Portability

News & Analysis as of

The Future of Credit Shelter Trusts

When the President signed the American Taxpayer Relief Act of 2012, some observers thought that certain provisions would sound the death knell for a popular legal tax shelter strategy known as Credit Shelter Trusts (CST)....more

U.S. Tax Implications of Offshore Migration of Intellectual Property

Challenges of Transferring IP Offshore - What constitutes intellectual property (“IP”) has long been a contested issue in tax practice, but generally includes intangible assets as wide-ranging as patents, copyrights,...more

Why the SBA doesn’t like your joint trust: A common estate planning trap for owners of certified small businesses with government...

It is common for business owners to have different attorneys for their estate planning needs and their business law needs – sometimes, the two attorneys don’t even work for the same law firm. This article will review the...more

USCIS Guidance on “Same or Similar” Occupations

USCIS has issued a new policy memorandum (PM) outlining relevant considerations in assessing whether a position qualifies as a “same or similar” occupation to the foreign national’s previously approved job for purposes of...more

USCIS Guidance on “Same or a Similar” Occupation for AC21 Welcomed

In a welcome move, on March 18, 2016 U.S. Citizenship and Immigration Services (USCIS) released policy guidance for its officers to help them decide “green card portability” cases....more

2016 Tax Update Letter

Re: 2016 Tax Update - Dear Clients and Colleagues: This letter is an update on the most recent estate and gift tax developments and serves as a follow-up to our previous annual tax updates....more

USCIS Issues Major Proposed Rule on Employment-Based Immigration

The Proposed Rule would implement provisions of the AC21 and introduce significant reforms to the employment-based immigration process. On New Year’s Eve 2015, US Citizenship and Immigration Services (USCIS) published a...more

DHS Issues Proposed Rule for Changes to Employment of High-Skilled Foreign Workers

On December 30, 2015, the U.S. Department of Homeland Security (DHS) released a notice of proposed rulemaking (NPRM) concerning employment-based visa programs for high-skilled workers. The notice is published in the December...more

Worth the Wait: Will USCIS Draft Policy Guidance Bring Greater Job Portability and Career Advancement for Foreign Workers and...

On November 20, 2015, the United States Citizenship and Immigration Services (USCIS) released a highly anticipated draft policy memorandum for public review and comment that provides guidance to USCIS Immigration Services...more

GDPR Text Approved

On December, 17, 2015, following the announcement that European officials had agreed on the language of the EU’s new General Data Protection Regulation (“GDPR” or “Regulation”), the EU Parliament’s Civil Liberties Committee...more

UK Film & Television Update - European Commission Announces Its Intention to Regulate Cross-Border Portability of Online Content

The EC’s attempt to harmonize copyright across Europe raises questions for both content providers and consumers. Readers may recall that on 6 May 2015 we issued an update notifying the European Commission (EC)'s...more

Personal Planning Strategies - December 2015

2016 Estate, Gift and GST Tax Update - What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following...more

Q&A on the proposed regulation on cross-border portability of content and its application to your company

The EC has presented its proposal and draft regulation on ensuring the cross-border portability of online content services in the EU. This briefing note contains: (i) a detailed Q&A on material detail contained in the...more

Exemption Portability - What is it, and how does it work?

The term "portability" is used in many contexts, but in the estate planning context portability describes the way a surviving spouse can use the remainder of a deceased spouse's unused exclusion amount to further shield her...more

The European digital single market: where are we now?

It has been a busy few months for the European Commission. When the Commission announced its plans for the digital single market (DSM) on 6 May, many commentators and stakeholders felt that it provided more questions than...more

British Columbia: A guide to B.C.’s new pension legislation for HR professionals

On September 30, 2015, British Columbia’s new Pension Benefits Standards Act (PBSA) and Regulation came into effect. The PBSA has wide-ranging implications for HR Professionals who oversee BC-registered pension plans and...more

HUD issues final rule modifying portability process in HUD’s Housing Choice Voucher Program

Effective September 21, amendments to HUD’s Housing Choice Voucher (HCV) Program – the government’s largest program for assisting low-income, elderly, and disabled populations in the private housing market – will change the...more

Wealth Management Update - August 2015

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Estate Tax Portability: Panacea or Potential Peril?

In 2013, Congress made the estate tax portability rules permanent. Some predicted this would negate the need for advanced estate planning, but two years later, it is clear that portability is not a panacea even for smaller...more

Regulatory Update: Final Regulations on Portability of the DSUE

Portability of the deceased spousal unused exclusion (DSUE) amount between spouses was first introduced by Congress in December 2010, applicable to estates of married decedents dying on or after Jan. 1, 2011. Although...more

Corporate E-Note - June 2015

In this Issue: - IRS Issues Guidance on Portability: The IRS recently issued final regulations that provide guidance on the federal estate and gift tax applicable exclusion amount, in general, as well as the...more

Estate Tax Regulations Allow Taxpayers to Request Late Portability Relief

The IRS released new final estate and gift tax regulations that include guidance on taxpayers seeking so-called “portability” elections to carry over the lifetime exclusion from the first spouse to die to the second spouse.  ...more

European High Yield and leveraged loans: Has the convergence gone too far?

The growth of the High Yield (HY) market in the leveraged finance arena has, save for a few short term downturns, continued unabated since the onset of the financial crisis. The financial crisis and the continued...more

2015 Tax Update Letter

Dear Clients and Colleagues: This letter is an update on the most recent estate and gift tax developments and serves as a follow-up to our past yearly tax updates, which can be accessed by clicking the “Family Wealth...more

Here's How Obama's Immigration Actions Will Affect Employers

When President Obama announced his Executive Actions On Immigration (to take effect in about 90 days), he said that the changes were intended to “make it easier and faster for high-skilled immigrants, graduates and...more

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