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Schiff Hardin LLP today announced that Susan T. Bart has joined the firm’s Private Clients, Trusts and Estates Group as a partner in the Chicago office.
Donald Trump’s election has raised the question of whether the federal estate tax will be repealed. Our recommendation: Do not stop planning based on the assumption that the estate tax is going away forever, and continue to use trusts because of the long-term wealth preservation benefits they provide.
Proposed regulations released August 2, 2016 would permanently and profoundly change estate planning for families that own a controlling interest in a privately held corporation, partnership, or limited liability company.
The official inflation adjustments for 2017 will not be released by the Treasury Department until late 2016, but the expected adjustments have been calculated for certain important wealth transfer numbers.
The Internal Revenue Service (IRS) just released one of the all-time low interest rates applicable to certain wealth transfer techniques, including grantor retained annuity trusts (GRATs).