LexisNexis® Legal Newsroom
Williams Mullen: Wealth Transfer Planning in 2012: Perfect Storm of Opportunity

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 an ideal environment for wealth transfer planning....

Morrison & Foerster LLP: Gift Tax Planning Opportunities: The Window Is Closing

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 was the unexpected increase in the federal gift and...

The John Edwards Case - What About Gift Taxes?

Yesterday [May 8th] I blogged about North Carolina's controversial Amendment One, which ended up passing by a large margin. I also have some thoughts about another matter in the headlines - the John Edwards trial. I have not been following the case closely, but I do know that central to the case...

McNees Wallace & Nurick LLC: Tax-Advantage Charitable Giving

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 the benefits of an immediate income tax deduction...

Properly Reporting Gifts

As 2013 approaches, there will be a flurry of activity by wealthy individuals seeking to take advantage of a gift tax exemption of $5,120,000, that will decrease to only $1 million in 2013. Taxpayers often gift closely held business interests or real estate. The gift value of this type of non-marketable...

Morrison & Foerster LLP: Making Gifts Using Defined Value Clauses: Not Necessarily Void as Against Public Policy

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 before the end of this year. For a client who wants...

Power to Substitute & End of Year Planning

By: David R. Schoenhaar, Esq.* If you are currently planning for clients to use the historically high gift tax exemption amount before the end of the year, you are becoming acutely aware that time is running out. Whether it is the appraisal companies refusing to take new business or the closing...