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....
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...
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...
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...
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...
By Danielle T. Zaragoza,
Esq ., Morrison &
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...
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...