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By Keith Grissom on October 29, 2021 at 9:30 AM

The latest text of the proposed reconciliation bill, titled the Build Back Better Act, published on October 28, 2021, is void of many of the prior proposed tax changes that would have upended estate planning. Changes that were included in the earlier version of the bill but not in this most recent version include:

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By Keith Grissom on October 15, 2021 at 12:30 PM

Wolters Kluwer has released projected 2022 figures for the gift tax annual exclusion amount as well as the estate and gift tax lifetime exemption amount. These figures were determined by Wolters Kluwer using formulas contained in the Internal Revenue Code. They are based on the increase in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for the 12-month period that ended August 31, 2021.

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By Keith Grissom on September 30, 2021 at 10:45 AM

On September 28, 2021, the House Budget Committee released a report that provides explanations with respect to certain provisions included in the proposed House bill called the Build Back Better Act (the “Report”).

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By Keith Grissom on September 15, 2021 at 10:15 AM

On Monday, September 13, 2021, the House Ways and Means Committee released the text for proposed tax changes to be incorporated in a budget reconciliation bill called the Build Back Better Act (the “Act”). The 881-page text includes several significant changes to income and transfer taxes that could drastically change estate, gift and individual income tax planning if made into law.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on August 19, 2020 at 9:30 AM

This is the sixth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. The next post will conclude the series with a discussion of charitable giving.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on August 12, 2020 at 12:00 PM

This is the fifth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover installment sales to defective grantor trusts and charitable giving.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on August 4, 2020 at 3:00 PM

This is the fourth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on July 27, 2020 at 3:00 PM

This is the third installment in a seven-part blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here. Future installments will cover creating Grantor Retained Annuity Trusts, family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on July 20, 2020 at 3:00 PM

This is the second installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our overview in Part 1 here. Future installments will cover making or refinancing loans, creating Grantor Retained Annuity Trusts, family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

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By Keith Grissom, Jennifer Davis, Elizabeth Pack on July 13, 2020 at 5:00 PM

This is the first in a blog series on opportunities for tax planning in the current uncertain, low-interest rate environment. Future installments will cover one-time and annual gifting, making or refinancing loans, creating Grantor Retained Annuity Trusts, family limited partnerships and limited liability companies, installment sales to defective grantor trusts, and charitable giving.

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