News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
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News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
Client Alert 24 Feb. 2022
EU, UK, Japan and Australia Impose Sanctions on Russia
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
News 06 May. 2022
Curtis Advises Terna Group on the Sale of its Latin America Power Transmission Assets to CDPQ
Publications 05 May. 2022
Marie-Claire Argac, Simon Batifort, and Cyprien Mathié share highlights from “Affaires d’Etats: Practical Considerations When Defending States in International Arbitration” on Kluwer Arbitration Blog
Event 26 Apr. 2022
Claudia Frutos-Peterson Speaks at CAI Costa Rica’s 13th Congress of International Arbitration
News 21 Apr. 2022
SCOTUS Upholds U.S. Colonialism under the U.S. Constitution
Client Alert 23 Mar. 2022
The Dubai International Arbitration Centre (DIAC) has launched the DIAC Arbitration Rules 2022
Event 22 Nov. 2021
Partner Antonia Birt spoke at ADGMAC and AIAC Webinar Series: Webinar 5 - Disputes in Fintech and Complex Technology in MESEA
News 16 May. 2022
Curtis Files SCOTUS Amicus Brief for Ohio Justice & Policy Center in Prisoners’ Rights Case
News 10 May. 2022
Juan Perla’s Argument in D.C. Circuit Featured on Audio Arguendo Podcast
Client Alert 21 Apr. 2022
New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program
Client Alert 19 Apr. 2022
U.S. President Biden Expands Export Controls Imposed on Russia and Belarus
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Client Alert 25 Sep. 2020
Arguably, year-end estate planning in 2020 is more important than ever before. Between market volatility brought on by the COVID‑19 pandemic, uncertainty about future asset values, historically low interest rates, recent changes to the rules regarding retirement accounts and potential tax changes that could result from the upcoming election or budgetary considerations, there are a myriad of reasons to focus on estate planning before the end of this year.
In particular, there is significant uncertainty as to whether there could be changes to the federal estate and gift tax exemption next year. As of now, the exemption amount is $11.58 million per U.S. person in 2020, adjusted annually for inflation. Without any further legislative action, the exemption amount is scheduled to decrease to $5 million per person in 2026, adjusted for inflation annually. This does not include any applicable state gift or estate taxes.
However, some politicians have called for a return of the estate and gift tax exemption to its historic norm. While it is currently unclear what this means, the 2001 exemption amount was $675,000. The exemption steadily increased from 2002-2009 to $3.5 million and after a brief repeal in 2010, the estate tax was reinstated in 2011 with a $5 million exemption, adjusted for inflation annually, and then increased again to $10 million, adjusted for inflation, in 2018.
Depending on the results of the election in November, the exemption could be reduced dramatically as soon as January of next year.
Thus, now is the time to consider year-end planning, including the possibility of making significant gifts to family members or trusts for their benefit. Transfers into trust can be made in such a way so that the donor still retains significant flexibility and controls, while also preserving the tax objectives.
Curtis would like to cordially invite you to attend our upcoming webinar, Estate Planning in Uncertain Times, on October 15, 2020 at 10:00 AM Eastern Standard Time, in which Curtis’ Trusts and Estates team will discuss several planning techniques for high net worth individuals to be considered now, given the current political, economic and low interest rate environment. This is a timely presentation, as some of these opportunities may disappear or be diminished at the end of the year.
Please reserve your spot for this Zoom webinar in advance through this link.
After registering at the above link, you will receive a confirmation email containing information about joining the meeting. For those who need it, U.S. CLE credit will be provided.
Trusts and Estates
Private Client
Tax
Robert W. Sheehan
Partner
Michael S. Schwartz
New York
+1 212 696 6000
Publications 03 May. 2022
Simon Batifort and Belén Ibañez Publish “Unearthing FET: What Did States Intend, and Does It Matter?” on Kluwer Arbitration Blog
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