Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
Widow Foreclosure Catch-22
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
Planning for Your Social Media Accounts When You Die
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Fein, Such, Kahn, & Shepard: Estate Planning
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
The Basics of the Fiscal Cliff Deal & Why the Lack of Sunset Provisions Is Important
This article discusses the use of private placement products - private placement deferred variable annuities (PPVA) and private placement life insurance (PPLI)- in post mortem income tax and transfer tax...more
The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.2%, which is a slight decrease from April's rate of 1.4%. The applicable federal rate ("AFR") for use with a sale to a...more
In This Issue:
- How to fund long-term care insurance with a tax-free exchange
- Should a CRT be part of your estate plan?
- The key to an effective trust is education
- Estate Planning Pitfall:...more
A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts...more
Long-term care (LTC) insurance is a major expense, especially for someone who purchases it at or after retirement age. One potential source for funding LTC insurance premiums is a total or partial tax-free exchange of an...more
The scenario is not difficult to imagine: An employee designates her spouse as the primary beneficiary under her employer’s life insurance and retirement benefit plans. Years later, the couple divorces, and in the marital...more
Yesterday, the Second Circuit ruled on two important issues of note for ERISA plan sponsors and plan fiduciaries.
In Thurber v. Aetna Life Insurance Co., 2013 WL 950704 (2d Cir. Mar. 13, 2013), the Court ruled that...more
High net worth and income taxpayers find themselves in a world of hurt following tax reform at the end of 2012. The top marginal bracket for taxpayers with more than $400,000 (single and $450,000 married)...more
Plan sponsors know that errors and failures in administering a retirement plan happen. All too often, changes in administrators, service providers and other staff uncover errors and compliance problems that should be...more
In This Issue:
- Fiscal cliff deal brings some certainty to estate planning
- Strong governance enhances a family business’s value
- Should you donate life insurance to charity?
- Estate Planning Pitfall -...more
Legal Solutions is the quarterly newsletter of Sullivans Law LLP Solicitors based in Belfast, Northern Ireland - UK.
Included in the March 2013 edition:
+ confidentiality agreements
+ county courts jurisdiction...more
Donating life insurance to a favorite charity is an excellent opportunity to make a larger donation than may otherwise be affordable. This article shows why this is so and discusses the most tax-effective way to donate life...more
Part I and Part II have focused on the tax planning possibilities of small business owners and owners of professional corporations utilizing an exemption for collectively bargained plans. This exemption allows...more
In a case of first impression, the Illinois Appellate Court considered whether a professional liability insurer can deny a defense to its insured, an attorney who admits he erred in providing legal services. Ill. State Bar...more
New rules affecting ERISA-covered retirement plans entering into swap transactions will come into effect in May 2013. These rules, known as the “Business Conduct Standards,” implement certain provisions of the Dodd-Frank...more
The IRS recently released the long-awaited updated version of the Employee Plans Compliance Resolution System (EPCRS), Revenue Procedure 2013-12. EPCRS allows the sponsor of a tax-deferred retirement plan to voluntarily...more
The Illinois Supreme Court has announced its anticipated filing dates for January and February. Opinions are expected on Friday, January 25; Thursday, February 7; and Friday, February 22. Decisions on petitions for rehearing...more
The wait is over. The taxpayer got dangled over the Fiscal Cliff and was allowed to have a controlled fall. For the high income taxpayer, the fall resulted in a broken ankle, bruised ribs and a minor...more
On December 31, 2012, the Internal Revenue Service (the “IRS”) released Revenue Procedure 2013-12, which contains long-awaited updates to the Employee Plans Compliance Resolution System (“EPCRS”), previously set forth in...more
This week's article focuses upon the recent Indiana Court of Appeals decision Pistalo v. Progressive in which the court held that a bad faith claim against an insurance company could progress even though the policy holder had...more
Defined benefit plan sponsors have become very focused on ways to control their asset volatility and to remove pension liabilities from their balance sheets. In fact, it would be fair to call “de-risking” a hot global issue...more
This executive summary is intended to outline the use of private placement insurance contracts as a funding vehicle for nuclear decommissioning trusts (NDT). As of the end of 28 investor-owned and 28...more
Originally published in the Journal of Taxation of Investments in December 2012.
This article is designed to provide an overview of the benefits of private placement life insurance (PPLI) and private...more
Ready, set, go! Following the Presidential election last night, the race is on for year-end tax planning and bracing for the fall off the fiscal cliff.
While no one can tell exactly what the tax outcome will be after...more
Life insurance policies can be great vehicles for income tax deferral. Part of this arises from the fact that earnings growth that occurs inside the policy is not subject to current income tax (and may never be taxed if the...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo