The President signed the One Big Beautiful Bill Act (the “OBBBA”) into law on July 4, 2025. The OBBBA extends certain tax provisions implemented by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) and amends others. Various provisions of the OBBBA add certainty to existing estate planning methods and create new opportunities. Many […]
The legal profession stands at a pivotal moment as the National Conference of Bar Examiners (NCBE) prepares to roll out the NextGen Bar Exam beginning July 2026. For those engaged in trusts and estates, the ramifications of this shift extend well beyond the confines of legal education—they touch the very pipeline of practitioners and, ultimately, […]
FILING REQUIREMENT REVISED PER INTERIM FINAL RULE FinCEN has issued an interim final rule clarifying its position with respect to enforcement of the CTA. U.S. domestic reporting companies and U.S. domestic persons are not required to file, though international reporting companies are so required and new deadlines have been set for them. The interim final […]
Linda Ravdin has retired from the practice of law at the end of 2024 after a 50-year career. She hung out a shingle (not literally; she worked from the lawyers’ lounge at D.C. Superior Court) as soon as she passed the bar and began taking court-appointed criminal defense work. Later she switched to family law. […]
Marital agreements – premarital, postmarital, and marital separation agreements – generally provide for the rights of a surviving spouse and, in many cases, for the rights of a surviving former spouse. Parties negotiating such an agreement may find it useful to incorporate provisions for a trust to hold assets for the benefit of a surviving […]
Many states provide tools for changing an “irrevocable” trust, and with the enactment of the Maryland Trust Decanting Act, Maryland lawmakers have provided another tool to improve irrevocable trusts in Maryland, but not without limitations. I. What does it mean to “decant”? Just as one might filter out impurities in wine via decanting, a trustee […]
The federal estate/gift tax exemption amount and the generation-skipping transfer (GST) tax exemption amount are both $13.61 million for 2024 (a $5 million base exemption, doubled in 2017 to $10 million and indexed for inflation). Under current law, this figure will become $13,990,000 on January 1, 2025, but it is scheduled to drop significantly on […]
Micah Snitzer became a partner in the firm’s Estate Planning and Administration Group in early 2024, having joined the firm as an associate in 2014. He handles a wide range of estate planning matters, working with individuals and families to prepare wills, trusts, healthcare directives, and powers of attorney. He particularly likes the advisory role, […]
