Estate and Elder Law

Recent Posts

McNees Wallace & Nurick LLC: Tax-Advantage Charitable Giving
Posted on 18 May 2012 by McNees Wallace & Nurick LLC

By David M. Watts, Jr. If you are charitably inclined, there are tax-advantaged ways to make a gift to a favorite charity while enjoying the income from that gift for your lifetime. Many educational and charitable organizations offer plans that combine... Read More

Morrison & Foerster LLP: Charities, S Corporations and UBIT: Why a Charitable Gift of S Corporation Stock May Not Be the Best Option
Posted on 28 Feb 2012 by Morrison and Foerster LLP

By Danielle T. Zaragoza , Esq., Morrison & Foerster LLP Not all charitable gifts are created equal, and a charity is not required to accept any and all donations of property, especially property that may be difficult to own or liquidate in... Read More

Year-End Charitable Giving: More Attractive Than Ever In 2010
Posted on 2 Dec 2010 by Morrison and Foerster LLP

By Genevieve M. Moore, Esq. As estate planners, we are familiar with advising clients about charitable gifts. Gifts and bequests can yield valuable income, gift and estate tax deductions to donors, and of course provide significant philanthropic... Read More

Williams Mullen: Wealth Transfer Planning in 2012: Perfect Storm of Opportunity
Posted on 24 Apr 2012 by Williams Mullen

BY: FARHAD AGHDAMI 2012 may present the single greatest opportunity for wealth transfer planning in recent memory. A $5.12 million gift tax exemption, combined with low interest rates and historically low valuations for many asset classes, creates... Read More

McNees Wallace & Nurick LLC: Gifting and Marcellus Shale
Posted on 13 Dec 2011 by McNees Wallace & Nurick LLC

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

Morrison & Foerster LLP: Allocation of GST Exemption to 2010 Gifts (Or Not!)
Posted on 8 May 2011 by Morrison and Foerster LLP

By Wendy M. Greenberg, Esq. of Morrison & Foerster LLP Thanks to the eleventh hour passing of the 2010 Tax Relief Act (the "Act") and the temporary opportunities provided by the Act, our firm's Trusts and Estates group, like many... Read More

Ballard Spahr LLP: IRS Announces that Gifts to Single-Member LLCs Owned by Charitable Organizations Are Deductible
Posted on 16 Aug 2012 by Ballard Spahr LLP

By Jean C. Hemphill and Christopher A. Jones The IRS has published welcome, long-awaited guidance regarding the deductibility of contributions made to a single-member limited liability company (LLC) owned by a charitable organization. For a variety... Read More

Estate and Gift Tax Alert
Posted on 25 Jan 2011 by Frankfurt Kurnit Klein & Selz

The Tax Relief Act of 2010 was overwhelmingly passed by Congress and signed into law by President Obama on December 17, 2010. The new law provides numerous tax benefits for businesses and individuals for the next two years, including: Continuing... Read More

Funding the Family Foundation: Considerations for Donors of Privately Held Securities
Posted on 1 Feb 2011 by Morrison and Foerster LLP

By Sonja K. Johnson , Esq., Morrison & Foerster LLP Private family foundations have long been a popular vehicle for high net worth individuals to take advantage of valuable tax planning opportunities while maintaining ongoing involvement with... Read More

Morrison & Foerster LLP: Making Gifts Using Defined Value Clauses: Not Necessarily Void as Against Public Policy
Posted on 21 Aug 2012 by Morrison and Foerster LLP

By Danielle T. Zaragoza, Esq ., Morrison & Foerster LLP Given the relatively large federal gift tax applicable exclusion amount available for taxable gifts in 2011 and 2012, many clients have made or are considering making significant gifts... Read More

Morrison & Foerster LLP: Gifts and Bequests to Employees
Posted on 24 Oct 2011 by Morrison and Foerster LLP

By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP It is not at all uncommon for our clients to make provisions for long-time employees in their wills or trusts. Most of the time, we don't think twice about these bequests, because we know... Read More

A New (2008) Tax On You At The Top Gift And/Or Estate Tax Rate If You Receive A Gift Or Bequest From A “Covered Expatriate”; Who Is That?
Posted on 5 Oct 2010 by Richard S. Kinyon

Section 301 of the Heroes Earnings Assistance and Relief Tax ("HEART") Act of 2008 added new sections 877A and 2801 to the Internal Revenue Code ("IRC"). These sections generally apply to any U.S. citizen who relinquishes his or... Read More

Morrison & Foerster LLP: Planning and Administration in a Volatile Economy: Dealing with Abatement
Posted on 26 Sep 2011 by Morrison and Foerster LLP

By Sonja K. Johnson, Esq ., Morrison & Foerster LLP Fluctuations in today's economic climate necessitate that individuals and their estate planning professionals consider the possibility of abatement (i.e., reduction of gifts due to insufficient... Read More

Tags: abatement , Gifts

Morrison & Foerster LLP: Gift Tax Planning Opportunities: The Window Is Closing
Posted on 24 Apr 2012 by Morrison and Foerster LLP

By Genevieve M. Moore & Richard S. Kinyon , Morrison & Foerster LLP As reported in this space over the last several months, there has been unprecedented upheaval in the federal transfer tax world in the last few years. One element of this... Read More

QPRTS and PRTS: Planning Strategies for Transferring Family Homes
Posted on 13 Aug 2010 by Nancy G. Henderson

As an alternative to gifting direct interests in a family home to children, a donor can establish an inter vivos trust for the benefit of children or other family members and make gifts of interests in the property to such a trust during life. There... Read More