Finance & Banking Wills, Trusts, & Estate Planning Tax

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Wealth Management Update - April 2014

April Interest Rates Hold Steady for GRATs, Sales to Defective Grantor Trusts, and Intra-Family Loans. The April applicable federal rate ("AFR") for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

A family bank professionalizes intrafamily lending

Too often, people lend money to family members with little planning and regard for potential unintended consequences. But a “family bank” can enhance the benefits of intrafamily loans, while minimizing the risks. A family...more

Offshore Disclosure: What Needs To Be Disclosed? A Checklist

The following is a list of questions that should lead to the discovery of offshore assets, whether properly reported or not. If you answer yes to any of these questions, then you may have filing obligations and should seek...more

U.S.Tax Court Decision May Allieviate The 3.8% Net Investment Income Tax Burden For Many Trusts

Because trusts are subject to the 3.8% Net Investment Income Tax at a very low income level, $12,150 for 2014, trustees of trusts owning interests in operating entities have been considering ways to meet the material...more

McNees Insights - Estate Planning

In This Issue: Who Gets Your IRA? – Six Common Mistakes; Estate Planning for Digital Assets; and Post-Production Issues and Oil & Gas Leases. Excerpt from Who Gets Your IRA? – Six Common Mistakes: Do you...more

Wealth Management Update - March 2014

March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Tax Court Rules on Built-In Gains Discount and Appraiser Qualification

On February 11, 2014, the United States Tax Court issued a memorandum opinion (i) determining the proper method for valuing a holding company (i.e., an S or C corporation holding marketable securities or appreciated...more

"The Estate Planner" – March/April 2014

In this issue: - Private Annuities Can Offer Big Tax Savings - 5 Tips For Donating Artwork - A Successful Family Business Requires Strong Governance - Estate Planning Red Flag – You Haven’t Planned...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update (February 24, 2014)

This is a brief update on recent Pennsylvania tax developments. It is intended to provide an overview of issues and cases to watch, as well as administrative and legislative developments....more

2014 Tax Update Letter

Dear Clients and Colleagues, This letter is an update on the most recent gift and estate tax developments, including new provisions applicable to same-sex couples, and presents our current thinking regarding wealth...more

Employee Benefits Developments - January 2014

CASES - Court Finds Former NFL Player’s First Wife Is Surviving Spouse - A recent decision by the U.S. Court of Appeals for the Third Circuit demonstrates once again the importance of divorcing your first spouse...more

Q&A With Bilzin Sumberg's Richard Goldstein

Richard M. Goldstein is chairman of the tax and wealth preservation group in Bilzin Sumberg Baena Price & Axelrod's Miami office and represents numerous family businesses, U.S. residents and nonresident aliens, multinational...more

Americans Living Abroad Feel Impact of FATCA

According to some international financial experts, recently implemented American tax rates and policies may cause more Americans living abroad to renounce their U.S. citizenship. A recent conference in Israel on the subject...more

Wealth Management Update - January 2014

January Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The January § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Plan sponsors should take stock of all plan amendments

I didn’t have such a wonderful time at law school because I felt the administration and much of the faculty weren’t honest when it came to the study of law and more importantly, our job opportunities. There was one law...more

Council of EU Publishes UK Issues Paper on MLD4

On November 24, the Council of the European Union published a note (dated November 8, 2013) from the Council Presidency to Council Delegations which includes a UK issues paper on the fourth Money Laundering Directive (MLD4)....more

Have You Told The IRS That Your “Responsible Party” Has Changed?

Beginning on January 1, 2014, any entity with an employer identification number (EIN) issued by the Internal Revenue Service (IRS) must report a change in the identity or address of its “responsible party” within 60 days of...more

Smarter Ways to Make Year-End Charitable Gifts

One way you can make a year-end charitable gift is to write a check to the charity and take a charitable deduction on your income tax return. The problem is that you're using “after tax dollars” to make the gift....more

1031 Exchanges with a Twist

Now that the recession appears to be fading into memory, Section 1031 Exchanges are on the rise. Section 1031 of the Federal Tax Code allows property owners to defer taxes by exchanging the sale property into one or more...more

Sale For Annuity Results In §2036 Inclusion

In a recent Tax Court case, a decedent had sold properties to trusts in exchange for fixed annuity payments. The decedent died during the term of the annuities, and the IRS sought to include the value of the transferred...more

Wealth Management Update - November 2013

Federal Exclusion from Gift, Estate and Generation-Skipping Transfer Taxes Increases to $5,340,000 in 2014 - In Revenue Ruling 2013-35, the IRS announced certain inflation adjustments to tax exemptions and deductions....more

Wealth Management Update - October 2013

The October § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.4%. This is up from September's 2.0% rate. The applicable federal rate ("AFR") for use with a sale to a defective...more

Financial Services Quarterly Report - Third Quarter 2013: Recent Developments in the Hong Kong Funds Industry

The Hong Kong Government has been keen to demonstrate its willingness to evolve and focus its efforts on the overall growth of the Hong Kong financial services industry. Recent proposals to make fund-friendly changes to Hong...more

Joint And POD Accounts: Weapon of Choice Of Transferees When Exerting Undue Influence?

Joint And POD Accounts: Weapon of Choice Of Transferees When Exerting Undue Influence? by James F. McDonough, Jr. on October 1, 2013 Will contests alleging undue influence are not uncommon. A will was, for many years,...more

Projected 2014 Inflation-Adjusted Figures

The IRS will issue inflation-adjusted transfer tax and foreign reporting items for 2014 based on fiscal year 2013 inflation, but it hasn’t done so yet. Thomason Reuters does its own computations of what it estimates will be...more

268 Results
|
View per page
Page: of 11

Follow Finance & Banking Updates on: