News & Analysis as of

Addressing the Residency Question - Trust and Estates Update Vol. 2015, Issue 1

Generally, the first criterion for determining whether an individual is subject to probate or to estate or inheritance tax in a state is the individual’s domicile at the time of his or her death. In an increasingly...more

Congratulations on the Birth of Your New Tax Exemption! (Tax Breaks for New Parents)

Planning for a new baby is a constant stream of decisions and questions concerning diapers, cribs, colors, daycare and more, all in the service of preparing your life for a new bundle of joy. What new parents forget in the...more

Estate planning for young families - Flexibility is the key

Younger taxpayers are faced with a dilemma: Should they minimize gift and estate taxes through lifetime gifts? Or, should they keep assets in their estates to help ease the potential income tax burden on their heirs? The...more

Maine Workers' Compensation Alert: Workers' Compensation Appellate Division Holds that in a Claim to Death Benefits, Dependency...

In Foley v. Thermal Engineering International, Inc., Me. WCB App. Div. Decision No. 15-2 (January 13, 2015), the Workers' Compensation Board Appellate Division held that, in a claim to death benefits, dependency status is...more

Amendments to Virtual Representation Statute Take Effect on January 1, 2015

There is increasing interest among trustees and beneficiaries to resolve disputes and modify trust documents without going to court. For many years, the primary mechanism to accomplish that in Illinois has been the Virtual...more

QDROs For Unmarried Cohabitants?

Sponsors of qualified retirement plans know that, generally speaking, plan benefits cannot be taken from a participant through legal process or otherwise be assigned to anyone other than the participant. There is an exception...more

Tax Issues for Same-Sex and Non-Traditional Couples

Tax issues are among the many legal challenges same-sex and non-traditional couples face. Currently the Defense of Marriage Act of 1996 (DOMA) requires that under federal law marriage is between a man and a woman. Our federal...more

Employer Alert -- January 2013: IRS Proposed Regulations On PPACA’S Shared Responsibility Provisions Full of New Year Surprises...

On December 28, 2012, the Internal Revenue Service (“IRS”) issued long-awaited proposed regulations regarding the “shared responsibility” penalty provisions of the Patient Protection and Affordable Care Act (“PPACA”). In...more

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