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Supreme Court of the United States › Beneficiaries

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
King & Spalding

Transitional Coverage for Emerging Technologies: CMS’s Latest, But Not Necessarily Greatest, Coverage with Evidence Approach

King & Spalding on

On August 7, 2024, the Centers for Medicare & Medicaid Services (“CMS” or the “Agency”) issued a final procedural notice (“Notice”) outlining a new Medicare coverage pathway, aimed at achieving timelier and predictable access...more

Allen Barron, Inc.

Tax and Estate Planning for Small Business Owners and S Corporations with No Employees

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Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is simply a myth which does not reflect the nature of business or home ownership....more

Husch Blackwell LLP

Unanimous Supreme Court Determines Company-Owned Life Insurance Increases Fair Market Value

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On June 6, 2024, the Supreme Court held 9-to-0 in Connelly v. United States that company-owned life insurance increases the company’s fair market value for estate tax purposes, and the company’s obligation to redeem a...more

UB Greensfelder LLP

The U.S. Supreme Court’s Decision in Connelly Impacts Estate Tax Valuations of Closely Held Businesses

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The Supreme Court’s recent decision in Thomas A. Connelly et al. v. United States has significant implications for certain closely held business owners. The decision is important especially for those with, or planning to buy,...more

Whiteford

Client Alert: Time to Revisit Buy-Sell Agreements in the Wake of the Connelly Decision

Whiteford on

In its recent decision in Connelly v. U.S., the U.S. Supreme Court held that life insurance proceeds received by a corporation to fund an obligation to purchase a deceased stockholder’s shares in the corporation must be...more

Fleurinord Law PLLC

The Importance of Estate Planning for LGBTQ+ Couples in Texas and Florida

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The landscape of marriage in the United States has transformed significantly, particularly for same-sex couples, following pivotal legal battles that sought to recognize their right to marry. Understanding the nuances of...more

Levenfeld Pearlstein, LLC

U.S. Supreme Court to Hear Foreign Financial Account Penalty Case

Levenfeld Pearlstein, LLC on

$50,000 or $2.72 million? Those are the penalty amounts for the non-willful failure to timely file to report foreign financial accounts at issue in U.S. v Bittner, which will be argued before the U.S. Supreme Court in...more

Foley & Lardner LLP

Managed Care & the FCA: Are Courts Getting It Right?

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Courts are grappling with unique questions in the context of managed care programs in False Claims Act (FCA) cases. But are they getting it right? Two questions trending in courts relate to: (1) materiality under the FCA when...more

Foley Hoag LLP - Medicaid and the Law

Medicaid’s Right of Recovery Against Legal Settlements

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The United States Supreme Court recently answered an important question in Medicaid law:  can a state Medicaid plan recover funds from a legal settlement involving a Medicaid beneficiary to pay for that beneficiary’s future...more

Cozen O'Connor

US Supreme Court Validates Medicaid State Agency’s Right to Wipe Out Tort Recoveries from Medicaid Beneficiaries

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The Supreme Court delivered a huge blow to tort victims in a recent decision that will effectively eliminate the tort victim’s settlement/award by expanding the ability of states to recoup health care costs from accident...more

White and Williams LLP

Pennsylvania Superior Court: No Creditor Protection for Inherited IRAS

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Under longstanding Pennsylvania law, retirement savings vehicles like individual retirement accounts (IRAs), 401(k) and 403(b) accounts, pensions, and employee stock ownership plans (ESOPs) are generally exempt from creditor...more

King & Spalding

U.S. Supreme Court Will Not Hear Arguments Over Medicaid Work Requirements

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On April 18, 2022, the Supreme Court tossed two consolidated cases from Arkansas and New Hampshire addressing work requirements for Medicaid coverage that required potential Medicaid beneficiaries to work, attend school, or...more

Holland & Hart LLP

A Primer on Personal Jurisdiction over a Trustee

Holland & Hart LLP on

No trustee wants to be forced to litigate a dispute in a far-off venue. Nonetheless, the intricate relationship that a trustee has with a beneficiary can certainly cause some concern that the trustee may have subjected...more

Jackson Lewis P.C.

Current Beneficiaries May Renew DACA Status While Program Undergoes Review, Administration Announces

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In response to the June 2020 U.S. Supreme Court decision that the DACA program had not been properly terminated by the Trump Administration, President Donald Trump has announced he will be instituting a comprehensive review...more

Perkins Coie

U.S. Supreme Court finds in Favor of Taxpayer Trust Beneficiary in Kaestner

Perkins Coie on

On June 21, 2019, the U.S. Supreme Court issued its opinion in North Carolina Department of Revenue v. Kimberly Rice Kaestner 1992 Family Trust. This unanimous decision stated that the State of North Carolina may not tax...more

Mitchell, Williams, Selig, Gates & Woodyard,...

U.S. Supreme Court Limits the Ability of States to Tax a Trust – The Kaestner Case

Mitchell, Williams, Selig, Gates & Woodyard,... on

On June 21, 2019, the U.S. Supreme Court issued an opinion limiting the ability of a state to impose income taxes on a trust when the trust’s connection with the taxing state is minimal. The case is styled North Carolina...more

Roetzel & Andress

Trusts, Beneficiaries, And The Application Of State Income Tax

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In North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, Case No. 18-457, 588 U.S. __ (2019), the Supreme Court revived the two-prong test from Quill v. North Dakota, 504 U.S. 298 (1992) and held...more

McGuireWoods LLP

North Carolina Revenue Department Sets Deadline to Claim Refunds Under Kaestner

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On July 2, 2019, the North Carolina Department of Revenue issued a notice setting December 21, 2019, as the deadline for certain taxpayers to file amended returns or tax refund claims based on the U.S. Supreme Court decision...more

Jones Day

United States Supreme Court Rules State Cannot Tax Trust’s Income

Jones Day on

Kaestner ruled that a state's taxation of a trust's income, where the only connection to the state was an in-state beneficiary, violates the Due Process Clause. On June 21, 2019, the United States Supreme Court unanimously...more

Proskauer Rose LLP

Wealth Management Update - July 2019

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Supreme Court Ruling in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, 588 U.S. [TBD] and its Relevance to Income Taxation of Accumulated Income in California Trusts - The Supreme Court...more

Proskauer - Tax Talks

State Tax on Trust Income Based Solely on In-State Residence of Beneficiaries Found Unconstitutional

Proskauer - Tax Talks on

On June 21, 2019, the United States Supreme Court decided North Carolina Dept. of Revenue v. Kimberly Rice Kaestner 1992 Family Trust (hereinafter, “Kaestner”). In a unanimous opinion delivered by Justice Sotomayor, the Court...more

Davis Wright Tremaine LLP

Remember State Income Taxes When Creating a Trust to Own Family Business Interests

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Oftentimes, a family business will be owned in part or entirely by one or more irrevocable trusts. Whether those trusts are subject to state income tax depends on the location of any one or more of: (1) the...more

McDermott Will & Emery

Trust Wins Due Process Challenge to North Carolina State Income Tax

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Last week, the US Supreme Court ruled that North Carolina may not tax a trust’s income when the trust’s only contact with the state is the in-state residence of discretionary beneficiaries. The Due Process Clause requires a...more

Smith Debnam Narron Drake Saintsing & Myers,...

Supreme Court Issues Ruling in Tax Case

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There’s big news in the tax and trusts and estates world. The U.S. Supreme Court released its opinion in the North Carolina Dept. of Revenue v. Kimberley Rice Kaestner 1992 Family Trust case...more

Troutman Pepper

Supreme Court Sets Limits on State Income Taxation of Trusts

Troutman Pepper on

On June 21, the U.S. Supreme Court issued a unanimous decision in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust (Kaestner), holding that a trust is not subject to fiduciary income tax in a...more

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