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Scott Adams practice focuses on estate planning strategies designed to minimize estate and other taxes, as well as ensure that assets left under a decedent’s will or trust for family members can be effectively and efficiently managed. In addition, Scott has significant experience in advising clients with respect to the administration of trusts and estates, and handling trust and estate litigation matters. View articles by Scott

Proposed Tax Regulations Eliminate Possibility of Clawback of Lifetime Gifts for Estate Tax PurposesAs previously posted, the Tax Cuts and Jobs Act signed into law in December 2017 (the “2017 Act”) made significant changes to the federal wealth transfer system with respect to gift and estate tax transfers during the calendar years 2018 through 2025. One of these changes was increasing the basic exemption amount that can

Update On Proposed Tax Regulations Affecting Availability of Valuation Discounts to Family Business OwnersIn September, we posted a blog discussing the Treasury Department’s issuance of proposed regulations under Section 2704 of the Internal Revenue Code (sometimes referred to as the 2704 proposed regulations) that could significantly impact the valuation of interests in family-owned businesses for estate and gift tax purposes. When first issued, there was significant discussion among

Proposed Tax Regulations Limit Availability of Valuation Discounts to Family Business OwnersFor family business owners who desire to transfer ownership of part of their business to the next generation, the valuation of the business interest is often an important factor to consider. This is especially true for family business owners with sufficient assets who are concerned about minimizing estate taxes at their deaths. Under current tax