This update summarizes certain federal and state transfer tax developments and reminds clients of certain wealth transfer strategies that could be advantageous in the current environment.
On September 13, 2021, the House Ways and Means Committee released its tax proposal (the Committee Proposal) for raising revenue to help fund President Biden's Build Back Better Act.
For much of 2020, estate planning clients have been focused on continuing to take advantage of the historically high federal estate, gift and generation-skipping transfer tax exemption…
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020 and, as part of its broad financial assistance and economic relief provisions,…
As part of its coronavirus (COVID-19) relief efforts, on March 27, 2020, the Treasury Department issued a notice granting relief to all taxpayers who have Federal Gift (and Generation…
Using his emergency authority, Governor Cuomo issued an executive order temporarily authorizing any notarial act that is required under New York State Law to be performed using audio-video…
The coronavirus (COVID-19) is having an enormous impact on all of us globally. This Client Memorandum highlights estate planning matters that may be particularly relevant in the current…
We anticipate that, for higher-net-worth individuals, much of estate planning in 2020 will be focused on continuing to take advantage of the current $11.58 million ($23.16 million combined…
The Tax Cuts and Jobs Act (the “Act”), which took effect January 1, 2018, made sweeping changes to the federal tax landscape. Of particular relevance in the estate planning context were the…
