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From: Richard Kahn
Sent: 1/3/2018 11:00:51 PM
To: jeffrey E. [jeeyacation@gmail.com]
Subject: Fwd: Ruberto, Israel & Weiner Trusts & Estates Alert: Estate Planning After the Enactment of the Tax Cuts and Jobs
Act
Importance: High
Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
tel
fax
cell
Begin forwarded message:
From: "Ruberto Israel & Weiner" <info@riw.com>
Subject: Ruberto, Israel & Weiner Trusts & Estates Alert: Estate Planning After the Enactment
of the Tax Cuts and Jobs Act
Date: January 3, 2018 at 4:02:49 PM EST
To:
Reply-To: infoRriw.com
January 2018
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Estate Planning After the Enactment of the Tax Cuts
and Jobs Act
On December 22, 2017, President Trump signed the "Tax Cuts and Jobs
Act" into law. The new legislation represents a compromise between
House and Senate Republicans on their respective tax overhaul
proposals, and is the most significant tax reform legislation to be
enacted in over thirty years. Although the inherent complexities of the
new legislation, combined with the whirlwind pace of its passage, poses
many questions for analysts and tax practitioners alike as they begin to
navigate the new tax system, we do have an understanding of what the
new law will mean for high net worth individuals interested in advancing
their estate planning goals.
Most of the provisions of the Tax Cuts and Jobs Act (the "Act") became
effective on January 1st, and will sunset (or default to prior law) after
December 31, 2025, absent further congressional action. In addition to
extensive income tax related changes, including modifications to the
individual and corporate income tax rates, doubling of the standard
income tax deduction, capping of the state and local tax deduction,
elimination of the personal income tax exemption, increase in the
exemption for the alternative minimum tax, and decrease in the
mortgage interest deduction, the Act temporarily doubles the federal
estate, generation-skipping transfer ("GST") and gift tax exemption
amounts, thereby offering high net worth families enhanced planning
opportunities.
Full Alert
=
Deborah Pechet
Quinan
Chair, Trusts &
Estates Group
dpq@riw.com
Bill Friedler
bnf@riw.com
This article was co-authored by Deborah Pechet Quinan and Deborah Qualia Howe.
Deborah Pechet Quinan is the Chair of RIW's Trusts & Estates Group. Deborah can be
reached at dpq@riw.com or 617-742-4200.
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For a full description of our Trusts & Estates Group and a list of all of our practice areas,
visit www.riw.com or contact any attorney in our T&E Group.
Deborah Pechet Quinan, Chair, Trusts & Estates Group, Shareholder
dpq@riw.com
Bill Friedler, Shareholder
bnf@riw.com
Catherine Barton Rossetti, Associate
cbr@riw.com
Deborah Qualia Howe, Of Counsel
dqh@riw.com
Jayne Mahoney, Paralegal
ilm@riw.com
Michele Orchanian, Paralegal
mao@riw.com
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This summary is presented for informational and educational purposes only, does not constitute legal advice, and
cannot be used for the purpose of avoiding tax penalties. Use of this summary does not create an attorney-client
relationship and is not a substitute for legal counsel.
©2018 Ruberto, Israel & Weiner, P.C.
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