Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
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
Fiduciaries, like trustees and conservators, may face personal liability for wrongful acts in administering estates. Among the liabilities that a fiduciary may face is to the IRS for wrongful distributions such as those made...more
There may have been a time when inheriting an unreported offshore financial account was not problematic; but not today. The executor/trustee of the estate of the decedent has fiduciary responsibility to IRS and faces personal...more
A particular mixture of a federal tax lien, a transfer of tenancy by entireties property during lifetime, and the federal claims statute resulted in personal liability to the executors of the estate of a surviving spouse for...more
In This Issue:
- November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
- Keller v. United States, 5th Cir., No. 10-41311 (09/25/12)
McGovern & Greene's Advocate's Edge publication provides attorneys and their clients with valuable resource guides that offer information related to litigation issues....more
Fiduciaries (trustees, executors, personal representatives) normally are not personally liable for the obligations of the trusts and estates they administer. As mentioned here previously, a major exception to this is the...more
In a recent U.S. District Court case, transferee liability statutes were favorably interpreted to avoid transferee liability to trust beneficiaries. However, the fiduciaries were unable to rely on a contribution agreement...more
In a recent federal income tax collection case, the trial court discusses the reasons why an asset protection trust failed to protect assets of a taxpayer from a tax levy. The court in Evseroff found that all the assets of an...more
We are holding a Complimentary Business Succession Seminar on September 29th, 2011 at the Hilton Hotel in Mesa (U.S. 60 and Alma School Road) from 4:00 to 5:30 PM, to help business owners turn their dream of succession into...more
One pressing area in which clients
are increasingly seeking feedback
from their accounting and financial
advisory team is Asset Protection.
Part of that stewardship is making
sure that the growth and savings
Multiple member limited liability companies (“LLCs”) can be very useful tools for achieving asset protection . For this reason, individuals sometimes consider transferring their primary residence into an LLC. ...more
This article provides the business owner with indespensible guidance on selecting the appropriate business entity....more