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Estate Planning › Reporting Requirements

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Farella Braun + Martel LLP

John Wick - What You Need To Know about the Corporate Transparency Act

Farella Braun + Martel LLP on

Welcome to The Verdict: Estate Planning Through Film. In episode two, host Hons Yung is joined by Farella Braun + Martel's Greg LeSaint to discuss the movie John Wick and the Corporate Transparency Act (CTA). Greg breaks...more

Blank Rome LLP

Updated Reporting Requirements for Foreign Gifts and Foreign Trusts

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Proposed Treasury Regulations (the “Proposed Regulations”) have recently been issued to update and clarify existing reporting obligations for U.S. persons who receive gifts from abroad or who are owners or beneficiaries of...more

Goodwin

The Corporate Transparency Act: Overview and Estate-Planning Considerations

Goodwin on

The new Corporate Transparency Act (CTA) was enacted to prevent and combat the illegal use of shell companies to launder funds, evade taxes, and commit other financial crimes. To accomplish its mission, the CTA requires...more

ArentFox Schiff

Emerging Businesses and Venture Capital in 2024: 10 Hot Topics for Founders, Investors, and Executives of Emerging Companies

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2023 was a pivotal year for the emerging companies, creating new categories of winners and losers across the board. Emerging companies incorporating artificial intelligence or that have clear line of sight to positive cash...more

ArentFox Schiff

Beverage & Food Industry in 2024: 10 Hot Topics for Beverage & Food Industry Founders, Investors, and Executives

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2023 was a pivotal year for the beverage and food industry globally, creating new categories of winners and losers across the board. With a full year of operations largely relieved of pandemic-era restrictions, restaurant...more

ArentFox Schiff

What Private Companies Need To Consider in 2024: Top 10 Legal Issues

ArentFox Schiff on

Private companies and their owners face ever-evolving challenges as the market sees new regulations, new deal trends, and new risks in 2024. Below are 10 issues that the owners and leaders of privately held companies should...more

Sheppard Mullin Richter & Hampton LLP

Trust and Estate Considerations With the Corporate Transparency Act

Sheppard Mullin Richter & Hampton LLP on

The Corporate Transparency Act (“CTA”) was enacted as part of the National Defense Authorization Act and establishes that certain types of business entities must report to the Financial Crimes Enforcement Network (“FinCEN”)...more

Katten Muchin Rosenman LLP

Estate Planning and Corporate Transparency Act Reporting

Katten Muchin Rosenman LLP on

The Corporate Transparency Act (CTA) is effective on January 1 and requires "Reporting Companies" to disclose specific information to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Below is a...more

Mintz

Compliance with the Corporate Transparency Act Necessary for Many Estate Planning Clients

Mintz on

Reporting requirements under the Corporate Transparency Act (CTA) will go into effect beginning January 1, 2024. Under the CTA, many business entities formed or registered in the US will be required to provide the personal...more

Arnall Golden Gregory LLP

2024 Brings Estate Planning Opportunities, Significant Reporting Obligations

Arnall Golden Gregory LLP on

Wealthy families should consider taking advantage of the favorable estate planning environment that 2024 brings. Next year, the estate, gift, and generation-skipping transfer tax exemptions, which are adjusted annually for...more

McDermott Will & Emery

West Coast Forum 2023 | Key Takeaways

McDermott Will & Emery on

McDermott’s Private Client Practice led interactive discussions on a broad range of topics pertinent to ultra-high-net-worth families, their family office representatives and other advisors at our Private Client West Coast...more

Verrill

Private Clients Group Client Alert

Verrill on

There have been a few important law and tax changes over the course of 2023 and we in the Private Clients Group here at Verrill wanted to make you aware of the recent changes, such as 1) new strict corporate reporting...more

DarrowEverett LLP

Data Privacy Concerns With the CTA? Consider the Value of DAPTs

DarrowEverett LLP on

People are understandably nervous about sharing personal data no matter the circumstances. That can be especially true regarding estate planning, given the existence of the recently enacted Corporate Transparency Act (“CTA”)....more

Keating Muething & Klekamp PLL

Estate Planning Update: Preparing for the Corporate Transparency Act

Keating Muething & Klekamp PLL on

Effective January 1, 2024, a sweeping anti-financial crimes law – the Corporate Transparency Act – will affect every small business. If you own an interest in a small business, even a single-member LLC, you may be subject to...more

Goulston & Storrs PC

A Guide to the Corporate Transparency Act for Individuals with Closely-Held Businesses and State-Monitored Entities Created for...

Goulston & Storrs PC on

In an effort to curb money laundering, tax evasion, and other corrupt activities conducted through shell companies and synthetic identities, the world’s developed nations have worked for over a decade to create a system of...more

Holland & Knight LLP

Supreme Court declares Mexico's controlling beneficiary reform constitutional

Holland & Knight LLP on

The Second Section of the Mexican Supreme Court of Justice (SCJN) on June 14, 2023, ruled that it is constitutional for the Tax Administration Service (SAT) to request from taxpayers information related to their controlling...more

Kohrman Jackson & Krantz LLP

Will The Corporate Transparency Act Affect Estate Planning?

Kohrman Jackson & Krantz LLP on

The Corporate Transparency Act of 2020 (CTA) passed through Congress on Jan. 2, 2021. The CTA was enacted to prevent companies from being able to conceal ownership of businesses where concealment could facilitate illicit...more

Rivkin Radler LLP

Got a Charitable Interest? Revisiting the Registration Requirements for Charitable Estates and Trusts

Rivkin Radler LLP on

Frequently, estates and trusts have charitable beneficiaries. Trusts and estates attorneys should familiarize themselves with the rules that require certain estates and trusts to register and make periodic filings with the...more

Goodwin

New Corporate Reporting Requirements on Trusts and Other Estate Planning Vehicles

Goodwin on

The Financial Crimes Enforcement Network (FinCEN) has issued final regulations setting out the reporting requirements of the Corporate Transparency Act (CTA). The CTA requires the reporting of beneficial ownership information...more

Bilzin Sumberg

Domestic and International Private Clients and their Closely Held Companies: Update on the Corporate Transparency Act

Bilzin Sumberg on

In a blog post early last year,  we reported on the passage of the Corporate Transparency Act (“CTA”) enacted on January 1, 2021, as part of the National Defense Authorization Act for Fiscal Year 2021. As previously...more

Winstead PC

Corporate Trustee’s Statements May Suffice For A Statutory Accounting

Winstead PC on

Trust beneficiaries often request a corporate trustee to prepare a statutory accounting. The Texas Trust Code in Section 113.151 provides that a beneficiary may request a written statement of accounts....more

Bilzin Sumberg

The Corporate Transparency Act: Initial Observations and Considerations for Domestic and International Private Clients

Bilzin Sumberg on

It didn’t take very long for 2021 to bring about federal legislation that could significantly impact, or at least cause massive administrative headaches for, domestic and international private clients and their holding...more

McDermott Will & Emery

[Webinar] Trust & Estate Controversy Virtual Forum | Offshore Roundup - September 24th, 12:00 pm - 1:00 pm EDT

McDermott Will & Emery on

Sarah Gabbai, Nicholas Holland, Lynsey McIntyre and Ziva Robertson will discuss recent vital regulatory and jurisprudential developments for international fiduciaries. The panel will discuss: - Reporting obligations...more

Winstead PC

Presentation: Trustee Quandary – Criminal Activity by a Beneficiary With or On Trust Property

Winstead PC on

David F. Johnson presented his paper “Trustee Quandary: Criminal Activity By a Beneficiary With or On Trust Property,” to the Tarrant County Probate Bar Association on March 5, 2020. The presentation dealt with a trustee...more

Tucker Arensberg, P.C.

PA Inheritance Tax Rate Reduced to 0% for Parent to Child 21 and Under

Tucker Arensberg, P.C. on

On June 28, 2019, the governor approved HB 262, which includes the reduction of the inheritance tax rate to 0% on property transferred from a natural parent, adoptive parent, or step-parent to or for the benefit of a child...more

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