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Results: 1-10 of 138

Federal exclusion from gift, estate and generation-skipping transfer taxes increases to $5,340,000 in 2014
  • Proskauer Rose LLP
  • USA
  • November 1 2013

In Revenue Ruling 2013-35, the IRS announced certain inflation adjustments to tax exemptions and deductions. The IRS increased the basic exclusion


November interest rates for GRATs, sales to defective grantor trusts, intra-family loans and split interest charitable trusts
  • Proskauer Rose LLP
  • USA
  • November 1 2013

The November 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0. This is down from October's 2.4


The Tax Court holds, in a summary judgment ruling, that the Beneficiaries of gifts who are obligated to pay any potential estate tax liability arising from the gifts may decrease the value of the gift by the actuarial value of that obligation
  • Proskauer Rose LLP
  • USA
  • November 1 2013

In Steinberg v. Commissioner, 141 T.C. No. 8 (September 30, 2013), a mother (the "Parent") gave cash and securities to her daughters (the


December interest rates for GRATs, sales to defective grantor trusts, intra-family loans and split interest charitable trusts
  • Proskauer Rose LLP
  • USA
  • December 12 2013

The December 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0, which is unchanged from last month


Estate planning opportunities in a world without DOMA
  • Proskauer Rose LLP
  • USA
  • July 3 2013

On June 26, 2013, the United States Supreme Court issued its decisions in Windsor v. United States and Hollingsworth, et. al. v. Perry et. al., thus


Nassau Surrogate's Court issues opinion on decanting under New York EPTL 10-6.6
  • Proskauer Rose LLP
  • USA
  • December 12 2013

With In Re Kroll, 971 N.Y.S.2d 863, the Nassau Surrogate Court has issued what may be the first opinion dealing with the amended decanting statute


Wealth management update
  • Proskauer Rose LLP
  • USA
  • November 11 2014

The November Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.2, unchanged from October. The


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


Income tax is payable on proceeds from surrender of a life insurance policy used to repay a loan against the policy
  • Proskauer Rose LLP
  • USA
  • January 9 2014

In a recent income tax case, the Tax Court affirmed the principal that the proceeds received from surrender of an insurance policy in excess of the


Tax Court refused to admit appraisal into evidence when taxpayer failed to qualify the appraiser as an expert witness
  • Proskauer Rose LLP
  • USA
  • January 9 2014

In Tanenblatt v. Commissioner, the Tax Court made clear that it would not allow a taxpayer to circumvent the Federal Rules of Evidence or the Court's