United States: Inheritance Tax

California's tax landscape is undergoing significant changes, from new SaaS taxes and MCO levies in the recently signed state budget to a slate of high-stakes ballot measures including a proposed billionaire wealth tax. This podcast episode examines how these legislative developments and voter initiatives could reshape the state's tax policy and what stakeholders need to know heading into the 2026 ballot season.

Most business owners believe they have succession planning under control. There is a trust. There is an entity structure. There may even be a buy-sell agreement in place. On paper, everything looks orderly.

Treasury Department and the IRS established a transfer tax safe harbor for individual donors who fund these accounts, treating qualifying contributions as completed gifts that are not gifts of future interests...

Ultra-high-net-worth individuals and families face a valuation environment that is far more complex than simply determining the worth of an asset. In the context of trust, gift, and estate tax planning, valuation becomes a foundational discipline that affects wealth transfer strategy, tax efficiency, compliance, and long-term family outcomes.

Massachusetts quietly amended its estate tax statute last summer. This amendment significantly changes how the tax is calculated for non-resident decedents owning Massachusetts real estate.

With a federal estate tax rate of 40%, estate planning conversations often start and stop with the relatively high federal exemption (currently $15 million for individuals and $30 million for married couples).

President Donald Trump's massive tax-and-spending package requires attention from both individuals and estate planners to advance their estate and income tax planning objectives.

The recently enacted One Big Beautiful Bill Act has brought about significant changes to the long-term estate planning landscape by permanently increasing the federal lifetime gift, estate and generation-skipping transfer...

On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1) Public Law No: 119-21 (The OBBB Act).