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
A recent Tax Court case addressed some interesting issues relating to the estate tax value of an LLC interest. Below is a summary of these issues....more
Year-end tax planning could be especially productive this year because timely action could nail down tax breaks that won’t be around next year unless Congress acts to extend them, which at the present time, looks doubtful....more
I’ve been putting these tables together since 1990 – formerly on paper and mailed out, now on our firm’s website. Below are the updated 2014 tables with the recent inflation adjustments....more
Entrepreneurs in Miami and elsewhere are familiar with making and receiving loans as commonplace tools in the management of their businesses. One need look no further than the growth of Miami’s skyline through debt-financed...more
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
Perhaps the most significant litigation, regulatory and compliance issues facing life insurance companies can be found in the unclaimed property audits, multi-state regulatory settlements and class action lawsuits surrounding...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.
Inheritance Tax Exemption for Small Businesses -
Pennsylvania recently passed 72 P.S. § 9111(t), specifically aimed at eliminating the Pennsylvania inheritance tax on small family-owned businesses. The Pennsylvania...more
Did the estate tax change? I heard my income tax rate went up. I heard the historic tax credit was extended. These questions and many more are being asked by individual and business taxpayers in the wake of the 2013 Minnesota...more
Welcome to the Family Office Services Group's new update series "Did You Know?" It is an easy-to-read, timely and brief focus on legal issues and developments facing you and Family Offices throughout the year. ...more
In this issue:
- Creating an Effective Corporate Strategic Venture Capital Program
- "Amazing Clients: Victor Del Regno, Producer and Director of "Till Then - A Journey Through WWII Love Letters"
Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to extend them, which, at the present time, looks...more
Death and taxes, despite our best laid plans, are still with us. While trying to legally reduce your tax liability has become politically unacceptable and unfortunately, there is still not much we can do about death, there...more
On September 30, the U.S. District Court for the District of Columbia held that a HUD regulation defining conditions under which it would insure a reverse mortgage agreement, which would have made it easier for lenders to...more
I. Perpetual Calendar—Make Sure You Have Time for Reasoned Decisions—Stop trying to remember so much, reduce your stress, and avoid the risk of missing an important date. Every item that you can record onto a perpetual...more
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
Life insurance and irrevocable trusts are great tools to ease family business succession issues and mitigate exposure to shareholder oppression and disputes. Irrevocable life insurance trusts (ILIT), in particular, play an...more
In Farmers New World Life Insurance Company v. Rees (--- Cal.Rptr.3d ----, Cal.App. 2 Dist., August 30, 2013), a California court of appeal considered whether a life insurance company that delayed paying benefits to the...more
Fiduciary duty is a concept that appears across a wide variety of areas of law, so much so that most people in California will probably serve in a fiduciary capacity at some point in their lives. While the details of...more
House Bill 465, also known as Act 52, was signed into law by Pennsylvania Governor Tom Corbett on July 9, 2013. The Bill makes substantial changes to the Pennsylvania tax code as an integral part of the 2013–2014 budget....more
In This Issue:
- New Rule Proposed By OSHA Regarding Silica Exposure Likely To Impact Fracking And Increase Risk Of Litigation
- Texas Supreme Court Reaffirms Minerals Estate's Superior Rights
In this issue:
- The GRAT: A limited time offer?
- International relations: Estate planning for noncitizens
- Avoid probate to keep your estate private
- Estate Planning Red Flag – You Don’t Have...more
The Pennsylvania Inheritance Tax Act was amended recently to exempt interests in a “qualified family-owned business” from the Inheritance Tax. The goal of this exemption is to preserve certain family-owned business...more
Since 1986, Section 469 of the Internal Revenue Code has imposed limitations on the ability of most taxpayers to offset losses from activities in which they do not materially participate against wages and other non-passive...more
When you inherited the family business on Broadway in Redwood City, it was a mom and pop store with one location. Over the years, you weathered many economic storms and managed to build the business into a multi-location...more