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
Based upon the especially heavy questioning directed at the appellant during the recent oral argument in Estate of Powell v. John C. Wunsch, P.C., the Illinois Supreme Court seems to be contemplating holding that counsel who...more
Clients often come to me for their first estate plan because they have recently had a child. Many clients think that estate planning is unnecessary unless they have won the lottery or have had a child. Not true. If I...more
One of the most vexing tax issues remaining unresolved since the 1986 enactment of the passive loss (PAL) rules is whether business or rental income earned by a trust can be active income and whether business or rental losses...more
Delaware has a rich history of providing guidance and innovation in corporate law and trust matters and to that end has become a jurisdiction of choice for the creation and migration of trusts. Recently, Delaware's Court of...more
The revenue portion of the recently passed Executive Budget for 2014–2015 significantly changes New York’s estate tax and the way in which New York taxes the income of certain trusts.
New York has recently passed new laws that significantly reform its current estate, generation-skipping transfer (GST) tax and income tax scheme. This Private Client Group Client Alert provides a brief overview of New York’s...more
In this Newsletter:
- Before You Start a Business . . .
- Estate Planning—Powers of Appointment
- Public Use Required for Eminent Domain
- Tax-Free Gains from Home Sales
New York’s recently passed legislation, effective April 1, 2014, significantly changes its estate tax regime and income tax regime for certain trusts. This Alert discusses the implications of this legislation....more
When a trustee is sued for breach of trust and claims against his professional indemnity insurers, questions often arise as to the extent to which the trustee must first pursue any other rights of indemnity (for example...more
There continue to be an increasing number of offshore Court judgments considering the nature and extent of an offshore trustee’s liability to third parties (including third parties in foreign jurisdictions), and the rights of...more
Recent years have seen a dramatic increase in the number of Private Trust Companies (“PTCs”) established by wealthy families. PTCs are used to consolidate the trustee function of multiple trusts within a family, and because...more
As we noted in our recent client alert, New York Governor Andrew Cuomo announced in January that he would introduce legislation intended to reduce the estate tax incentive for New Yorkers to move out of the state shortly...more
Today is a day that, until recently, I wasn't aware had any independent significance other than being April 16. However, April 16 is – and has been for the past seven years – National Healthcare Decisions Day. ...more
On April 1, 2014, New York Gov. Andrew M. Cuomo signed into law the Executive Budget for 2014-2015, which includes significant changes to the state’s estate and gift tax regimes, as well as changes to the income taxation of...more
In This Issue:
- Congressman Camp Camp Releases His Long-Awaited Tax Reform Plan
- Tax Court Addresses Valuation Issues Related to Tax on Built-In Corporate Gain
- Shareholder of S Corporation Required to Include...more
There have been a number of cases decided recently by offshore Courts (particularly in Jersey and Bermuda), in which the Courts have had to consider the scope of their jurisdiction to determine disputes relating to trusts...more
While workers’ compensation claims involving traumatic or repetitive injuries may be fairly straightforward, claims involving occupational diseases are often complicated. The Illinois Workers’ Occupational Diseases Act gives...more
Over the course of the last century, the number of U.S. residents over the age of 65 has increased 11-fold, and according to the U.S. Census Bureau, the median age of our population is expected to continue to rise....more
A frustrated son recently wrote into a well-known advice columnist, lamenting the fact that his father refused to create a trust based estate plan or even a will that would designate how his property and various businesses...more
On April 1, 2014, the New York state 2014–2015 budget (the "Budget") became effective. The Budget includes legislation (the "Budget Legislation") that makes several significant changes to New York's estate tax regime and to...more
My neighbor, Carey Colt Payne, was telling me about his new website on laws pertaining to the ownership and transfer of firearms. Carey is a highly respected probate attorney in Las Vegas who is a descendant of the famous...more
Imagine the following scenario: The trustee of a revocable trust dissipates a substantial amount of trust assets to buy men’s basketball season tickets at the Dean E. Smith Center. The settlor does not follow college...more
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
No matter how much time is invested in designing an estate plan, one’s efforts will be for naught if his or her family can’t find essential documents in case of death or incapacitation. This article offers several tips for...more
The last year was filled with speculation in the New York estate planning community that the 2014 State budget bill would result in significant changes to New York’s long standing estate and gift tax laws. The Governor...more
Find a Wills, Trusts, & Estate Planning Author »
Back to Top