TITLE

Estate Planning and the 2009 Increase in Exemptions and Exclusions

AUTHOR(S)
Gallo, Jon J.
PUB. DATE
December 2008
SOURCE
Journal of Financial Planning;Dec2008, Vol. 21 Issue 12, p36
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses the changes in estate tax law for the year 2009 resulting from the U.S. Economic Growth and Tax Relief Act of 2001. The effect of this law on estate taxes, generation-skipping taxes, gift taxes, and similar regulations is also framed in terms of a sunset provision that will eliminate these changes in 2011. The need for careful estate planning is presented with examples of how a spouse or child can accidentally be disinherited in favor of other children or grandchildren. The risks posed by these and similar circumstances are presented as reasons for considering revisions to the estate management plans held by clients. The effects of changing tax laws on the management of Crummey trusts and other trust funds is considered.
ACCESSION #
35665218

 

Related Articles

  • Federal Estate Tax Returns Filed for Nonresident Aliens, 2009-2011. Belvedere, Melissa J. // Statistics of Income (SOI) Bulletin;Spring2013, Vol. 32 Issue 4, p158 

    The article offers information on the federal estate tax returns filed by estates of nonresident aliens in the U.S. From 2009-2011. It says that estates of decedents with assets worth more than $60,000 are required to file United States Estate (and Generation-Skipping Transfer) Tax Return,...

  • CHAPTER 11: Wills and Estate Planning. Irving, Shae // Nolo's Encyclopedia of Everyday Law;Dec2013, p245 

    The article offers an overview of the key legal issues concerning wills and estate planning in the U.S. It explains the coverage of estate planning, which includes minimizing probate court costs and estate taxes, appointing people to handle medical and financial affairs, and conveying wishes...

  • Planning Beyond the Galaxy of Exemptions. Kestenbaum, Avi Z.; P. O'Reilly, Mary // Trusts & Estates;Jan2014, Vol. 153 Issue 1, p26 

    The article discusses U.S. estate planning (EP) in relation to federal gift, estate, and generation-skipping transfer (GST) tax exemptions for individuals and married couples under the American Taxpayer Relief Act of 2012 (ATRA). Portability and elder law in America are addressed, along with...

  • And, The Winner Is... Hartz, Michael O.; Opferman, Thomas G.; Redd, Charles A. // Trusts & Estates;Jan2013, Vol. 152 Issue 1, p60 

    The article discusses the impact of the 2012 American presidential election results on estate planning strategies as of January 2013, focusing on an analysis of U.S. President Barack Obama's re-election and its influence on estate and gift taxes in America. Generation-skipping transfer taxes...

  • Estate planning in transition. Herbold, Erin // Wallaces Farmer;Feb2011, Vol. 136 Issue 2, p43 

    The article offers updates on the federal estate tax legislation in the U.S. in 2011. It highlights the passage of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 in the Congress which reinstate the tax for people who died in 2010 at an exclusion level of five...

  • Correction:.  // Trusts & Estates;Feb2013, Vol. 152 Issue 2, p2 

    A correction to the article "And the Winner Is..." in the January 2013 issue is presented which discusses U.S. taxation related to estates, gifts, and generation-skipping transfers.

  • Estate Planning in Decoupled States Post-ATRA. Steiner, Bruce D.; Shenkman, Martin H. // Trusts & Estates;Aug2013, Vol. 152 Issue 8, p13 

    The article discusses federal estate taxes and estate planning in U.S. states which have been decoupled in the wake of the U.S. Congress' passage of the American Taxpayer Relief Act of 2012 (ATRA). Other topics include state estate taxes, capital gains taxes, and a generation-skipping transfer...

  • Judicial Guidance to Trust Reformation Under IRC Section 2055(e)(3). Englebrecht, Ted D.; Wei-Chih Chiang // CPA Journal;Oct2010, Vol. 80 Issue 10, p50 

    The article discusses trust reformation in a decedent's will based on Internal Revenue Code section 2055(e)(3), in which the portion for charitable beneficiaries can get a charitable deduction. In cases of a split-interest transfer of property, the remainder interest of the charitable...

  • Defined Value Clauses--Better Defined. Bowman, Scott A. // Trusts & Estates;Feb2010, Vol. 149 Issue 2, p14 

    The article explains the expanded use of defined value clauses for certain transfer tax planning strategies in estate planning as a result of the U.S. Tax Court decision on the case Estate of Christiansen and Estate of Petter v. Commissioner. The author argues that defined value clauses have...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics