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
In Stern V. Marshall, ____ U.S ___, 131 S. Ct. 2594 (2011), the Supreme Court held that bankruptcy courts cannot issue final judgments on state law counterclaims even though they are “core proceeding”. Stern V. Marshall is...more
While a pet may be put into a trust, its human owner may not be. Nor under traditional principles of property and trust law may the corpse of a deceased human being be made the subject of a trust. Charles E. Rounds, Jr.,...more
The Massachusetts Supreme Judicial Court recently ruled that, with few exceptions, trustees have a duty to invest with inflation in mind. While not required to follow an investment advisor’s guidance, they can’t ignore the...more
In a rare burst of bankruptcy enthusiasm, the US Supreme Court in June issued two decisions on matters important to the administration of bankruptcy cases.
In re Bellingham, decided June 9, addressed a seemingly...more
On May 20, 2014, in the case of Whitewood v. Wolf, Judge John E. Jones III of the U.S. District Court for the Middle District of Pennsylvania struck down Pennsylvania’s ban on same-sex marriages. Like many of the rulings...more
Does a closely held for-profit corporation have a constitutionally or statutorily protected right to exercise religion under the Free Exercise Clause or the Religious Freedom Restoration Act of 1993 (RFRA)? The U.S. Supreme...more
Ruling creates planning opportunities to minimize income taxes.
In Linn v. Department of Revenue, the Illinois Fourth District Appellate Court reviewed the state’s statutory framework for taxing trusts. Linn v....more
The purpose of this article is to explain the concept of “standing” in probate and guardianship actions, to discuss how the topic should be raised, and to provide some specificexamples of situations where the standing of a...more
In a four to three decision, the en banc Commonwealth Court held that a senior citizen’s estate was entitled to a rebate under the Senior Citizens Property Tax and Rent Rebate Assistance Act, 53 P.S. §§ 6926.1301-6926.1313...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
Smith v. Sunshine Sound Enterprises, Inc., USCA, 11th Circuit, January 22, 2014 -
Eleventh Circuit reverses dismissal of estate’s claims for copyright infringement, holding that songwriter who assigned his legal rights...more
A motion to strike under California’s anti-SLAPP statute was filed in response to a lawsuit initiated by beneficiaries against a trustee and executor of an estate. The United States Court of Appeals for the Ninth Circuit...more
Same-sex marriages now are being recognized under federal tax law for the first time. In June 2013, the Supreme Court released its decision in United States v. Windsor, 530 U.S. 12 (2013), declaring Section 3 of the federal...more
What you need to know:
As the result of the Supreme Court’s recent decision in United States v. Windsor and a subsequent ruling by the IRS, same-sex couples who are legally married in a jurisdiction that recognizes...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.
Recently, the U.S. Supreme Court ruled unconstitutional Section 3 of the Defense of Marriage Act (DOMA), which, for federal purposes, defined marriage as between one man and one woman. United States v. Windsor, 570 U.S. ____...more
The September §7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0%, which is the same as the August rate and an increase from July's rate of 1.2%. The applicable federal rate ("AFR")...more
As a result of the U.S. Supreme Court’s decision in United States v. Windsor, 133 S. Ct. 2675 (2013), in which the Court held that Section 3 of the federal Defense of Marriage Act (“DOMA”) was unconstitutional, same-sex...more
A new federal policy will allow legally married same-sex couples to get the same federal tax benefits as married heterosexual couples. The policy applies even if the same-sex couple lives in a state that does not recognize...more
Revenue Ruling 2013-17 -
On August 29, 2013, the US Department of the Treasury (“Treasury”) and the Internal Revenue Service (IRS) issued Revenue Ruling 2013-17 (the “Ruling”) holding that, for purposes of...more
The Supreme Court’s recent Windsor decision, overturning a section of the Defense of Marriage Act, may allow significant tax savings for certain married same-sex couples. In light of the decision, married same-sex couples,...more
See how the Supreme Court’s June 26, 2013 United States v. Windsor decision, which concluded the Defense of Marriage Act unconstitutionally restricted spousal benefits to members of the opposite sex, affects ERISA beneficiary...more
The U. S. Supreme Court’s decision in United States v. Windsor, 570 U.S. ___ (2013) implicates important changes to the interpretation and administration of federal tax laws (including, income, gift and estate taxes). On June...more
Rhode Island, Same Sex Divorce and Portability: Imperfect Together
by James F. McDonough, Jr. on August 13, 2013
Rhode Island Governor Chafee issued an executive order directing the state to recognize same-sex marriages...more
We recently sent an E-Alert on what the recent Supreme Court same-sex marriage decisions mean for employers, but what do those decisions mean for the couples themselves in terms of employer and tax benefits?...more
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