By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP The interest rate used to determine actuarial valuations of certain retained or remainder interests for purposes of federal gift and estate tax, commonly referred to as the "7520 rate"... Read More
Until now, the option of contributing to a Roth IRA was limited to those individuals with modified adjusted gross incomes below roughly $176,000 (for married taxpayers filing jointly) or $120,000 (for single taxpayers or those filing as head of household... Read More
A recent Tax Court decision has caught the attention of estate planners and appraisers because of its implications for gifts of undivided interests in real property. The case at issue is Ludwick v. Comm'r, T.C. Memo 2010-104 (May 10, 2010) . In... Read More
By Darin Christensen The following represent opportunities to address important issues in your estate plan. In some cases, these will be reminders about conditions that often are overlooked. In others, these will highlight alternatives that may... Read More
By J. Corey Reeder When estate planning lawyers discuss gifting as an estate planning strategy with clients, there are a few very important components to this discussion that must be reviewed in order to most effectively leverage gifting as ... Read More
BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK In December 2010, Congress created a new right of "portability" between spouses,to remedy the circumstance in which spouses were unable or unwilling to engage in estate tax planning. For deaths... Read More
Upon repeal of the federal estate tax laws, many estate planners were forced to take a closer look at specific sections of the Internal Revenue Code affected by repeal. One provision that has received particular attention is section 2511(c) , which... Read More
By Darin Christensen On June 28, Governor Kitzhaber signed a bill that will replace Oregon's inheritance tax with an estate tax. The estate tax is similar to the former inheritance tax, but has several substantial differences and provides some... Read More
By Joseph L. Wyatt, Jr. Morrison & Foerster LLP The Health Reform Act of 2010 [ Health Care and Education Affordability Reconciliation Act of 2010 ] occupies 2,377 pages, of which only one page, occupied by section 1409 of that Act, enacts... Read More
By Prof. Michael T. Flannery Excerpt: When preparing a revocable living trust for a client, consider the client's desire to plan for companion animals, which is an increasingly important option for pet owners. As of mid-2011, approximately 62... Read More
On December 17, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the 2010 Tax Act). Under the 2010 Tax Act, individuals can take advantage of the most favorable estate, gift and generation-skipping... Read More
Family limited partnerships (FLP) are often proposed by estate planning advisors as a vehicle for making gifts to family members at a discount. Over the years, a substantial amount of litigation has established some limits for a valid family partnership... Read More
Estate planning for the succession to family properties requires careful consideration of a number of complicated, and sometimes conflicting, tax laws. In this Analysis, Nancy G. Henderson discusses primary tax considerations in estate planning for... Read More