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Client Alert
on November 7, 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”)
on November 2024
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Press Release
on August 14, 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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Newsletter
June 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
U.S. Senate Targets Grantor Retained Annuity Trusts
IRS Issues Notice 2024-35, Providing Relief for Taxpayers Who Failed to Take RMDs
The IRS Adopts New Reg. § 26.2642-7
Finkbeiner, PLC v. Estate of Scott, No. 363756, 2024 BL 112514 (Mich. Ct. App. Mar 21, 2024)
New Challenges to the CTA Argue Alternative Theories for the Law's Unconstitutionality
U.S. House of Representatives Passes Bipartisan H.R. 6408, Suspending the Tax-Exempt Status of Terrorist Supporting Organizations
on June 2024
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Newsletter
January 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
REG-142338-07 – Proposed Regulations Related to Donor Advised Funds
Eileen Gonzalez et al v. Luis O. Chiong et al (Sep. 19, 2023)
IR-2023-185 (Oct 5, 2023)
New York Public Health Law amended to permit remote witnesses for health care proxies (Nov 17, 2023)
Small Business Succession Planning Act Introduced (Oct 12, 2023)
on January 2024
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Newsletter
Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting
December 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
Jones v. Jones (Mass. App. Ct. 2023)
Estate of Caan v. Commissioner, 161 T.C. No. 6
In re Estate of Anna Brudek
on December 2023
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Newsletter
November Interest Rates for GRATS, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
In re IMO Amelia Noel Living Trust, Del. Ch. August 16, 2022, aff’d, 293 A.3d 1000 (Del. 2023)
In re the Trust of Eva Marie Hanson Living Trust dated December 11, 1995 (Minn. Ct. App. Jan. 30, 2023)
Glynn v. Kenney, 884 S.E.2d 259 (Va. Ct. App. 2023)
James v. Mounts, 660 S.W.3d 801 (Ark. 2023)
PLR 202339008
on November 2023
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Newsletter
Estate, Gift and GST Tax Update
Gift Tax Update
New York Estate Planning Update
Connecticut Estate Planning Update
Massachusetts Estate Planning Update
New Jersey Estate Planning Update
Make Sure That You Take Your IRA Required Minimum Distributions by December 31, 2023
Understanding the Inflation Adjustments to the Estate, Gift and Generation-Skipping Transfer Exemption Amounts
on November 2023
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Newsletter
September 2023 AFRs and 7520 Rate
More Large Inflation Adjustments Are in Store for 2024 and 2025
IRS Notice 2023-54: Transition Relief and Guidance Relating to Certain RMDs
Estate of Demuth v. Comm'r: Checks Delivered Before, but Deposited After Decedent's Death, are Includable in Decedent's Estate
Schaddelee v. Deleon: Using a General Assignment as a "Catch All" for Irrevocable Trust Funding Does Not Supersede a Beneficiary Designation
Matter of Wells: Unsuccessful Attempt at Probating a Conformed Copy of a Will
Matter of Fakhra: Renunciations are Irrevocable, and They Do Not Need to be Physically Served
on September 2023
