TAX REFORM: Federal Gift, Estate and Generation-Skipping Transfer Taxes - No Permanent Repeal, but Double Exemptions Create Significant Planning Opportunities

December 29, 2017

On December 22, 2017, President Trump signed into law new tax legislation (the “2017 Tax Bill”). The 2017 Tax Bill makes sweeping changes to the U.S. tax code, including a reduction in corporate tax rates, significant changes to the taxation of individuals, a repeal of the Affordable Care Act’s “individual mandate,” and a number of other changes.

This update focuses on how this law affects individuals from an estate planning and transfer tax perspective, including charitable gift planning, income taxation of trusts and estates and asset transfers generally.

Read "TAX REFORM: Federal Gift, Estate and Generation-Skipping Transfer Taxes - No Permanent Repeal, but Double Exemptions Create Significant Planning Opportunities."