A Focus on Energy: Royalty Trusts
What is an Irrevocable Trust?
For many years, courts have recognized that gifts to a trust can qualify for the gift tax annual exclusion as “present interest” gifts if withdrawal powers are granted to beneficiaries.The IRS is hostile to persons being...more
In March, the Department of Treasury issued the administration's 2015 fiscal year revenue proposals for the federal government. Those proposals are described in General Explanations of the Administration's Fiscal Year 2015...more
We previously alerted you to proposed legislation affecting New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. This month Governor Cuomo signed final...more
The New York State Legislature is considering some significant proposed changes to the New York estate tax law, the tax treatment of gifts by New York residents, and New York income taxation of certain trusts. Some important...more
In last Sunday’s final episode of “Breaking Bad”, Walter White broke into his former business partner’s house (Elliot and wife Gretchen).
Reason? To give them close to a million dollars in cash so they would set up a...more
In This Issue:
- How to Protect Your Assets as a Business Owner
- Separated But Not Divorced: Don’t Wait to Update Your Estate Plan
- Tales from the Cliff: Estate Planning Policy for 2013 and Beyond
Code §2501(a)(2) provides that, except as to certain expatriates, U.S. gift taxes do not apply to the transfer of intangible property by a nonresident not a citizen of the United States. This exemption is big enough to drive...more
In This Issue:
- Tax deal reshapes estate planning landscape
- Are your children prepared to handle your wealth?
- Planning your digital legacy
- Estate Planning Red Flag: You’re married and relocating into or out...more
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