This year’s standout Tax Management Memorandum articles cover a diverse range of topics for tax professionals working with high-net-worth individuals and estate planning. From exploring post-death basis adjustments for S corporations to analyzing the impact of recent legislative changes on estate planning, these pieces offer valuable insights into complex tax and wealth management strategies.
S Corp Files—The Case To Find A Post-Death Inside Basis Step Up. What inside basis adjustments may be available when an S corporation’s owner dies holding real estate through a partnership investment is discussed. Stefanie J. Lipson of Greenberg Glusker wrote this in April. Read More.
OBBBA Changes How High-Net-Worth Clients Use Life Insurance. The GOP tax and spending package increased the federal estate tax exemption, and high-net-worth individuals now have important choices to make as to what to do with their life insurance policies. Henry Montag of The TOLI Center East wrote this in July. Read More.
California Supreme Court Clarifies Trust Amendment Standards. A California litigator’s framework for navigating exclusivity, delivery, and intent after Haggerty is presented. Holly Gilani of Frost Brown Todd wrote this in December. Read More.
PLRs Reveal Pointers for Fixing Inadvertent §2632 Elections. Postseason baseball is a metaphor for practitioners seeking relief for a late allocation or election under §2642(g)(1). Steven M. Bonneau of Northern Trust wrote this in October. Read More.
High-Net-Worth Clients Should Consider Gift Trusts By Year-End. To lock-in historically high gift and estate tax exemptions, which are set to expire at the end of 2025, high-net-worth individuals should consider establishing an optimized gift trust prior to year-end. Jonathon M. Morrison of Frazer Ryan Goldberg & Arnold wrote this in January. Read More.
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