James A. Lamm

Individuals who create or own valuable intellectual property face unique challenges in estate planning that traditional strategies may not adequately address. For authors, artists, musicians, entrepreneurs, inventors, software developers and other creators, intellectual property could represent a substantial portion of their net worth, and these assets may include complex ownership structures, valuation considerations, tax implications and succession requirements that demand careful attention.

As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information that may be helpful as you consider planning options for 2022. Because Congress could pass legislation that changes this information during the year, you should contact your estate planning attorney for advice prior to taking any transfer tax planning action.

Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.