Presenters at the 2018 Heckerling Institute on Estate Planning identified several enhanced areas of focus for legacy and life insurance planning post tax-reform, including (1) basis adjustment planning, (2) the potential benefits and pitfalls of portability, especially in light of the doubled federal transfer tax exemptions, and (3) the need to review and refresh existing…
Transfer taxes
Legacy Planning Post-Tax Reform – Part 2: New Transfer Tax Exemptions – Use ‘Em or Lose ‘Em
Topics: Tax treatment, Transfer taxes
The 2017 tax reform legislation (the “Tax Act”) doubled the gift, estate, and generation-skipping transfer (“GST”) tax exemptions effective January 1, 2018.
Legacy Planning Post-Tax Reform – Part 1: Let Me Count the Ways: 5 Questions for Non-Taxable Estates
Topics: Tax reform, Transfer taxes
The doubling of the federal gift, estate, and generation-skipping transfer (“GST”) tax exemptions ($11.18 million in 2018) has drastically reduced the number of individuals whose estates will incur a federal estate tax. Yet, potential estate tax exposure should not be the sole motivator for legacy and life insurance planning.
Tax reform legislation (“H.R. 1”) was signed by the President on December 20th, enacting numerous immediate changes affecting all areas of the Internal Revenue Code (“Code”), including changes to gift, estate, and generation- skipping transfer (“GST”) taxes. Effective January 1, 2018, H.R. 1 doubles the base exemption level for the gift/estate and GST tax from…
Several factors now impact all wealth transfer planning, including: (1) higher income and capital gains tax rates, (2) lower gift and estate tax rates, (3) basis step-up applicability in more situations, and (4) varying state capital gains and estate taxes, depending on the donor’s and recipient’s state of residence. We will examine the new approach…
The Hits Just Keep on Coming: 2016 Gift, Estates & Trusts Priorities – IRS Names Grantor Trusts Among New Items.
Topics: Estate planning, Grantor trusts, Transfer taxes, Trusts
The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation’s leading tax and wealth management law firms. The WRMarketplace provides deep insight into trends and events impa cting the use of life insurance products, including key take-aways, for AALU members, clients and advisors. The AALU WRNewswire…
Market Watch – Planning Before Interest Rates Rise.
Topics: Estate planning, Grantor trusts, Transfer taxes, Trusts
Thursday, September 17, 2015WRM#15-34 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation’s leading tax and wealth management law firms. The WRMarketplace provides deep insight into trends and events impacting the use of life insurance products, including key take-aways, for AALU members, clients and advisors....
Thursday, July 16, 2015WRM#15-26 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation’s leading tax and wealth management law firms. The WRMarketplace provides deep insight into trends and events impacting the use of life insurance products, including key take-aways, for AALU members, clients and advisors.…
Crummey Powers – Crummy or Essential? It’s More Than Just Moving Paper.
Topics: Estate planning, ILIT, Transfer taxes, Trusts
Thursday, July 2, 2015WRM#15-24 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation’s leading tax and wealth management law firms. The WRMarketplace provides deep insight into trends and events impacting the use of life insurance products, including key take-aways, for AALU members, clients and advisors.…
Thursday, May 21, 2015WRM#15-18 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation’s leading tax and wealth management law firms. The WRMarketplace provides deep insight into trends and events impacting the use of life insurance products, including key take-aways, for AALU members, clients and advisors.…