Tax Law, Finance & Banking, Family Law

January 2013 HNW Case Study

by InKnowVision on 1/11/2013

Chris is 68 and Beth is 59. Chris has recently just retired from an executive position in a public company. They have always led a relatively simple and conservative lifestyle and as a result have built up a very significant,...more

FBAR-The New Marriage Penalty

by Sanford Millar on 1/7/2013

For those U.S. taxpayers who are married to non-residents there is a new form of marriage penalty if the spouses filed joint returns. To be eligible to file joint returns an election must be made with the first joint return...more

Insight on Estate Planning - Year End 2012

by Adler Pollock & Sheehan P.C. on 12/6/2012

In This Issue: - The spousal lifetime access trust: A safety net in uncertain times - Be prepared for a triggering event: If you own interests in a closely held business, consider a buy-sell agreement - Is your...more

CTFC Reinstates Family Office Exception

by Christine McKillip on 12/5/2012

On November 29, 2012, the Commodity Futures Trading Commission (the “CFTC”) released a blanket No-Action Letter providing relief from registration as a Commodity Pool Operator (“CPO”) to family offices that qualify for the...more

CTFC Reinstates Family Office Exception

by Thomas J. Handler, J.D., P.C. on 12/5/2012

On November 29, 2012, the Commodity Futures Trading Commission (the “CFTC”) released a blanket No-Action Letter providing relief from registration as a Commodity Pool Operator (“CPO”) to family offices that qualify for the...more

CTFC Reinstates Family Office Exception

by Thomas J. Handler, J.D., P.C. on 12/5/2012

On November 29, 2012, the Commodity Futures Trading Commission (the “CFTC”) released a blanket No-Action Letter providing relief from registration as a Commodity Pool Operator (“CPO”) to family offices that qualify for the...more

December 2012 HNW Case Study

by InKnowVision on 12/5/2012

James is 64, and a few years ago started up a Consulting Company (Consulting Corp) with his business partner Dave. They have acquired some lucrative contracts over the last couple of years, and after spending frugally his...more

November 2012 HNW Case Study

by InKnowVision on 11/7/2012

Tom is 83 and Jane is 76. They have two children who are both well employed and live productive and happy lives. Tom was an attorney who headed a large patent firm in Washington DC. Jane served as an expert in international...more

FBAR LIabilty and Innocent Spouse Relief

by Sanford Millar on 10/22/2012

Taxpayers who are now separated or divorced and had undisclosed foreign bank accounts may wonder if “innocent spouse relief” is available under the Bank Secrecy Act for FBAR penalties. The answer is likely no but could be...more

High Net Worth Advanced Planning Case Study

by InKnowVision on 10/3/2012

Ben and Sara are 55 and 54 respectively. They own and operate a very profitable well drilling and maintenance business. These growing annual profits have allowed them to continue purchasing significant oil and gas rights and...more

Divorce, Expatriation and International Sanctions

by Sanford Millar on 8/13/2012

A current article in the WSJ discusses the 189 U.S. citizens and Permanent Residents who formally and recently expatriated. The article implies that underlying all these expatriations lies a tax driven motive. The tax...more

Divorce Settlements With Foreign Assets; What Are The Risks?

by Sanford Millar on 7/2/2012

Many couples going through marital separations (divorce) have interests in foreign assets. Often these are dual nationals who have interests in family businesses in their country of origin, but regardless of the source of the...more

If You Hide Assets Offshore From A Spouse Be Sure To File An FBAR

by Sanford Millar on 3/19/2012

A recent Forfeiture Case was brought against a taxpayer who was hiding financial assets (almost $4.6 M) from his soon to be ex-spouse. The case, US v. $4,656,085 (http://goo.gl/7b64A) illustrates how bad divorce planning...more

Wealth Management Update -- September 2011

by Proskauer Rose LLP on 9/15/2011

IN THIS ISSUE: - IRS issues Notice 2011-76 Modifying Filing Due Date for Form 8939 and Automatic Extension Rule for Form 706 for Decedents Dying in 2010 - September Interest Rates for GRATs, Sales to Defective...more

What Are Some Tax Implications of Filing Jointly for Newly Getting Married?

by Doron Eghbali on 11/22/2010

One of the factors to take into account before getting married is the status of your taxes after getting married. Some of tax questions to ponder could relate to the timing of your marriage such as the difference between...more

Estate Planning and Probate Q&A

by D. Lee Gwinn on 7/27/2010

Answers common estate planning and probate questions regarding wills, powers of attorney, life support directives, trusts, cost, and the probate process and costs....more

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Tax Law › Finance & Banking › Family Law

January 2013 HNW Case Study

FBAR-The New Marriage Penalty

Insight on Estate Planning - Year End 2012

CTFC Reinstates Family Office Exception

CTFC Reinstates Family Office Exception

CTFC Reinstates Family Office Exception

December 2012 HNW Case Study

November 2012 HNW Case Study

FBAR LIabilty and Innocent Spouse Relief

High Net Worth Advanced Planning Case Study

Divorce, Expatriation and International Sanctions

Divorce Settlements With Foreign Assets; What Are The Risks?

If You Hide Assets Offshore From A Spouse Be Sure To File An FBAR

Wealth Management Update -- September 2011

What Are Some Tax Implications of Filing Jointly for Newly Getting Married?

Estate Planning and Probate Q&A

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