Tax Law

Recent Posts

Wills and Trusts: Different Standards for Capacity?
Posted on 6 Jul 2012 by Morrison and Foerster LLP

By Genevieve M. Moore , Morrison & Foerster LLP It is more and more common for individuals to use a revocable trust instead of a Will as their primary estate planning document, particularly in California where we practice. Although there is an... Read More

What Just Happened to the Federal Transfer Tax System?
Posted on 31 Dec 2009 by Richard A. Lang and Judith W. McCue

In 2010 a whole new set of tax rules could apply to gifts and assets passing from estates. The U.S. federal transfer tax system just found itself unceremoniously dumped on the side of the road by a Congress that sped off to attend to health care and... Read More

Multi-Tasking Property: Funding a GRAT With Property That Also Serves as Loan Collateral
Posted on 24 Nov 2009 by Sonja K. Johnson, Esq.

Introduction Many estate planning practitioners recommend the use of grantor retained annuity trusts (“GRATs”) as a tool through which individuals may reduce the ultimate estate tax liability of their estates. Property transferred to a... Read More

Estate Planning Update - December 2009
Posted on 30 Dec 2009 by Pepper Hamilton Trusts & Estates Practice Group

To Be or Not to Be - An Estate Tax? As Congress adjourns for the year, failure to act on new estate tax legislation means that the repeal of the Federal Estate and Generation Skipping Transfer (GST) taxes will go into effect in 2010. Before taking any... Read More

Pepper Hamilton, LLP: Don't Let the 2009 Increased Transfer Tax Exemptions Result in Unintended Consequences
Posted on 11 Feb 2009 by Pepper Hamilton LLP Trusts and Estates Practice Gr

As discussed in our December 2008 Estate Planning Update , effective January 1, 2009, the amount of property that an individual may transfer free of federal estate tax and generation-skipping transfer (GST) tax increased to $3.5 million. Various estate... Read More

Tax Benefits Stay with Life Estate Owner
Posted on 13 Sep 2010 by Deirdre R. Wheatley-Liss

Will your taxes change if you make a gift of real estate subject to a life estate over a straight gift of real estate? Guest blogger Stacey Crowell Maiden, Esq. , Of Counsel to our Trusts and Estates and Elder Law Practice Group provides an explanation... Read More

Doing the Math: Interest Rate Trends and Common Estate Planning Techniques, from Morrison & Foerster LLP
Posted on 5 Jun 2012 by Morrison and Foerster LLP

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

Morrison & Foerster LLP on the Health Reform Law, the Economic Substance Doctrine and Estate Planning
Posted on 2 Mar 2011 by Morrison and Foerster LLP

The Health Reform Act of 2010 enacted IRC § 7701(o), entitled "Clarification of economic substance doctrine." This doctrine can be seen in the estate planning field, being a part of various types of transactions. Examples include: when... Read More

Estate Planning Update
Posted on 26 Apr 2010 by Pepper Hamilton LLP Trusts and Estates Practice Gr

We are into the second quarter of 2010 and still no federal estate tax. Will Congress pass new legislation? And if so, will it be retroactive? Congress has given no indication it will do anything, so we are likely to be dealing with this uncertainty... Read More