The Implications for Wealth Transfers From U.S. Debt Downgrade

17 August 2011 Publication

The Wealth Manager

Foley Partner Gregory Monday and Senior Counsel Wendy Rusch authored an article that appeared in The Wealth Manager on August 17, 2011 titled "The Implications for Wealth Transfers From U.S. Debt Downgrade." The authors discuss how Standard & Poor’s (S&P) downgrade of the U.S. credit rating may affect intra-family transactions, specifically noting that many estate tax planning and business succession techniques involving family wealth transfers are enhanced by the current low Applicable Federal Rates (AFRs), which have the potential to increase following the S&P downgrade. They add that a combination of the increased gift tax exclusion, near record-low AFRs and depressed asset values have combined to create an ideal tax environment for lifetime wealth transfers.

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