James McDonough – Scarinci Hollenbeck

Facebook and Estate Planning By James F. McDonough, Jr. on May 18th, 2012 Facebook has grabbed the headlines, but behind the scenes key personnel have undertaken critical estate planning, proving that they are more than…more

IRS Held to Three-Year Timeline to Audit Tax Shelters By James F. McDonough, Jr. on May 11th, 2012 The Supreme Court recently ruled the Internal Revenue Service is required to audit tax shelters within a three-year…more

Taxpayer Wins Court Approval of Defined Value Gift Clause By James F. McDonough, Jr. on May 4th, 2012 Perhaps no recent taxpayer victory is more important to estate and gift tax planning than the case of Wandry v…more

New Jersey Sales Tax Revenue Losses Fall Between $64 – $94 Million due to Gift Card Law By James F. McDonough, Jr. A recently-enacted New Jersey property law may result in revenue losses totaling between $64 and $94…more

Transfer of Insurance Policy Held in a Grantor Trust By James F. McDonough, Jr. on April 9th, 2012 One of the most common estate planning techniques is the use of a trust to hold a life insurance policy, sometimes…more

The real estate market, in severe decline over the last few years, has shown signs of life recently. Naturally, the supervising government agencies, lenders, and loan brokers are sensitive to avoiding the mistakes of the past…more

The recent attention paid to the probate of the will of the late Whitney Houston is only a very small slice of a very complex estate. The complexity is primarily due to certain assets that are part of the estate and must be…more

The New Jersey Tax Court has held that a foreign corporation that consistently permits an employee to telecommute from her New Jersey residence is doing business in New Jersey and is subject to the New Jersey Corporation…more

In the prior post from February 21st, I identified circumstances that resulted in the destruction of family wealth. In this post, I want to address what Frank Brunetti terms “Sandbox Issues. Sandbox issues are conflicts…more

I was listening to the radio Friday evening when the announcer described a news report to be aired after a commercial. Normally, I would change the station but was intrigued by the story — a son evicting his mother from the…more

Frank Brunetti and I were discussing business succession plans for a client the other day, and he uttered the phrase that is the title of this blog post. It will stay with me forever, because every business attorney has seen…more

I received a call from an old client who had retired and moved away. The client had met a prospective spouse who was a citizen of a civil law country, and they were discussing marriage. In addition, they were also discussing…more

Describes complications that arise when dealing with Limited Liability and Series Limited Liability companies…more