This article from Deborah Jacobs in Forbes outlines some of the dilemmas facing wealthy families who are considering whether and how to take advantage of the opportunities created by the recent estate/gift tax reforms during the next two years. The opportunities are real and substantial, including zeroed-out or "Walton" GRATS, Familly Limited Partnerships, and installment [...]
Joseph T. Hahn
All posts in category Estate Tax
Act On Estate And Gift Tax Opportunities Today? Or Wait And See?
Posted by Joseph Hahn on February 3, 2011
http://hahnestateplanning.com/2011/02/03/act-on-estate-and-gift-tax-opportunities-today-or-wait-and-see/
Role of Bypass Trusts Changing?
Has the recent estate tax reform changed the role of "bypass trusts," long a fixture of married couples' estate planning strategies? This article from MSN Money argues yes. With the exemption increased to $5 million per person and that exemption made "portable" to the surviving spouse, the primary reason for the bypass trust has now [...]
Posted by Joseph Hahn on February 2, 2011
http://hahnestateplanning.com/2011/02/02/role-of-bypass-trusts-changing/
ABA Issues Comments to IRS on Form 8939
The ABA has issued official comments to the IRS on its draft Form 8939 which deals with allocation of basis for property acquired from decedents who died in 2010. This form only applies to those estates who will choose the "no estate tax/carryover basis" system rather than those that will choose the "$5 million exemption/35% [...]
Posted by Joseph Hahn on February 1, 2011
http://hahnestateplanning.com/2011/02/01/aba-issues-comments-to-irs-on-form-8939/
ABA Issues Comments to IRS on Form 8939
The ABA has issued official comments to the IRS on its draft Form 8939 which deals with allocation of basis for property acquired from decedents who died in 2010. This form only applies to those estates who will choose the "no estate tax/carryover basis" system rather than those that will choose the "$5 million exemption/35% [...]
Posted by Joseph Hahn on February 1, 2011
http://hahnestateplanning.com/2011/02/01/aba-issues-comments-to-irs-on-form-8939/
Gift Tax Break A Boon For Wealthy Families
In this Wall Street Journal article, the authors explain how the recent changes to the gift tax regime have created real opportunities for wealthy families and are causing these families to seriously reevaluate their estate plans. The lifetime gift tax exemption has increased dramatically from $1 million to $5 million per person ($10 million per [...]
Posted by Joseph Hahn on January 31, 2011
http://hahnestateplanning.com/2011/01/31/gift-tax-break-a-boon-for-wealthy-families/
What You Need To Know About Estate Tax
Now that the estate tax laws have been reformed for 2011 and 2012, here's an article in US News that talks about what you need to know. Some highlights: (a) you still need to do estate planning; (b) you need to have your existing documents reviewed by an attorney to make sure they are consistent [...]
Posted by Joseph Hahn on January 27, 2011
http://hahnestateplanning.com/2011/01/27/what-you-need-to-know-about-estate-tax/
Your Basic Estate Plan
Ashlea Ebeling writes an excellent article in Forbes detailing the issues that you should be considering when putting together your first estate plan. Just gotten married or had children? Inherited some property? Been a while since you've updated your old will? You need to be meeting with an attorney to put in place your will, [...]
Posted by Joseph Hahn on January 27, 2011
http://hahnestateplanning.com/2011/01/27/your-basic-estate-plan/
Estate, GST and Gift Tax Rates for 2011-2012
Hani Sarji, at Forbes.com, has an excellent piece summarizing the changes in the estate, gift and GST tax schemes for 2011-2012, compared to the 2010 rules, including a very handy chart. For those who have had a hard time keeping track of what was happening, this is a good place to start.
Posted by Joseph Hahn on January 3, 2011
http://hahnestateplanning.com/2011/01/03/estate-gst-and-gift-tax-rates-for-2011-2012/
Do A/B Trusts Still Make Sense For Married Couples?
In this article from AdvisorOne, Michael Fischer explores some issues relating to A/B trusts in the wake of the recent estate tax reforms. Standard estate planning for married couples has typically included a living trust that splits into an A trust (frequently called the "survivor's trust") and a B trust (the "bypass trust" or "credit [...]
Posted by Joseph Hahn on December 28, 2010
http://hahnestateplanning.com/2010/12/28/do-ab-trusts-still-make-sense-for-married-couples/
2010 Year End Gifting
In this article from the Wall Street Journal, Anne Tergesen explores some of the issues and opportunities with year end gifting in 2010 given the recent estate, GST and gift tax reforms. The opportunity mostly lies in the fact that there is no generation skipping tax for 2010, so gifts from grandparents to grandchildren or [...]
Posted by Joseph Hahn on December 23, 2010
http://hahnestateplanning.com/2010/12/23/2010-year-end-gifting/
