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
One of the provisions included in the health care reform legislation enacted in 2010 will subject certain individuals to a 3.8% tax on net investment income (or "unearned income"). The new law is effective in 2013 and imposes...more
The death or disability of a taxpayer who has failed to timely file a Report of Foreign Bank or Financial Account (FBAR) can present difficult problems for fiduciaries like trustees, estate executors and conservators. The...more
President’s fiscal year 2014 budget contains numerous tax provisions -
President Barack Obama released his proposed budget for the government’s fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget...more
Some of this year's top scams are directed at innocent taxpayers, while others are committed by taxpayers in a futile and costly attempt to avoid taxes.
For each of the last several years, the Internal Revenue Service has...more
The White House recently released its Fiscal Year 2014 budget proposal, and there are many suggested changes that will impact individuals, businesses, and estates. Several of these proposals—particularly on the estate and...more
Because the media cycle moves so quickly these days, you may have already forgotten about the frantic last few days of 2012, during which Congress and the White House worked feverishly to save us all from going off the...more
The Obama Administration recently released its budget proposal for the federal government’s upcoming fiscal year of October 1, 2013 to September 30, 2014. The budget proposal contains a variety of changes to the tax laws...more
The IRS continues to aggressively pursue offshore tax evasion. Another example of which is plan to share tax information with Australia and the United Kingdom....more
The end of 2012 saw an unprecedented surge of activity for estate planning attorneys and advisors counseling clients to implement estate plans before the 2013 changes in the law, which would have reduced gift and estate tax...more
The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on January 1, 2013. Among other things, the Act amended the federal estate, gift, and generation skipping transfer tax laws. The amendments of the Act...more
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
Miami residents have a long history of escaping to cooler climates during the summer months. While the advent of central air conditioning has made regular visits to the north more of a luxury than a necessity, vacation homes...more
In This Issue:
ATRA 2012 – How Does it Affect You?; Planning and Paying for Long-Term Care; and Obama Revenue Raising Proposals.
Excerpt from ATRA 2012 – How Does it Affect You?:
The American Taxpayer...more
Most of the time, people are pleased to accept an inheritance. However, there are many reasons to not want the inheritance. For example, in small estates, you may receive a home that comes subject to a mortgage, and you...more
Beginning on December 31, 2013, the qualified intermediary (QI), withholding foreign partnership (WP), and withholding foreign trusts (WT) will be subject to the requirements of a foreign financial institution (FFI). As a...more
If a taxpayer does not file a tax return, the statute of limitations for most federal taxes never commences. Thus, in theory, the IRS can go back as many years it wants to such an “open” year to audit and assess tax....more
The new Internal Revenue Code ("IRC") Section 1411, which imposes a 3.8 percent tax on net investment income ("NII") was passed as part of the Affordable Care Act of 2010 ("ACA") and is effective for tax years beginning on or...more
A bipartisan group of 11 legislators have proposed an overhaul of Maine’s tax system, including major changes to the individual and corporate income tax, property tax, sales tax, and estate 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
Since the passage of The American Taxpayer Relief Act of 2012 and the submission of the President's federal budget proposal for 2014, it is clear that high net worth and high income taxpayers continue to be under attack....more
The curiously titled "Heroes Earnings Assistance and Relief Tax Act of 2008" became law 17 June 2008. This was the third major revision of expatriation rules in 12 years. While the Act provides laudable benefits to armed...more
In January, the President signed the American Taxpayer Relief Act of 2012, which among other things, permanently raised the federal estate, gift and generation skipping transfer tax exemptions to $5,000,000, indexed for...more
Inheritance and Gift Taxes
The generally held opinion in Nigeria is that there is no Inheritance and Gift Taxes in Nigeria. This is despite the enforcement of a Ten per cent (10%) Estate Fee charged on a...more
In case you did not know, Miami is the capital of Latin American. It is the port of entry for Latin Americans from Central and South America. Historically, wealthy Mexicans have liked California and Texas...more
When Congress resolved the fiscal cliff crisis early this year, it brought permanence to estate, gift and generation-skipping transfer tax laws that had been in flux for over a decade. In short, the American Taxpayer Relief...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo