By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP
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"...
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...
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...
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...
By J. Corey Reeder
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 ...
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...
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...
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...
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
By Prof. Michael T. Flannery
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...
The Internal Revenue Service (IRS) valuation tables used to determine the value of a life estate, annuity or remainder interest are required to be updated by the IRS every 10 years. The new tables were released on April 29, 2009, and they reflect an increase...
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...
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...
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...