title US estate litigation cases continue to rise article The total number of US estate lawsuits reached $6,464,988,000 today, according to a new report from the National Association of Attorneys General.
That’s a 27 percent increase from the $634,093,000 reached in 2016.
The group estimates the number of pending estate claims will grow to $2.9 trillion in 2020.
It noted the rising number of lawsuits was driven by the Trump administration’s decision to allow some of the estate-planning assets to be held in trust for the U.S. Treasury.
That decision, along with the Trump transition team’s recent executive order directing the Treasury to sell off the assets, has increased the cost of litigation, according the report.
The average amount of litigation per case in 2020 was $7,000.
That was up from $5,400 in 2016, according a report released by the AAG.
While the total number increased, the number with the most pending claims rose, from 4,854 in 2020 to 5,726 in 2021.
That rise in litigation could be partly due to the estate tax, which is now a top-priority issue for estate-law attorneys.
The estate tax is the federal estate tax on assets that have been divided among the beneficiaries of a deceased person’s estate.
A lot of assets are subject to the tax, but some estates are not subject to it.
If a beneficiary dies without inheriting the assets of the deceased, then the estate taxes the assets to the beneficiary.
But under the Trump tax plan, beneficiaries would only pay taxes on assets owned by the deceased person.
If the estate were divided among beneficiaries and then sold, the assets would be split between the heirs and the estate.
The Trump tax cut could cause some assets to go to the heirs without the estate paying any estate tax.
In a report on the impact of the Trump estate tax cut on the estate, the group said a lot of estates are “rejected because the value of the assets is less than the estate would have received if the assets were subject to a separate tax.”
The group also noted that there are no federal limits on the value that an estate can receive, meaning an estate could receive a lot more in an asset-tax-free year than it would have if it had to pay taxes separately.
The report noted that more than half of the total estates are still in litigation.
It added that the amount of estate tax claims continues to rise, and that the number is projected to grow more quickly as more assets are taxed under the estate plan.
The AAG estimates that litigation costs will reach $3.6 trillion in 2021, and will grow at a rate of 5.2 percent annually through 2024.
That would be the second-highest rate since the group started tracking litigation costs in 2020, behind only the 8.3 percent growth rate seen in the first quarter of 2021.
This story has been updated to include data on the number and size of lawsuits filed in 2021 from the AASG.