
PRACTICES
Trusts and EstatesTrusts and Estates Litigation
EDUCATION
Columbia University, B.A.Harvard Law School, L.L.B.
ADMISSIONS
- New York
- California
- Florida
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Countdown to Potential 2026 Reduction of the Federal Estate and Gift Tax Exemption10/16/2024
Individuals and families owning assets in excess of $7 million are well served to revisit their estate and gifting plans in preparation for a reduction in the federal exemption occurring on January 1, 2026. In a recent article, Warshaw Burstein Partner Peter Lese outlines exemptions under the current law and advises working with an estate planning team to maximize tax savings opportunities.
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End of Year Estate Tax Planning12/12/2022
With the holiday season upon us and gifting in mind, in 2022, you can make a tax-free annual exclusion gift made of cash or of tangible assets such as stocks, real estate or shares of a family business
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2022 TRUST AND ESTATES UPDATES02/07/2022
The federal gift tax exemption amount for gifts made in the year 2022 is $12.06 million per person ($24.12 million for a married couple) up from $11.7 million in 2021. However, the exemption amount will be reduced by approximately one-half on January 1, 2026, if Congress does not act to make the higher exemption amount permanent.
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New Law Requirements for Powers of Attorney In New York State06/22/2021
Effective June 13, 2021, New Yorkers are now required to use a new power of attorney form.
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Client Alert: Tax Planning This Election Year07/22/2020
The Tax Cuts and Jobs Act of 2017 effected a number of tax changes that benefited high-net-worth individuals and businesses. With the upcoming Presidential and other elections this November, which could deliver control of the White House and the Senate to the Democrats, a number of observers have expressed concern that many of the foregoing benefits, as well as benefits that were in effect prior to enactment of the 2017 Tax Act, may be repealed.
For this reason, and because asset values are expected to increase as the recession winds down, there are a number of steps high net worth taxpayers might consider in order to take advantage of these endangered benefits. These steps include triggering income and gain this year, accelerating asset acquisitions and like-kind exchanges, restructuring foreign and domestic business operations, and gift giving. Learn more in this alert. -
Our partner Robert Wittes was quoted in the November 15 publication The Street, in an article entitled Estate Tax Planning in the Trump Presidency. Mr. Wittes provided insight as to how he would advise clients in the wake of the new administration's plan to repeal the federal estate tax. Click here to read the article in its entirety.11/15/2016 | The Street