: Techniques For Dealing With More Sophisticated Estate T...
Perkins Coie: Estate Planning: Washington State Estate Tax Problems
Riker Danzig: 10/95 Real Estate Tax Exemptions for Hospitals
In order to claim that a building or land is exempt, it must be put to "hospital use" on or before October 1 of the pretax year. An initial exemption statement must be filed with the local assessor of the taxing district in which the building or land is located on or before November 1 of the pretax year
Riker Danzig: 7/91 Estate Tax Considerations of Second-to-Die Polic...
Riker Danzig Article (157) 7/91 Estate Tax Considerations of Second-to-Die Policies Sandra Brown Sherman, Esq. This type of coverage is often recommended in the situation where the life insurance proceeds are intended to provide liquidity to pay estate taxes at the death of the surviving spouse
Riker Danzig: 6/01 Estate Tax Suspended in the Largest Tax Cut In T...
Riker Danzig Article (438) 6/01 Estate Tax Suspended in the Largest Tax Cut In Twenty Years From Riker Danzig Tax UPDATE, June 2001. On June 7, 2001, President George W. Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the “Act”)
Riker Danzig: 1/00 Building Charitable Trusts Into A Client's Es...
Riker Danzig Article (249) 1/00 Building Charitable Trusts Into A Client's Estate, Tax And Family Planning Written by Sandra Brown Sherman, Esq. edu) Introduction Charitable giving has become a significant consideration in the tax and estate planning of individuals due to the substantial federal income and estate tax savings which charitable transfers can generate
Riker Danzig: 3/98 Significant New York Tax Legislation Replaces Cu...
Riker Danzig Article (242) 3/98 Significant New York Tax Legislation Replaces Current Estate Tax With a "Pick Up" Tax and Repeals Gift Tax in Its Entirety From Riker Danzig Tax UPDATE, March 1998 The State of New York imposes an estate tax upon the transfer of the New York taxable estate of every deceased individual who was a resident of New York at the time of his or her death. The tax is also imposed upon the estates of nonresidents, but only real and tangible personal property located within
Riker Danzig: 6/01 Planning Considerations ? What Should You Do?
From Riker Danzig Tax UPDATE, June 2001. v Clients should update their estate plans during the transition period with a view to how and when the new laws affect their plans
Riker Danzig: 2/95 Simultaneous Gifts of Closely-Held Stock Not Agg...
Riker Danzig Article (187) 2/95 Simultaneous Gifts of Closely-Held Stock Not Aggregated for Valuation Purposes From Riker Danzig Tax UPDATE, February 1995 In a recent Technical Advice Memorandum ("TAM"), the IRS concluded that when gifts of closely-held stock are made simultaneously to multiple donees, the value of each gift will be determined without regard to the donor's aggregate stock ownership prior to the gift. This valuation approach differs from the estate tax context, in which the
Riker Danzig: 3/00 Gift Tax Reminder
The gift tax return (Form 709) is a calendar year return normally due on April 15th. If, for example, one of you gave a $20,000 gift in 1999 to a particular person, you and your spouse should file a gift tax return so that one-half of that gift can be attributed to each of you (and so that each of your $10,000 annual exclusions can apply to the gift)
Riker Danzig: 2/95 Pension and IRA Benefits May Be Best Source of C...
Riker Danzig Article (188) 2/95 Pension and IRA Benefits May Be Best Source of Charitable Gifts From Riker Danzig Tax UPDATE, February 1995 Amounts contributed on a pre-tax basis to "qualified plans" such as a pension, profit-sharing, 401(k) plan, Keogh plan, or an IRA (including a rollover IRA), and the earnings attributable to those amounts, will be subject to income tax when withdrawn by the plan participant or by his or her beneficiaries. To the extent any balance in such a plan is payable
Riker Danzig: 3/98 The New York Spousal Trust Rules
Riker Danzig Article (246) 3/98 The New York Spousal Trust Rules From Riker Danzig Tax UPDATE, March 1998 Under New York law, a surviving spouse has the right to receive one-third of a deceased spouse's estate (the "elective share"), even if the provisions of the decedent's will provide otherwise. Under prior law, a decedent could satisfy his or her spouse's right of election by placing one-third of his or her estate in a trust which paid income to the surviving spouse during his or her lifetime
Riker Danzig: 3/98 Gifts of Limited Partnership Interests Ruled Ine...
Riker Danzig Article (243) 3/98 Gifts of Limited Partnership Interests Ruled Ineligible for Gift Tax Annual Exclusion From Riker Danzig Tax UPDATE, March 1998 In Technical Advice Memorandum 9751003, the IRS determined that gifts of limited partnership interests transferred to the donor's family members over a period of three years failed to qualify for the annual $10,000 gift tax exclusion provided in Section 2503(b) of the Code. The IRS ruled that none of the gifted interests qualified for the
Saul Ewing: Estate Tax Relief Legislation
Members introducing the legislation have been led to believe by top White House officials that President Clinton would sign the compromise estate tax relief bill that they have introduced. e. Death Tax Relief Now Act of 2000) are as follows: 1) Double the applicable credit amount against estate and gift tax from the current amount of $675,000 to $1,300,000 and then gradually increase the credit to $2,000,000 for an individual or $4,000,000 per married couple by 2009; 2) Index the unified credit
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Ulmer & Berne: Estate Tax Repeal
In addition, beginning January 1, 2010, the Act repeals the estate and generation-skipping transfer taxes (but not the gift tax) in full. Due to the "sunset" provision, the transfer taxes that are eliminated as of January 1, 2010 are reinstated for years beginning after December 31, 2010 as if the Act had never been enacted
Ulmer & Berne: Ohio Estate Tax Reduced
This past summer, however, Ohio put into law some actual estate tax reduction. The basic Ohio estate tax is levied on the value of an Ohio resident's taxable estate, which generally is the value of all property in which the decedent had an interest at the date of death, minus certain exclusions and deductions
Ulmer & Berne: Retirement Savings
The Act repeals the 15% excise tax previously imposed on annual distributions from retirement plans in excess of $160,000 and the 15% estate tax on excess accumulations in such plans at the time of death. For additional detail on this relief, see page 10
Ulmer & Berne: Family Business Interests
Effective for deaths occurring after December 31, 1997, an estate is eligible to exclude from taxation a portion of certain "qualified family-owned business interests" passing to "qualified heirs". 3 million of qualified family-owned business interests to pass to qualified heirs free of estate tax
Ulmer & Berne: Estate and Gift Taxes
Beginning on January 1, 1998, the unified estate and gift tax credit exemption amount is increased from the current $600,000 to $1 million, as follows: $625,000 for decedents dying (and gifts made) in 1998; $650,000 in 1999; $675,000 in 2000 and 2001; $700,000 in 2002 and 2003; $850,000 in 2004; $950,000 in 2005; $1,000,000 in 2006 and thereafter. Beginning in 1999, the following wealth transfer provisions will be indexed annually for inflation: the $10,000 annual exclusion for gifts, the $1
Ulmer & Berne: Attorney Profile
As a Partner in the Business/Tax Department and Chair of the Real Estate Practice Group, he has earned the reputation as one of the top real estate lawyers in the Cleveland area. An indication of Bill's diverse real estate practice is exemplified by his handling of the following transactions since the date of our last Real Estate Law Letter: served as partnership counsel in a $3
Ulmer & Berne: Firm News
Bill Gagliano, Chair of Ulmer 's Real Estate Law Group, has been named Vice-Chair of the Human Resources Committee of the National Board of Governors of the American Red Cross. His topic was "Fair Housing Sexual Harassment and HUD's Proposed Regulations: Safe Harbor or Increased Exposure?" On July 20, 2001, Andy Giannella spoke at the Ohio State Bar Association Seminar on Real Estate Finance
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Jones Day - Publications - Permanent Estate Tax Repeal. Private Capital Planning AlertPermanent Estate Tax Repeal
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Permanent Estate Tax Repeal. U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Tax Reform: Devil is in the Details
" No details were forthcoming from Secretary O'Neill although the tax package originally announced by President Bush included the repeal of the so-called "marriage penalty," an increase in the child tax credit and liberalization of the rules relating to charitable deductions. In approving H.R. 3, the House Ways and Means Committee rejected, by a 12-26 vote, a Democratic alternative that would have provided for a reduction in the current 15 percent tax rate, partial relief from the "marriage
Congress Passes Broad Estate
On May 26, 2001, Congress passed sweeping tax legislation that modifies the estate, gift and generation-skipping tax regimes. The measures first reduce and then ultimately repeal the estate and generation-skipping taxes, while leaving the gift tax system in force
I'll Be Dead By Then
Timothy C. Burkart Actually, a lot of people may care if you fail to properly plan your estate. Estate planning is what responsible people do for themselves and their families
"Co-op Transfers by Estates
Co-op Transfers by Estates, Trusts and Other Entities. NY ATTORNEY who has dealt with transfers of co-op apartments by estates, trusts or other entities has encountered the last-minute scrambling that regularly occurs in order to satisfy the co-op's transfer agent or the purchaser's counsel that the seller has the right and authority to convey good title to the co-op shares and proprietary lease
Wealth Management & Estate Planning Bulletin
RECENT CHANGES TO TAX LAW COULD AFFECT YOUR ESTATE PLAN To Our Clients and Friends. The new Act affects many different provisions of the Internal Revenue Code, including the estate, gift, and generation-skipping transfer (GST) tax provisions
"Security Interests Protect Creditors
Bradley E. Lundgren is a business/tax attorney with Hatch t, a Santa Barbara law corporation. This is one of a series of business, real estate and tax advisories prepared by Hatch t's Business Law Group
ESOPtions Volume 3
The Employee Stock Ownership Plan Journey: A Business Owner's Solution Under New Tax Law. Introduction The new tax legislation that President Bush signed into law on June 7, 2001, enhances the tax benefits that the company and employees receive with respect to retirement plans and reduces the estate and gift tax burden on business owners of closely held corporations
: Estate
The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Act") was signed into law on June 7, 2001. This memorandum discusses the gift, estate and generation-skipping transfer tax provisions of the 2001 Act, their rationale, their future and their planning implications
: Estate
Ballard Spahr: Congress Increases Tax Appeal of Domestic Mutual Funds ...
Income Tax BenefitsUnder the tax law in effect prior to the Congressional action, mutual funds paying dividends to foreign shareholders have only a limited ability to pass through the character of the income from which the dividends are paid. This limitation has been significant because dividends paid to foreign persons are generally subject to a flat 30% withholding tax
Blank Rome: Interior Renovations Not Grounds For Reassessment
The Pennsylvania Supreme Court has held that tax assessors cannot reassess a property merely as a result of interior alterations. Alerted by the building permit, the county tax assessor raised the assessment value to $176,000, an increase of 55
Chapman and Cutler: Why You Need an Estate Plan
Chapman and Cutler LLP provides comprehensive estate planning services for its clients. We can assist you in the estate planning process
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress Releases 02 Jul 2001The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning On June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Tax Act"). To help our clients and
Cooley Godward: SEC Settles Action Against GE
Covington & Burling: Jump-Starting Compliance With SEC Internal Control Rule...
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Fox Rothschild: Generation Skipping Transfer ("GST") Tax Exem...
TAX AND ESTATES DEPARTMENT. GENERATION SKIPPING TRANSFER ("GST") TAX EXEMPTION
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
...write('') } Resource Center Publications Description Summary of Changes in U.S. Estate and Gift Tax and Generation Skipping Transfer Tax Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001 on May 26, 2001, and the President signed it into law on June 7, 2001. This summary describes how the provisions of this new law may affect present and future estate planning for individuals
Goodwin Procter: Federal Tax Law Changes
As you probably know, President Bush has recently signed legislation which makes significant changes to the federal tax laws. The popular press is filled with reports of the demise of the despised "death tax." The increased exemption and lower estate and gift tax rates will undoubtedly provide significant savings for some taxpayers, but the phase-out of the estate tax, the interplay of the new gift and estate tax rules and the legislation's "sunset provision" mean that careful planning is
Goodwin Procter: New Tax Rules Could Trigger Unwanted Allocation of Gene...
New Tax Rules Could Trigger Unwanted Allocation of Generation-Skipping Transfer Tax Exemption. Certain provisions of The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Tax Act") could cause taxpayers to "waste" part of the important exemption from generationskipping transfer tax ("GST tax")
Gray Cary: Estate Planning Update:? Economic Growth and Tax Relief...
Economic Growth and Tax Relief Reconciliation Act by Ellen van Hoften Select - Communicationse-Alerts + Online NewsArticles of InterestMedia CenterSeminars + EventsJournal of Internet Law Memo-- ESTATE PLANNING UPDATE Economic Growth and Tax Relief Reconciliation Act October 2002 by Ellen van Hoften Now that the Economic Growth and Tax Relief Reconciliation Act of 2001 has become law, we want to bring to your attention some of its more significant provisions which may affect your estate
Gray Cary: IRS Attacks Transfer of Non-Qualified Stock Options
Since no income was recognized at the time of the exercise of the stock options, some of these family limited partnerships may not have simultaneously sold enough of the stock to raise sufficient cash to pay taxes in the event the IRS were to successfully challenge the tax treatment of the transaction. Those executives may face financial hardship in the event they now have to pay a tax based on the value of the stock at the time of the exercise of the options (if the value of the stock they
Honigman Miller: Tax Considerations in Trust Administration
I. Overview of Tax Considerations Involving Trusts Initial Questions. Each time that you begin the representation of a trustee of any kind of trust, you should determine the answers to the following questions: · What possible taxes are owing
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
McGuire Woods: AN INTRODUCTION TO ESTATE PLANNING
McGuireWoods LLP | Publications | Intro to Estate Planning return to McGuireWoods Tax Publications For more than a century our firm has helped clients write their wills and arrange their family financial affairs the process now called estate planning. Estate planning assures that your property passes to others precisely as you direct, and as efficiently as possible
Michael Best & Friedrich: Estate Planning Update
The Estate Planning Practice Area of Michael Best rich LLP welcomes Julie M. Maslowski. As an associate, her practice will focus on estate planning matters, including estate and gift taxation
Morris: Estate Planning before the Sale or IPO
7753 Basic Goals and Tax planning Maximize Unified Credit (currently $625,000) Shift appreciation. Utilize generation skipping Great techniques that don t work anymore Estate Freeze - IRC § 2701 (1990) now provides that only "qualified payments" (i
Nutter McClennen & Fish: Massachusetts Estate Tax Law
These changes may be best understood in light of what the state estate tax rules used to be. For a number of years, Massachusetts was a "sponge tax" jurisdiction, meaning that the amount of estate tax payable to the commonwealth was calculated with reference to the credit that was allowed against the federal tax for the payment of a state death tax
Nutter McClennen & Fish: The Economic Growth and Tax Relief Reconciliation Act o...
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Nutter McClennen & Fish: IRS Issues Temporary Regulations on Intermediate Sancti...
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Nutter McClennen & Fish: ERISA and Employee Benefit Update
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Perkins Coie: Estate Planning: Washington State Estate Tax Problems
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Vorys Sater: Early start key strategy to fund college education for ...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Wednesday, December 22, 2004 Early start key strategy to fund college education for children Robert G. Dykes is a partner in the Columbus office of Vorys Sater Seymour and Pease LLP and is the chairman of the Estate Planning, Trust and Probate Law Section of the Ohio State Bar Association. NOW. Assuming that educational expenses grow at 5 percent per year, investments grow at 10 percent per year (after tax, for simplicity) and
Vorys Sater: Early start key strategy to fund college education for ...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Wednesday, December 22, 2004 Early start key strategy to fund college education for children Robert G. Dykes is a partner in the Columbus office of Vorys Sater Seymour and Pease LLP and is the chairman of the Estate Planning, Trust and Probate Law Section of the Ohio State Bar Association. NOW. Assuming that educational expenses grow at 5 percent per year, investments grow at 10 percent per year (after tax, for simplicity) and
Weil: Death Tax Relief -- The Road Not Taken
35 trillion tax cut that was signed by President Bush on June 7th dedicates $133. 2 billion of revenue cuts to transfer tax reduction, but takes no substantial steps toward either the goal of reform or repeal
Weil: Some Changes But No Fixes to the Act on the Ownership o...
For example, the Czech Civil Code generally provides that when real estate is co-owned and one of the co-owners wishes to sell its interest in the real estate, then all of the co-owners have preemptive rights (i. With respect to the apportionment of real estate taxes, there are similar issues that should be resolved
Weil: Clinton's 1999 Budget Targets Estate Planning and ...
Replace Font Tag Personal Planning Bulletin Clinton's 1999 Budget Targets Estate Planning and Savings Tools Winter 1998 By Carlyn McCaffrey and Elyse G. Kirschner On February 2, President Clinton released a balanced budget proposal for fiscal year 1999. The balance depends in part on proposed tax increases that are projected to raise revenue of $23 billion over the next five years
White & Case: Asia-Pacific Tax Report (Summer 2001)
Williams Mullen: Family Limited Partnerships
The FLP is not a separate taxpaying entity. The FLP is, however, required to file an informational tax return (Form 1065) which provides the I.R.S. with the amount of income, expenses, contributions, and distributions of the FLP during the tax year
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Jones Day - Publications - Permanent Estate Tax Repeal. July 2002 U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Permanent Estate Tax Repeal. U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Immigration Conference Call - May 22
TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS. AGENDA U.S. TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS
Tax Reform: Devil is in the Details
" No details were forthcoming from Secretary O'Neill although the tax package originally announced by President Bush included the repeal of the so-called "marriage penalty," an increase in the child tax credit and liberalization of the rules relating to charitable deductions. In approving H.R. 3, the House Ways and Means Committee rejected, by a 12-26 vote, a Democratic alternative that would have provided for a reduction in the current 15 percent tax rate, partial relief from the "marriage
Congress Passes Broad Estate
On May 26, 2001, Congress passed sweeping tax legislation that modifies the estate, gift and generation-skipping tax regimes. The measures first reduce and then ultimately repeal the estate and generation-skipping taxes, while leaving the gift tax system in force
I'll Be Dead By Then
Timothy C. Burkart Actually, a lot of people may care if you fail to properly plan your estate. Estate planning is what responsible people do for themselves and their families
"Co-op Transfers by Estates
Co-op Transfers by Estates, Trusts and Other Entities. NY ATTORNEY who has dealt with transfers of co-op apartments by estates, trusts or other entities has encountered the last-minute scrambling that regularly occurs in order to satisfy the co-op's transfer agent or the purchaser's counsel that the seller has the right and authority to convey good title to the co-op shares and proprietary lease
Wealth Management & Estate Planning Bulletin
RECENT CHANGES TO TAX LAW COULD AFFECT YOUR ESTATE PLAN To Our Clients and Friends. The new Act affects many different provisions of the Internal Revenue Code, including the estate, gift, and generation-skipping transfer (GST) tax provisions
"Security Interests Protect Creditors
Bradley E. Lundgren is a business/tax attorney with Hatch t, a Santa Barbara law corporation. This is one of a series of business, real estate and tax advisories prepared by Hatch t's Business Law Group
ESOPtions Volume 3
The Employee Stock Ownership Plan Journey: A Business Owner's Solution Under New Tax Law. Introduction The new tax legislation that President Bush signed into law on June 7, 2001, enhances the tax benefits that the company and employees receive with respect to retirement plans and reduces the estate and gift tax burden on business owners of closely held corporations
: Estate
The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Act") was signed into law on June 7, 2001. This memorandum discusses the gift, estate and generation-skipping transfer tax provisions of the 2001 Act, their rationale, their future and their planning implications
: Estate
Ballard Spahr: Congress Increases Tax Appeal of Domestic Mutual Funds ...
Income Tax BenefitsUnder the tax law in effect prior to the Congressional action, mutual funds paying dividends to foreign shareholders have only a limited ability to pass through the character of the income from which the dividends are paid. This limitation has been significant because dividends paid to foreign persons are generally subject to a flat 30% withholding tax
Ballard Spahr: The New Tax Law
Beginning 2004, the personal income tax rate will increase from 2. Capital Stock/Franchise TaxRate Reduction Delayed
Chapman and Cutler: Why You Need an Estate Plan
Chapman and Cutler LLP provides comprehensive estate planning services for its clients. We can assist you in the estate planning process
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress Releases 02 Jul 2001The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning On June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Tax Act"). To help our clients and
Cooley Godward: SEC Settles Action Against GE
Covington & Burling: Jump-Starting Compliance With SEC Internal Control Rule...
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Subsidiary products: Tax Management« BNA Software BNA International Pike er Corporate Law ess ProductsClick on a product title for FREE trial subscriptions information. Antitrust Regulation Daily Export Reference Guide Antitrust Regulation Report Federal Contracts Daily Banking Daily Federal Contracts Report Banking Report Homeland Security Briefing« Bankruptcy Law Daily International Business ce Daily Bankruptcy Law Reporter International Tax
Curtis Mallet-Prevost: Client and Colleague Alert: Change in U.S. Patent and T...
Curtis Mallet-Prevost: Alert: Timeline for SEC's Proposals and Comments (...
Fox Rothschild: Generation Skipping Transfer ("GST") Tax Exem...
TAX AND ESTATES DEPARTMENT. GENERATION SKIPPING TRANSFER ("GST") TAX EXEMPTION
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
...write('') } Resource Center Publications Description Summary of Changes in U.S. Estate and Gift Tax and Generation Skipping Transfer Tax Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001 on May 26, 2001, and the President signed it into law on June 7, 2001. This summary describes how the provisions of this new law may affect present and future estate planning for individuals
Goodwin Procter: Federal Tax Law Changes
As you probably know, President Bush has recently signed legislation which makes significant changes to the federal tax laws. The popular press is filled with reports of the demise of the despised "death tax." The increased exemption and lower estate and gift tax rates will undoubtedly provide significant savings for some taxpayers, but the phase-out of the estate tax, the interplay of the new gift and estate tax rules and the legislation's "sunset provision" mean that careful planning is
Goodwin Procter: New Tax Rules Could Trigger Unwanted Allocation of Gene...
New Tax Rules Could Trigger Unwanted Allocation of Generation-Skipping Transfer Tax Exemption. Certain provisions of The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Tax Act") could cause taxpayers to "waste" part of the important exemption from generationskipping transfer tax ("GST tax")
Gray Cary: Estate Planning Update:? Economic Growth and Tax Relief...
Honigman Miller: Tax Considerations in Trust Administration
I. Overview of Tax Considerations Involving Trusts Initial Questions. Each time that you begin the representation of a trustee of any kind of trust, you should determine the answers to the following questions: · What possible taxes are owing
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
Michael Best & Friedrich: Estate Planning Update
Morris: Estate Planning before the Sale or IPO
7753 Basic Goals and Tax planning Maximize Unified Credit (currently $625,000) Shift appreciation. Utilize generation skipping Great techniques that don t work anymore Estate Freeze - IRC § 2701 (1990) now provides that only "qualified payments" (i
Nutter McClennen & Fish: Massachusetts Estate Tax Law
These changes may be best understood in light of what the state estate tax rules used to be. For a number of years, Massachusetts was a "sponge tax" jurisdiction, meaning that the amount of estate tax payable to the commonwealth was calculated with reference to the credit that was allowed against the federal tax for the payment of a state death tax
Nutter McClennen & Fish: The Economic Growth and Tax Relief Reconciliation Act o...
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Nutter McClennen & Fish: IRS Issues Temporary Regulations on Intermediate Sancti...
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Nutter McClennen & Fish: ERISA and Employee Benefit Update
...xsp; Tax Advisories The Economic Growth and Tax Relief Reconciliation Act of 2001 On June 7, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001, the largest tax cut since 1981. 35 trillion tax cut and contains a wide variety of provisions primarily affecting individual taxpayers, the effective dates of which vary over the next 10 years
Perkins Coie: Estate Planning: Washington State Estate Tax Problems
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Weil: Death Tax Relief -- The Road Not Taken
35 trillion tax cut that was signed by President Bush on June 7th dedicates $133. 2 billion of revenue cuts to transfer tax reduction, but takes no substantial steps toward either the goal of reform or repeal
Weil: Some Changes But No Fixes to the Act on the Ownership o...
For example, the Czech Civil Code generally provides that when real estate is co-owned and one of the co-owners wishes to sell its interest in the real estate, then all of the co-owners have preemptive rights (i. With respect to the apportionment of real estate taxes, there are similar issues that should be resolved
Weil: Clinton's 1999 Budget Targets Estate Planning and ...
Replace Font Tag Personal Planning Bulletin Clinton's 1999 Budget Targets Estate Planning and Savings Tools Winter 1998 By Carlyn McCaffrey and Elyse G. Kirschner On February 2, President Clinton released a balanced budget proposal for fiscal year 1999. The balance depends in part on proposed tax increases that are projected to raise revenue of $23 billion over the next five years
White & Case: Asia-Pacific Tax Report (Summer 2001)
Williams Mullen: Family Limited Partnerships
The FLP is not a separate taxpaying entity. The FLP is, however, required to file an informational tax return (Form 1065) which provides the I.R.S. with the amount of income, expenses, contributions, and distributions of the FLP during the tax year
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Jones Day - Publications - Permanent Estate Tax Repeal. July 2002 U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
Permanent Estate Tax Repeal? Not Yet (If Ever). So
Permanent Estate Tax Repeal. U.S. Senate Fails to Pass Permanent Estate Tax Repeal Current law provides for the repeal of the federal estate tax only for persons dying in 2010
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Immigration Conference Call - May 22
TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS. AGENDA U.S. TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS
Tax Reform: Devil is in the Details
" No details were forthcoming from Secretary O'Neill although the tax package originally announced by President Bush included the repeal of the so-called "marriage penalty," an increase in the child tax credit and liberalization of the rules relating to charitable deductions. In approving H.R. 3, the House Ways and Means Committee rejected, by a 12-26 vote, a Democratic alternative that would have provided for a reduction in the current 15 percent tax rate, partial relief from the "marriage
I'll Be Dead By Then
Timothy C. Burkart Actually, a lot of people may care if you fail to properly plan your estate. Estate planning is what responsible people do for themselves and their families
Congress Passes Broad Estate
On May 26, 2001, Congress passed sweeping tax legislation that modifies the estate, gift and generation-skipping tax regimes. The measures first reduce and then ultimately repeal the estate and generation-skipping taxes, while leaving the gift tax system in force
"Co-op Transfers by Estates
Co-op Transfers by Estates, Trusts and Other Entities. NY ATTORNEY who has dealt with transfers of co-op apartments by estates, trusts or other entities has encountered the last-minute scrambling that regularly occurs in order to satisfy the co-op's transfer agent or the purchaser's counsel that the seller has the right and authority to convey good title to the co-op shares and proprietary lease
March 21
D.C. Real Estate Tax Assessment Appeals: Jackson & Campbell, P.C.'s deadline for retainer agreements to appeal real estate tax assessments is March 25, 2003 which will allow us to meet the deadline for filing "Level One" appeals which is April 1. e. who traditionally pays for premiums, recording taxes, recording requirements, etc
"Security Interests Protect Creditors
Bradley E. Lundgren is a business/tax attorney with Hatch t, a Santa Barbara law corporation. This is one of a series of business, real estate and tax advisories prepared by Hatch t's Business Law Group
ESOPtions Volume 3
The Employee Stock Ownership Plan Journey: A Business Owner's Solution Under New Tax Law. Introduction The new tax legislation that President Bush signed into law on June 7, 2001, enhances the tax benefits that the company and employees receive with respect to retirement plans and reduces the estate and gift tax burden on business owners of closely held corporations
: July 2002
Moreover, the proceeds can be sheltered from federal estate tax by placing the policies in an irrevocable life insurance trust ("ILIT"). In addition, the proceeds will generally also be exempt from income tax
: Estate
The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Act") was signed into law on June 7, 2001. This memorandum discusses the gift, estate and generation-skipping transfer tax provisions of the 2001 Act, their rationale, their future and their planning implications
: Estate
Akerman Senterfitt: A Transactional Approach to Estate and Tax Planning
Receive Periodic Payments From Trust at Discounted Value Reducing Estate Tax and/or Income Tax Transfer Assets to Entity or Entity Structure Controlled by Client. The Capital Transactions Group takes a transactional approach to tax planning to integrate income tax savings with estate and gift tax planning
Akerman Senterfitt: Checklist of Sample Tax Situations
PROBLEM Client with a cash buyer of stock or real estate facing a large capital gains tax due to substantial asset appreciation. SOLUTION Creation of partnership entity structure and family trust together with a sale of a portion of the entity structure to the trust in return for a deferred obligation and/or a transfer of a portion of the entity structure to a specially designed charitable trust, allowing for a tax free sale of the asset
Ballard Spahr: Congress Increases Tax Appeal of Domestic Mutual Funds ...
Income Tax BenefitsUnder the tax law in effect prior to the Congressional action, mutual funds paying dividends to foreign shareholders have only a limited ability to pass through the character of the income from which the dividends are paid. This limitation has been significant because dividends paid to foreign persons are generally subject to a flat 30% withholding tax
Ballard Spahr: The New Tax Law
Beginning 2004, the personal income tax rate will increase from 2. Capital Stock/Franchise TaxRate Reduction Delayed
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress Releases 02 Jul 2001The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning On June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Tax Act"). To help our clients and
Cooley Godward: SEC Settles Action Against GE
Covington & Burling: Jump-Starting Compliance With SEC Internal Control Rule...
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Subsidiary products: Tax Management« BNA Software BNA International Pike er Corporate Law ess ProductsClick on a product title for FREE trial subscriptions information. Antitrust Regulation Daily Export Reference Guide Antitrust Regulation Report Federal Contracts Daily Banking Daily Federal Contracts Report Banking Report Homeland Security Briefing« Bankruptcy Law Daily International Business ce Daily Bankruptcy Law Reporter International Tax
Curtis Mallet-Prevost: Client and Colleague Alert: Change in U.S. Patent and T...
Curtis Mallet-Prevost: Alert: Timeline for SEC's Proposals and Comments (...
Fox Rothschild: Generation Skipping Transfer ("GST") Tax Exem...
TAX AND ESTATES DEPARTMENT. GENERATION SKIPPING TRANSFER ("GST") TAX EXEMPTION
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
...write('') } Resource Center Publications Description Summary of Changes in U.S. Estate and Gift Tax and Generation Skipping Transfer Tax Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001 on May 26, 2001, and the President signed it into law on June 7, 2001. This summary describes how the provisions of this new law may affect present and future estate planning for individuals
Goodwin Procter: Federal Tax Law Changes
As you probably know, President Bush has recently signed legislation which makes significant changes to the federal tax laws. The popular press is filled with reports of the demise of the despised "death tax." The increased exemption and lower estate and gift tax rates will undoubtedly provide significant savings for some taxpayers, but the phase-out of the estate tax, the interplay of the new gift and estate tax rules and the legislation's "sunset provision" mean that careful planning is
Goodwin Procter: New Tax Rules Could Trigger Unwanted Allocation of Gene...
New Tax Rules Could Trigger Unwanted Allocation of Generation-Skipping Transfer Tax Exemption. Certain provisions of The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Tax Act") could cause taxpayers to "waste" part of the important exemption from generationskipping transfer tax ("GST tax")
Goodwin Procter: Pharmaceutical Law & Industry Report
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Subsidiary products: Tax Management« BNA Software BNA International Pike er Corporate Law ess ProductsClick on a product title for FREE trial subscriptions information. Antitrust Regulation Daily Export Reference Guide Antitrust Regulation Report Federal Contracts Daily Banking Daily Federal Contracts Report Banking Report Homeland Security Briefing« Bankruptcy Law Daily International Business ce Daily Bankruptcy Law Reporter International Tax
Gray Cary: Estate Planning Update:? Economic Growth and Tax Relief...
Gray Cary: IRS Attacks Transfer of Non-Qualified Stock Options
Honigman Miller: Tax Considerations in Trust Administration
I. Overview of Tax Considerations Involving Trusts Initial Questions. Each time that you begin the representation of a trustee of any kind of trust, you should determine the answers to the following questions: · What possible taxes are owing
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
McDermott: "Medicare drug act: How it could ease payroll tax ...
Medicare drug act: How it could ease payroll tax pain. You don't have to be clairvoyant to realize payrolltaxesaregoingtoexplodeincomingyears, as if they have not risen fast enough over the last 20 years
Michael Best & Friedrich: Estate Planning Update
Morris: Estate Planning before the Sale or IPO
7753 Basic Goals and Tax planning Maximize Unified Credit (currently $625,000) Shift appreciation. Utilize generation skipping Great techniques that don t work anymore Estate Freeze - IRC § 2701 (1990) now provides that only "qualified payments" (i
Perkins Coie: Estate Planning: Washington State Estate Tax Problems
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Weil: Death Tax Relief -- The Road Not Taken
35 trillion tax cut that was signed by President Bush on June 7th dedicates $133. 2 billion of revenue cuts to transfer tax reduction, but takes no substantial steps toward either the goal of reform or repeal
Weil: Some Changes But No Fixes to the Act on the Ownership o...
For example, the Czech Civil Code generally provides that when real estate is co-owned and one of the co-owners wishes to sell its interest in the real estate, then all of the co-owners have preemptive rights (i. With respect to the apportionment of real estate taxes, there are similar issues that should be resolved
White & Case: Asia-Pacific Tax Report (Summer 2001)
Williams Mullen: Family Limited Partnerships
The FLP is not a separate taxpaying entity. The FLP is, however, required to file an informational tax return (Form 1065) which provides the I.R.S. with the amount of income, expenses, contributions, and distributions of the FLP during the tax year
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Income Tax Changes
The new law also phases in substantial changes to the federal estate, gift and generation-skipping transfer taxes, that ultimately result in repeal of the estate and generation-skipping transfer taxes in 2010. Individuals with potentially taxable estates and charities that depend on tax incentives to help drive fundraising have taken a keen interest in what these changes may mean for them
Immigration Conference Call - May 22
TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS. AGENDA U.S. TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS
Tax Reform: Devil is in the Details
" No details were forthcoming from Secretary O'Neill although the tax package originally announced by President Bush included the repeal of the so-called "marriage penalty," an increase in the child tax credit and liberalization of the rules relating to charitable deductions. In approving H.R. 3, the House Ways and Means Committee rejected, by a 12-26 vote, a Democratic alternative that would have provided for a reduction in the current 15 percent tax rate, partial relief from the "marriage
Congress Passes Broad Estate
On May 26, 2001, Congress passed sweeping tax legislation that modifies the estate, gift and generation-skipping tax regimes. The measures first reduce and then ultimately repeal the estate and generation-skipping taxes, while leaving the gift tax system in force
I'll Be Dead By Then
Timothy C. Burkart Actually, a lot of people may care if you fail to properly plan your estate. Estate planning is what responsible people do for themselves and their families
CLIENT UPDATE
THE FUTURE OF ESTATE TAXATION In 2001, Congress implemented a 10-year plan that would result in the phase-out and then reinstatement of the federal estate tax. Under this plan, the federal estate tax rates and/or exemption amounts are scheduled to change nearly every year through 2009
CLIENT UPDATE
We welcome this opportunity to share our insights into a number of major tax law and estate planning developments. THE FUTURE OF ESTATE TAXATION As we write this letter, the future of estate taxation remains as unclear as it ever has been in our collective memory
"Co-op Transfers by Estates
Co-op Transfers by Estates, Trusts and Other Entities. NY ATTORNEY who has dealt with transfers of co-op apartments by estates, trusts or other entities has encountered the last-minute scrambling that regularly occurs in order to satisfy the co-op's transfer agent or the purchaser's counsel that the seller has the right and authority to convey good title to the co-op shares and proprietary lease
March 21
D.C. Real Estate Tax Assessment Appeals: Jackson & Campbell, P.C.'s deadline for retainer agreements to appeal real estate tax assessments is March 25, 2003 which will allow us to meet the deadline for filing "Level One" appeals which is April 1. e. who traditionally pays for premiums, recording taxes, recording requirements, etc
"Security Interests Protect Creditors
Bradley E. Lundgren is a business/tax attorney with Hatch t, a Santa Barbara law corporation. This is one of a series of business, real estate and tax advisories prepared by Hatch t's Business Law Group
ESOPtions Volume 3
The Employee Stock Ownership Plan Journey: A Business Owner's Solution Under New Tax Law. Introduction The new tax legislation that President Bush signed into law on June 7, 2001, enhances the tax benefits that the company and employees receive with respect to retirement plans and reduces the estate and gift tax burden on business owners of closely held corporations
: July 2002
Moreover, the proceeds can be sheltered from federal estate tax by placing the policies in an irrevocable life insurance trust ("ILIT"). In addition, the proceeds will generally also be exempt from income tax
: Estate
The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Act") was signed into law on June 7, 2001. This memorandum discusses the gift, estate and generation-skipping transfer tax provisions of the 2001 Act, their rationale, their future and their planning implications
: Estate
Akerman Senterfitt: A Transactional Approach to Estate and Tax Planning
Receive Periodic Payments From Trust at Discounted Value Reducing Estate Tax and/or Income Tax Transfer Assets to Entity or Entity Structure Controlled by Client. The Capital Transactions Group takes a transactional approach to tax planning to integrate income tax savings with estate and gift tax planning
Akerman Senterfitt: Checklist of Sample Tax Situations
PROBLEM Client with a cash buyer of stock or real estate facing a large capital gains tax due to substantial asset appreciation. SOLUTION Creation of partnership entity structure and family trust together with a sale of a portion of the entity structure to the trust in return for a deferred obligation and/or a transfer of a portion of the entity structure to a specially designed charitable trust, allowing for a tax free sale of the asset
Ballard Spahr: Congress Increases Tax Appeal of Domestic Mutual Funds ...
Income Tax BenefitsUnder the tax law in effect prior to the Congressional action, mutual funds paying dividends to foreign shareholders have only a limited ability to pass through the character of the income from which the dividends are paid. This limitation has been significant because dividends paid to foreign persons are generally subject to a flat 30% withholding tax
Ballard Spahr: The New Tax Law
Beginning 2004, the personal income tax rate will increase from 2. Capital Stock/Franchise TaxRate Reduction Delayed
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress Releases 02 Jul 2001The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning On June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Tax Act"). To help our clients and
Cooley Godward: SEC Settles Action Against GE
Covington & Burling: Jump-Starting Compliance With SEC Internal Control Rule...
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Subsidiary products: Tax Management« BNA Software BNA International Pike er Corporate Law ess ProductsClick on a product title for FREE trial subscriptions information. Antitrust Regulation Daily Export Reference Guide Antitrust Regulation Report Federal Contracts Daily Banking Daily Federal Contracts Report Banking Report Homeland Security Briefing« Bankruptcy Law Daily International Business ce Daily Bankruptcy Law Reporter International Tax
Curtis Mallet-Prevost: Client and Colleague Alert: Change in U.S. Patent and T...
Curtis Mallet-Prevost: Alert: Timeline for SEC's Proposals and Comments (...
Fox Rothschild: Generation Skipping Transfer ("GST") Tax Exem...
TAX AND ESTATES DEPARTMENT. GENERATION SKIPPING TRANSFER ("GST") TAX EXEMPTION
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
...write('') } Resource Center Publications Description Summary of Changes in U.S. Estate and Gift Tax and Generation Skipping Transfer Tax Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001 on May 26, 2001, and the President signed it into law on June 7, 2001. This summary describes how the provisions of this new law may affect present and future estate planning for individuals
Goodwin Procter: Federal Tax Law Changes
As you probably know, President Bush has recently signed legislation which makes significant changes to the federal tax laws. The popular press is filled with reports of the demise of the despised "death tax." The increased exemption and lower estate and gift tax rates will undoubtedly provide significant savings for some taxpayers, but the phase-out of the estate tax, the interplay of the new gift and estate tax rules and the legislation's "sunset provision" mean that careful planning is
Goodwin Procter: New Tax Rules Could Trigger Unwanted Allocation of Gene...
New Tax Rules Could Trigger Unwanted Allocation of Generation-Skipping Transfer Tax Exemption. Certain provisions of The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "2001 Tax Act") could cause taxpayers to "waste" part of the important exemption from generationskipping transfer tax ("GST tax")
Goodwin Procter: Pharmaceutical Law & Industry Report
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Subsidiary products: Tax Management« BNA Software BNA International Pike er Corporate Law ess ProductsClick on a product title for FREE trial subscriptions information. Antitrust Regulation Daily Export Reference Guide Antitrust Regulation Report Federal Contracts Daily Banking Daily Federal Contracts Report Banking Report Homeland Security Briefing« Bankruptcy Law Daily International Business ce Daily Bankruptcy Law Reporter International Tax
Gray Cary: Estate Planning Update:? Economic Growth and Tax Relief...
Honigman Miller: Tax Considerations in Trust Administration
I. Overview of Tax Considerations Involving Trusts Initial Questions. Each time that you begin the representation of a trustee of any kind of trust, you should determine the answers to the following questions: · What possible taxes are owing
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
Michael Best & Friedrich: Estate Planning Update
Morris: Estate Planning before the Sale or IPO
7753 Basic Goals and Tax planning Maximize Unified Credit (currently $625,000) Shift appreciation. Utilize generation skipping Great techniques that don t work anymore Estate Freeze - IRC § 2701 (1990) now provides that only "qualified payments" (i
Perkins Coie: Estate Planning: Washington State Estate Tax Problems
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Snell & Wilmer: Family Business Succession: Creating Your Own Story
She also consulted with the family's strategies with their family- also facilitate the application of estate tax cred- accountant to be sure that the new entity would held visions to better insure its and provide some level of creditor protection. be properly reported to the tax authorities
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Williams Mullen: Family Limited Partnerships
The FLP is not a separate taxpaying entity. The FLP is, however, required to file an informational tax return (Form 1065) which provides the I.R.S. with the amount of income, expenses, contributions, and distributions of the FLP during the tax year
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
State Estate Tax Law Changes Provide New Challenges
Most state governments historically have assessed a death tax that is tied to the federal estate tax system. These state death taxes are assessed in such a way that most states face either a full or partial loss of revenues as the federal estate tax goes through its modification
Income Tax Changes
Income Tax Changes
Income Tax Changes
Immigration Conference Call - May 22
TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS. AGENDA U.S. TAX AND ESTATE PLANNING FOR FOREIGN NATIONALS
I'll Be Dead By Then
Actually, a lot of people may care if you fail to properly plan your estate. Estate planning is what responsible people do for themselves and their families
Congress Passes Broad Estate
On May 26, 2001, Congress passed sweeping tax legislation that modifies the estate, gift and generation-skipping tax regimes. The measures first reduce and then ultimately repeal the estate and generation-skipping taxes, while leaving the gift tax system in force
CLIENT UPDATE
THE FUTURE OF ESTATE TAXATION While it is difficult to predict the priorities of the new Congress in the wake of the 2006 elections, it is important to note that a major estate tax reform bill failed in the Senate during 2006 by only a handful of votes. That bill called for the federal estate tax exemption for each individual to gradually increase from $2,000,000 to $5,000,000, and for the top rate for the estate tax to decline from 46% to 15% (with a higher rate for estates in excess of $25
CLIENT UPDATE
We welcome this opportunity to share our insights into a number of major tax law and estate planning developments. THE FUTURE OF ESTATE TAXATION As we write this letter, the future of estate taxation remains as unclear as it ever has been in our collective memory
"Co-op Transfers by Estates
Co-op Transfers by Estates, Trusts and Other Entities. NY ATTORNEY who has dealt with transfers of co-op apartments by estates, trusts or other entities has encountered the last-minute scrambling that regularly occurs in order to satisfy the co-op's transfer agent or the purchaser's counsel that the seller has the right and authority to convey good title to the co-op shares and proprietary lease
"Security Interests Protect Creditors
Bradley E. Lundgren is a business/tax attorney with Hatch t, a Santa Barbara law corporation. This is one of a series of business, real estate and tax advisories prepared by Hatch t's Business Law Group
: Estate
: Estate
Akerman Senterfitt: A Transactional Approach to Estate and Tax Planning
Receive Periodic Payments From Trust at Discounted Value Reducing Estate Tax and/or Income Tax Transfer Assets to Entity or Entity Structure Controlled by Client. The Capital Transactions Group takes a transactional approach to tax planning to integrate income tax savings with estate and gift tax planning
Akerman Senterfitt: Checklist of Sample Tax Situations
PROBLEM Client with a cash buyer of stock or real estate facing a large capital gains tax due to substantial asset appreciation. SOLUTION Creation of partnership entity structure and family trust together with a sale of a portion of the entity structure to the trust in return for a deferred obligation and/or a transfer of a portion of the entity structure to a specially designed charitable trust, allowing for a tax free sale of the asset
Ballard Spahr: Congress Increases Tax Appeal of Domestic Mutual Funds ...
Income Tax BenefitsUnder the tax law in effect prior to the Congressional action, mutual funds paying dividends to foreign shareholders have only a limited ability to pass through the character of the income from which the dividends are paid. This limitation has been significant because dividends paid to foreign persons are generally subject to a flat 30% withholding tax
Ballard Spahr: The New Tax Law
Beginning 2004, the personal income tax rate will increase from 2. Capital Stock/Franchise Tax Rate Reduction Delayed
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward Kronish LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress ReleasesCooley Publications Emily Foley-- Ashley Kanigher 07/02/01The Economic Growth elief Reconciliation Act of 2001: Impact on Estate PlanningOn June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation
Cooley Godward: The Economic Growth & Tax Relief Reconciliation Act of ...
Cooley Godward Kronish LLP | News cations | Cooley Alerts | The Economic Growth elief Reconciliation Act of 2001: Impact on Estate Planning Advanced Search Search Help Cooley Alerts Recent HeadlinesAnnual ReviewsCooley AlertsAlerts Sign UpIn The NewsPress ReleasesCooley Publications Emily Foley-- Ashley Kanigher 07/02/01The Economic Growth elief Reconciliation Act of 2001: Impact on Estate PlanningOn June 7, 2001 President Bush signed into law the Economic Growth and Tax Relief Reconciliation
Cooley Godward: SEC Settles Action Against GE
Curtis Mallet-Prevost: Client and Colleague Alert: Change in U.S. Patent and T...
Curtis Mallet-Prevost: Alert: Timeline for SEC's Proposals and Comments (...
Garvey Schubert Barer: Summary of Changes in U.S. Estate and Gift Tax and Gene...
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Gray Cary: Estate Planning Update:? Economic Growth and Tax Relief...
Honigman Miller: Tax Considerations in Trust Administration
I. Overview of Tax Considerations Involving Trusts Initial Questions. Each time that you begin the representation of a trustee of any kind of trust, you should determine the answers to the following questions: · What possible taxes are owing
Lord: Client Alert: Governor Approves Act Amending Illinois E...
Client Alert: Governor Approves Act Amending Illinois Estate Tax-Lord Bissell & Brook window. open('Newsstand/IllinoisEstateAmend-Lord
Michael Best & Friedrich: Estate Planning Update
Morris: Estate Planning before the Sale or IPO
7753 Basic Goals and Tax planning Maximize Unified Credit (currently $625,000) Shift appreciation. Utilize generation skipping Great techniques that don t work anymore Estate Freeze - IRC § 2701 (1990) now provides that only "qualified payments" (i
Nutter McClennen & Fish: The Economic Growth and Tax Relief Reconciliation Act o...
...write("homeFlashContent"); Boston SecureWorld Expo"David Szabo and Dawn Curry present during Boston SecureWorld Expo March 15, 2007 Nutter client wins prize for inventiveness March 2007 Susan Repetti presents to American College of Trust and Estate Counsel March 9, 2007 Nutter selected as 2007 recipient of PAIR Project pro bono award March 2007 Marianne Ajemian quoted on advancement of women in the real estate industry Real Estate Portfolio February 2007 Paul Eklund and Stephen Gould publish
Nutter McClennen & Fish: IRS Issues Temporary Regulations on Intermediate Sancti...
...write("homeFlashContent"); Boston SecureWorld Expo"David Szabo and Dawn Curry present during Boston SecureWorld Expo March 15, 2007 Nutter client wins prize for inventiveness March 2007 Susan Repetti presents to American College of Trust and Estate Counsel March 9, 2007 Nutter selected as 2007 recipient of PAIR Project pro bono award March 2007 Marianne Ajemian quoted on advancement of women in the real estate industry Real Estate Portfolio February 2007 Paul Eklund and Stephen Gould publish
Nutter McClennen & Fish: ERISA and Employee Benefit Update
...write("homeFlashContent"); Boston SecureWorld Expo"David Szabo and Dawn Curry present during Boston SecureWorld Expo March 15, 2007 Nutter client wins prize for inventiveness March 2007 Susan Repetti presents to American College of Trust and Estate Counsel March 9, 2007 Nutter selected as 2007 recipient of PAIR Project pro bono award March 2007 Marianne Ajemian quoted on advancement of women in the real estate industry Real Estate Portfolio February 2007 Paul Eklund and Stephen Gould publish
Poyner and Spruill: Planning Techniques for "Overfunded" Retireme...
Estate Planning Bulletin -- January 1997 Estate Planning Bulletin January, 1997 Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Congress Passes Legislation Protecting Fiduciaries from Environmental Liabilities Use of S Corporation More Attractive Under the Small Business Job Protection Act Intermediate Sanctions and Exempt Organizations Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Under current law when a person
Poyner and Spruill: Congress Passes Legislation Protecting Fiduciaries from...
Estate Planning Bulletin -- January 1997 Estate Planning Bulletin January, 1997 Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Congress Passes Legislation Protecting Fiduciaries from Environmental Liabilities Use of S Corporation More Attractive Under the Small Business Job Protection Act Intermediate Sanctions and Exempt Organizations Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Under current law when a person
Poyner and Spruill: Use of S Corporation More Attractive Under the Small Bu...
Estate Planning Bulletin -- January 1997 Estate Planning Bulletin January, 1997 Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Congress Passes Legislation Protecting Fiduciaries from Environmental Liabilities Use of S Corporation More Attractive Under the Small Business Job Protection Act Intermediate Sanctions and Exempt Organizations Planning Techniques for "Overfunded" Retirement Plans and Individual Retirement Accounts Under current law when a person
Poyner and Spruill: Intermediate Sanctions and Exempt Organizations
"Overfunded" plans are those which may be subject to additional estate taxes or excise taxes described below. The various taxes which may apply to interests in retirement plans and individual retirement accounts are: Federal estate taxes which begin at 37% and rise to 55% on taxable estates over $3,000,000
Snell & Wilmer: Business Succession Planning
Business owners who leave business interests to their heirs need to ensure that their estates also have sufficient liquidity to pay death taxes, administrative expenses, and ongoing living expenses. To the extent that the owner has not transferred the business interests during his or her life, they will be in the owner's gross estate for estate tax purposes (or for purposes of any capital gains tax in the event of estate tax repeal)
Snell & Wilmer: Family Business Succession: Creating Your Own Story
She also consulted with the family's strategies with their family- also facilitate the application of estate tax cred- accountant to be sure that the new entity would held visions to better insure its and provide some level of creditor protection. be properly reported to the tax authorities
Testa: New Tax Act Makes Major Changes To
The Act makes extensive changes over the next ten years to the current estate, gift and generation skipping tax law, including a repeal of the estate tax (but not the gift tax) in 2010, an intervening increase in the $675,000 estate tax exemption to $3,500,000, and an intervening reduction of the highest estate and gift tax rates from 55% to 45. In an unusual development forced by the legislative budgetary process, all provisions under the Act, and in particular the scheduled repeal of the
Weil: Death Tax Relief -- The Road Not Taken
35 trillion tax cut that was signed by President Bush on June 7th dedicates $133. 2 billion of revenue cuts to transfer tax reduction, but takes no substantial steps toward either the goal of reform or repeal
Weil: Some Changes But No Fixes to the Act on the Ownership o...
For example, the Czech Civil Code generally provides that when real estate is co-owned and one of the co-owners wishes to sell its interest in the real estate, then all of the co-owners have preemptive rights (i. With respect to the apportionment of real estate taxes, there are similar issues that should be resolved
