We often advise clients to consider any changes in their life every two to three years and determine if any adjustments need to be made to their overall estate plan to ensure that their personal and financial goals are met. However, during these uncertain times, when clients are facing potential risks to their health and
GRAT
Six Months Remain Before Significant Tax Opportunities Expire
By Gary A. Phillips on
Posted in Estate Tax, Federal Gift, Estate and GST Tax
Over the past eighteen months, we have posted frequently to the blog about the valuable tax opportunities available to taxpayers in 2011 and 2012 in connection with gifting assets to younger generations. We are now six months away from those opportunities expiring if Congress fails to act in 2012.
As a further incentive to clients…
March Interest Rates Remain Historically Low
By Gary A. Phillips on
Posted in Estate Planning
In a blog post on February 29, we highlighted the opportunities to implement significant estate planning in 2012, and the possibility that these opportunities may expire if not acted upon. We want to add that the IRS interest rates in March remain historically low, making certain estate planning techniques even more attractive.
The March…
Tax Planning Opportunities in 2012
By Steven D. Leipzig on
Significant estate tax planning opportunities which are available under current legislation may be eliminated or severely restricted after December 31, 2012. It is therefore critical to evaluate whether steps should be taken this year to maximize estate tax savings.
For the following reasons, 2012 is the year to implement tax reduction strategies:
- The federal law
…
The Return of GRAT Restrictions
By Gary A. Phillips & Steven M. Saraisky on
Posted in Estate Planning, Legislation
On June 28, 2011, the Senate introduced Senate Bill 1286 (known as the Trade Adjustment Assistance Extension Act of 2011), which contains the same GRAT restrictions that were introduced in numerous bills in the House of Representatives and Senate in 2010. The comprehensive 2010 tax act enacted in December 2010 did not include any GRAT…