7520 Rate for May 2018

Unchanged The 7520 rate is unchanged from April. For May 2018, the 7520 rate will be 3.2%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence Trusts (QPRTs), Charitable Remainder Annuity Trusts (CRATs), and Charitable Lead Annuity Trusts (CLATs). Source: Rev. Rul. 2018-12 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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7520 Rate for April 2018

Another increase. The 7520 rate has increased again. For April 2018, the 7520 rate is 3.2%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence Trusts (QPRTs), Charitable Remainder Annuity Trusts (CRATs), and Charitable Lead Annuity Trusts (CLATs). Source: Rev. Rul. 2018-09 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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2018 Federal Income Tax Rates: Estates and Trusts

These numbers will be adjusted annually for inflation based on the chained consumer price index (C-CPI-U). For more on the Tax Cuts and Jobs Act, click here. Source: Joint Explanatory Statement of the Committee of Conference, p. 13 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS  

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SLATs: When the Beneficiary Spouse Dies Before the Grantor Spouse

Consider adding a testamentary limited power of appointment to make SLATs more effective.

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Effect of Last Will’s Revocation on Earlier Will

Under Tennessee law, does revocation of a last will and testament automatically reinstate the immediately preceding last will?

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Keeping Real Estate Purchases Private

For reasons of privacy and asset protection, clients sometimes seek to conceal or obscure their ownership of real property. Tennessee law, however, does not make it easy to do so.

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Grantor as Chief Manager of Family LLC

Retaining control of a family limited partnership or family limited liability may create trigger estate tax consequences.

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March 2018 7520 Rate Announced

The 7520 rate continues to tick up. For March 2018, the 7520 rate will be 3.0%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence Trusts (QPRTs), Charitable Remainder Annuity Trusts (CRATs), and Charitable Lead Annuity Trusts (CLATs). Source: Rev. Rul. 2018-06 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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Is a Trust Protector a Fiduciary under Tennessee Law?

Yes, generally, but it does not have to be. 

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Trust Protectors in Tennessee: The Basics

Trust protectors (also known as trust advisors) are becoming a common feature of irrevocable trusts. But what is a trust protector? 

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New IRS FAQs Address 2017 Roth Conversion Concerns

The IRS has issued new guidance on recharacterization of Roth conversions, and it is good news for taxpayers who converted in 2017.

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February 7520 Rate: Another Increase

The 7520 rate for February 2018 will be 2.8%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence Trusts (QPRTs), Charitable Remainder Annuity Trusts (CRATs), and Charitable Lead Annuity Trusts (CLATs). Source: Rev. Rul. 2018-5 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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529 Plans: Not Just for College Anymore

Starting in 2018, 529 plans can be used to pay tuition expenses for elementary and secondary schools, thanks to the Tax Cuts and Jobs Act.

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Charitable Giving Under the Tax Bill

The Tax Cuts and Jobs Act includes three provisions related to charitable giving.

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No Change in Jan. 2018 7520 Rate

The 7520 rate for January 2018 will be 2.6%. A chart showing historical rates since 2008 is here. Source: Rev. Rul. 2018-1 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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Estate Tax under the Tax Bill

If the Tax Cuts and Jobs Act passes, the number of estates subject to the death tax is about to get even smaller, at least temporarily.

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Last Chance for Risk-Free Roth Conversions

The rules will change–and not for the better–in 2018, assuming the Tax Cuts and Job Act passes.

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Contract Wills

Is a contract to make a will enforceable under Tennessee law?

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Selecting Your Executor

When a family member dies, the person selected as the executor of the estate is often one of the largest causes of family discord.

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7520 Rate Will Rise Slightly in December

The 7520 rate for December 2017 will rise to 2.6%. A table showing historical 7520 rates since 2008 is here. Source: Rev. Rul. 2017-24 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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Handwritten Modifications to Revocable Trust Deemed Invalid

In a recent case, the Tennessee Court of Appeals found that a settlor failed in her do-it-yourself approach to estate planning.

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Distribution from Donor Advised Fund to Private Foundation

Technically, it is possible, but there would be some significant strings attached.

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Estate and Gift Tax Exemptions Will Rise in 2018

The IRS recently announced inflation adjustments to various estate and gift tax items for 2018.

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2018 Retirement Plan Contribution Limits

The IRS recently announced the 2018 contribution limits for retirement plans.

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7520 Rate for Nov. 2017

The 7520 rate for November 2017 will be 2.4%. A table showing historical 7520 rates since 2008 is here. Source: Rev. Rul. 2017-21 (pdf) Posted by Joel D. Roettger, JD, LLM, EPLS

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