Continue Reading Uncertainty, COVID-19, and Estate Planning: A Unique Opportunity to Plan

On June 21, 2019, in a unanimous decision, the U.S. Supreme Court held as unconstitutional a North Carolina statute that had been interpreted by North Carolina to mean that a
Continue Reading Effect of Kaestner on Non-California Trusts With California Beneficiaries

IRS announces the 2019 inflation-adjusted figures for gift and estate tax exemption amounts.

The federal gift, estate, and GST exemption amount ( the exemption amount) is the total amount
Continue Reading Federal Individual Gift, Estate, and GST Exemptions Increase to $11.4 Million in 2019

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month
Continue Reading Applicable Federal Rates and Code Section 7520 Rate for November 2018 – Trending Up

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service
Continue Reading Applicable Federal Rates and Code Section 7520 Rate for September 2018 – Trending Up Again

The applicable federal rates (AFRs) under Internal Revenue Code (Code) Section 1274(d) and the Code Section 7520 rate (7520 rate) for a particular month are published by the Internal Revenue Service (IRS) in a Revenue Ruling that is released around the 18th day of the immediately preceding month. Advance knowledge of the rates for the future month provides a window of opportunity for the quick or delayed implementation of income, gift, and estate-tax planning techniques in response to upward or downward trends. The effective implementation and management of interest-sensitive estate planning techniques also involves numerous other factors in addition to the relevant AFR or 7520 rate, including a client’s particular circumstances and should be undertaken with the advice of competent tax counsel and financial advisors.

The IRS has issued Revenue Ruling 2018-19, which provides the AFRs and 7520 rate for July 2018. Revenue Ruling 2018-19 will be in Internal Revenue Bulletin 2018-27, dated July 2, 2018.


Continue Reading Applicable Federal Rates and Code Section 7520 Rate for July 2018 – Upward Trend Continues