Polsinelli Podcast - Getting the Most Out of Your Estate Planning in 2014
The Greatest Gift: Your Individual + Family Estate Plan
The 2010 Tax Relief Act and your estate plan
Are your estate planning documents protecting your assets?
Same-Sex Marriage Cases in 90 Seconds
Should you Opt-Out of the Voluntary Disclosure Program?
Death and Foreign Asset Disclosure. What you don't know can cost you…a lot
Safeguard Your MVA: Devising a Business Succession Plan that will Preserve your Most Valuable Asset
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
Increasingly, several generations of American families are living together. According to a Pew Research Center analysis of U.S. Census data, more than 50 million Americans, or almost 17 percent of the population, live in...more
If you are worried that disappointed heirs could contest your will or trust after you die, one option is to include a "no-contest clause" in your estate planning documents. A no-contest clause provides that if an heir...more
There have been important new developments for New York taxpayers over the past two months, some of which may require your immediate attention. ...more
In this issue:
- A Look Behind the OIG’s Work Plan
- Do You Need an Estate Plan?
- Same-Gender Marriage Implications for Employee Benefit Plans
- New Child Abuse Reporting Law Gets Tough
On Tuesday, March 4, 2014, the Obama administration released its FY15 Budget. At the same time, the Treasury Department issued its accompanying “Green Book” that describes various changes in tax law and the resulting revenue...more
Under Proposed changes to New York's Estate, Gift and Generation-Skipping Transfer Tax Rules, There Are Advantages to Making Gifts Before April 1, 2014
New Yorkers may have an unusual opportunity to make tax-favored...more
Important legislation has been introduced by New York Governor Andrew Cuomo that, if passed, would substantially change the New York estate tax regime and would also significantly change the income tax rules regarding certain...more
Miami is a hot bed for start-up businesses and entrepreneurs, and is one of the most innovative business communities in the country. It’s certainly no surprise, seeing as Florida is ranked the #2 state to do business in, due...more
QUESTION: Should receivers appear only through counsel to avoid civil liability?
ANSWER: In Re Shattuck, 411 B.R. 378 (10th Cir. BAP 2009), which held that a receiver, who is not a lawyer, cannot appear in federal...more
Although property obtained by a debtor after filing for bankruptcy is usually safe from creditors, a recent case from the Ninth Circuit Bankruptcy Appellate Panel allowed a Chapter 7 Trustee to sell real property obtained by...more
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
If Governor Cuomo’s proposals are enacted, New Yorkers and non-residents with property located in New York may be facing new taxes this April Fools’ Day.
- New York Estate Tax First, the good news — under the...more
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
What you need to know:
Recent audit statistics show that federal estate tax returns are facing increased scrutiny from the IRS....more
The law’s good faith principle has traditionally regulated legal relationships, such as the contractual relationship. Equity’s more intense fiduciary principle has generally regulated equitable relationships, such as the...more
According to a February 21, 2014, news release, Facebook has made two updates to its policies regarding the accounts of deceased users.
Previously, Facebook allowed one of two options for a deceased user’s account. ...more
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
Joint bank accounts can provide that the survivor of the joint owners is entitled, by right of survivorship, to the balance left in the account upon the death of the other joint owner. But will this actually occur?...more
"Hello Jake, I hate to tell you this but we can't ship your order this week. One of our key suppliers is holding us up."
Originally Published in the Grand Rapids Business Journal - February 14, 2014. ...more
As the April 15th filing deadline approaches, there are important changes to note. When the U.S. Supreme Court struck down the Defense of Marriage Act (DOMA) on June 26, 2013, a number of important tax issues were raised...more
A city administrator-turned-elected city council member believed his retirement benefits would be based on his highest salary multiplied by all his years of service, including his years on the city council; however CalPERS...more
The following are select tax topics affecting individuals and businesses for tax year 2013.
Top Tax Rates:
Single filers with taxable incomes exceeding $400,000 ($450,000 for married...more
As I mentioned in Part 1 of this article, a recent extensive survey indicated that most Americans have no estate plan at all. Part 1 dealt with planning for the immediate concern after one’s death: disposition of your...more
In many non-judicial foreclosure jurisdictions, a foreclosure is generally considered concluded when the foreclosure trustee conveys the property to the purchaser. Though this is true from the purchaser’s perspective, the...more
One can always tell when an election year is upon us. Maryland Republican lawmakers resume their quest to eliminate or severely curtail Maryland’s Estate Tax and Inheritance Tax and their Democratic counterparts oppose it. ...more
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