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Client Alert
November 7, 2024
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Newsletter
November 2024 AFRs and 7520 Rate
Inflation Adjustments for 2025 & Planning Considerations
Delaware "Beneficiary Well-Being Trust"
Practice Considerations – Implications for Estate Planning
Estate of Williams: Omission of a Testator’s Other Known Children Demonstrated His Intent to Exclude All Preexisting Children, Known or Unknown
Estate of Nowell v. Commissioner: Fractional Interest Discount Planning with QTIPS
McDougall v. Commissioner: Termination of QTIP Trust Results in Gift Tax Liability to Remainder Beneficiaries
Estate of Fields v. Commissioner: Inclusion of Transferred Assets under § 2036(a)
November 2024
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Blog
From Employee Benefits & Executive Compensation
on October 30, 2024
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Newsletter
Estate, Gift and GST Tax Update
Gift Tax Update
New York Basic Exclusion Amount to Increase in 2025
Connecticut Estate Planning Update
Massachusetts Estate Planning Update
Spousal Lifetime Access Trusts (“SLATS”)
November 2024
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Blog
From Employee Benefits & Executive Compensation
on September 11, 2024
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Newsletter
September 2024 AFRs and 7520 Rate
In the Matter of the Niki and Darren Irrevocable Trust and the N and D Delaware Irrevocable Trust, No. 2019-0302-SG (Del. Ch., July 24, 2024) – Delaware Court of Chancery Holds Trust Decanting Void Due to Noncompliance with Statutory Requirements
Conn. Pub. Act No. 24-104 – Connecticut Uniform Trust Decanting Act
Florida Bar Trust Law Committee – Legislative Proposal Re: Amendment to Decanting Statute
Neal v. Lamb-Ferrara, 2024 Fla. App. LEXIS 4172 (Fla. Ct. App., 3d Dist., May 29, 2024) - Warning to Out of State Lawyers Who Advise Florida Residents on Trust/Estate Planning and Administration Matters
ABA Formal Ethics Opinion 511R – Confidentiality Obligations of Lawyers Posting to Listservs
Conley v. Conley (In re Conley Trust), No. 366180 (Mich. Ct. App., July 18, 2024) – Michigan Court Holds Beneficiaries Properly Issued K-1s in Connection with Transfer Made Pursuant to a Trust Settlement Agreement
FedEx Corp. v. United States, W.D. Tenn., No. 2:20-cv-02794 – District Court Requests Supplemental Briefing on Impact of Loper Bright Doctrine in a Federal Tax Case; Taxpayer and Government Unsurprisingly Disagree
IRS Promulgates Final Regulations and Additional Proposed Regulations with Respect to Required Minimum Distributions from Qualified Retirement Accounts
September 2024
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Press Release
August 14, 2024
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Blog
From Employee Benefits & Executive Compensation Blog
on July 26, 2024
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Article
The estate and gift tax exemption is set to be cut in half at the end of 2025. Estate planners are seeing an uptick in client inquiries who are seeking to utilize their exemptions prior to the scheduled reduction. For many of these clients that know they should use their exemptions now but are not sure they can, the SLAT may be a good technique. This article provides an in depth analysis of SLAT planning.
“There is a real appetite for this knowledge as we get close to 2025’s crush. Our hope is to be out front of this with our referral sources, so that when 2025 is upon us their first thought it to reach out to Proskauer for help in SLAT planning.” Read article here.
From NAEPC Journal of Estate and Tax Planning
on July 2024
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Awards and Recognition
July 24, 2024