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Wealth Management Update - December 2016
  • Proskauer Rose LLP
  • USA
  • December 15 2016

The December 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.8, up 0.2 from November. The December


Crummey withdrawal notices recommended practices
  • Proskauer Rose LLP
  • USA
  • September 10 2012

Under current tax law, an individual is entitled to make gifts of up to $13,000 per donee per year without being subject to gift tax


2016 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan
  • Proskauer Rose LLP
  • USA
  • December 14 2015

As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent: (1) the reunification of the estate and


Chief Counsel Advice Memorandum 201208026 (9282011)
  • Proskauer Rose LLP
  • USA
  • April 2 2012

In a recently released Memorandum, the IRS Office of Chief Counsel concludes that contributions made by Settlors to a discretionary trust for their descendants were taxable gifts, since (1) the Settlors had not retained any rights that would make the gifts incomplete and (2) the withdrawal powers granted to the beneficiaries were unenforceable in state court and thus illusory


IRS issues an inconsistent ruling on whether a grantor trust can hold an IRA - Priv. Ltr. Rul. 201117042 (April 29, 2011)
  • Proskauer Rose LLP
  • USA
  • July 5 2011

In 2006, the IRS issued Private Letter Ruling 200620025 in which the IRS approved of the transfer of an Inherited IRA to a special needs trust (“SNT”) that was a grantor trust for income tax purposes


Personal planning strategies
  • Proskauer Rose LLP
  • USA
  • December 3 2014

As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent: (1) the reunification of the estate and


Wealth management update
  • Proskauer Rose LLP
  • USA
  • December 4 2015

The December 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0, which is the same as November's rate


New Jersey Estate Tax Exemption Raised to $2,000,000; Estate Tax to be Phased Out
  • Proskauer Rose LLP
  • USA
  • December 8 2016

On January 1, 2017, the amount of property that can pass free of New Jersey State estate tax is set to rise to $2 million. On January 1, 2018, the


Wealth management update
  • Proskauer Rose LLP
  • USA
  • November 12 2015

The November 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0, the same as October. The November


Use it or lose it - increased gift and GST exemption amounts expire on 123112
  • Proskauer Rose LLP
  • USA
  • September 10 2012

On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "2010 Act") was signed into law, making significant modifications to the estate, gift and generation-skipping transfer ("GST") taxes