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By Trusts & Estates Practice Group on April 19, 2022 at 9:00 AM

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for May 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

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By Trusts & Estates Practice Group on March 22, 2022 at 11:00 AM

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for April 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

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By Trusts & Estates Practice Group on February 22, 2022 at 10:00 AM

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for March 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

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By Trusts & Estates Practice Group on February 14, 2022 at 11:00 AM

It’s that time of year again!  The start of 2022 has brought us an increase in exemption amounts for estate, gift, and generation-skipping transfer (GST) taxes. Each year, the Internal Revenue Service adjusts tax rates to provide for annual cost-of-living increases.

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By Garrett Reuter, Jr. on February 7, 2022 at 2:00 PM

How many times have you prepared your income tax returns for the previous year, only wishing you knew then what you know now, so you could go back and make more advantageous tax decisions? In most cases, you are stuck with the decisions you made before the new tax year began, even though you may not have all the relevant tax information available to assist with those decisions until several months into the new tax year. Too bad, says the IRS, unless you are an estate or trust.

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By Garrett Reuter, Jr. on January 26, 2021 at 11:15 AM

How many times have you prepared your income tax returns for the previous year, only wishing you knew then what you know now, so you could go back and make more advantageous tax decisions?  In most cases, you are stuck with the decisions you made before the new tax year began, even though you may not have all the relevant tax information available to assist with those decisions until several months into the new tax year.  Too bad for you, says the IRS, unless you are an estate or trust.

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By Trusts & Estates Practice Group on February 25, 2020 at 9:15 AM

IRS announces AFRs for February 2020The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for March 2020. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Here are the rates for March 2020: 

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By Trusts & Estates Practice Group on January 30, 2020 at 3:30 PM

IRS announces AFRs for February 2020The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for February 2020. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Here are the rates for February 2020:

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By Elizabeth Pack on December 19, 2019 at 2:45 PM

Close up of number wooden block toy on top unstable stack of coins with bokeh green leaf nature backgroundThe Internal Revenue Service recently published its annual inflation-adjusted figures for 2020 for estate and trust income tax brackets, as well as the exemption amounts for estate, gift and generation-skipping transfer (GST) taxes. These figures are adjusted annually for cost-of-living increases.

Below is a summary of the 2020 figures. The original news release from the IRS may be found here.

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By Keith Herman on December 11, 2019 at 2:50 PM

A golden egg in a nest, with the words "Asset Protection Planning Series, Part 1"Each year, Greensfelder hosts a fall Estate Planning Symposium that addresses recent developments in estate planning. At the 2019 symposium, Trusts & Estates attorney Keith Herman presented on recent developments in asset protection.

As a follow-up to Keith’s presentation, we are pleased to present a three-part blog series that touches upon the lessons learned from several recent case law developments that impact asset protection planning. The topics include the importance of timing when protecting assets from creditors, when to name an irrevocable trust as beneficiary of an IRA or other retirement account, and why using trusts for divorce protection may not be enough.

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