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
One of the areas of inquiry that is certain to receive increased attention by the IRS and Department of Justice (DOJ) is the claim that the funds in offshore accounts were the result of a “gift”. The proper documentation of...more
A scheme that some dual national taxpayers have used involves claiming exemption from foreign jurisdiction taxation because they are U.S. taxpayers and then not reporting the offshore account or its income as required by U.S....more
Most United States persons who have foreign financial accounts are aware that they must file an annual report to the Internal Revenue Service (IRS) with respect to these accounts. Less well known, however, is that individuals...more
Cornelius Gurlitt’s notarized will, which did not surface until after his unexpected death this past May, lists the Kunstmuseum Bern in Switzerland as the heir to his vast art collection, which included works by Matisse, Dix,...more
Many traditional estate planning strategies are based on the assumption that everyone involved is a U.S. citizen. But for those couples with a noncitizen spouse, special rules apply that require additional planning. This...more
In This Issue:
- Adapting to the times: Estate planning focus shifts to income taxes
- International estate planning 101
- When is the optimal time to begin receiving Social Security?
Because BVI companies are widely used in Hong Kong for various purposes, it important for clients to understand the nuances and intricacies of obtaining grants of probate and administration in the BVI. Contrary to popular...more
U.S. persons with an interest in a non-U.S. account must annually file a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) if the aggregate maximum values of the foreign financial accounts exceed $10,000...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
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
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
The following is a list of questions that should lead to the discovery of offshore assets, whether properly reported or not. If you answer yes to any of these questions, then you may have filing obligations and should seek...more
Richard M. Goldstein is chairman of the tax and wealth preservation group in Bilzin Sumberg Baena Price & Axelrod's Miami office and represents numerous family businesses, U.S. residents and nonresident aliens, multinational...more
According to some international financial experts, recently implemented American tax rates and policies may cause more Americans living abroad to renounce their U.S. citizenship. A recent conference in Israel on the subject...more
Our increasingly mobile society has forced estate planning to go international, too. You might have international estate issues:
? You have dual citizenship (US and another country)
? You are a non-U.S....more
Estate litigation and probate proceedings are sometimes complicated when a beneficiary, close family member or other interested party is a citizen of a foreign nation. In an attempt to ease this burden, international...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
The IRS will issue inflation-adjusted transfer tax and foreign reporting items for 2014 based on fiscal year 2013 inflation, but it hasn’t done so yet. Thomason Reuters does its own computations of what it estimates will be...more
Real estate investment trusts (REITs) have long been a tax-efficient vehicle for foreign persons seeking to invest in U.S. real estate. Now, two legislative proposals titled the Real Estate Investment and Jobs Act of 20131...more
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
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
James Gandolfini, a/k/a Tony Soprano, died unexpectedly at the age of 51. Not that we should all take money management lessons from a TV mobster, nor should we take guidance on estate planning from him, but the death of a...more
Estate of Turco: Is There Clawback For Insufficient Estate Tax Funds?
by James F. McDonough, Jr. on August 15, 2013
The lack of liquidity is a serious problem in the administration of an Estate, especially for a...more
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