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
1/20/2022
/ Beneficial Owner ,
Closely Held Businesses ,
Corporate Structures ,
Corporate Transparency Act ,
Estate Planning ,
Financial Crimes ,
FinCEN ,
Foreign Corporations ,
NDAA ,
Ownership Interest ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Trustees
On June 29, 2021, Florida enacted the Florida Uniform Directed Trust Act ("FUDTA") and the Community Property Trust Act ("CPTA"). Florida will now have a more robust law whereby “trust directors” can be granted powers in a...more
On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more
3/26/2021
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
High Net-Worth ,
Legislative Agendas ,
Proposed Legislation ,
Tax Planning ,
Tax Reform
In a previous post, we discussed the tax implications for U.S. beneficiaries who receive a distribution from a foreign trust. That discussion assumed that the trust in question was, in fact, a foreign trust for U.S. federal...more
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
While it is hard to imagine there could be anything advantageous about today's uncertainties and depressed asset values, the following factors, coupled with historically low interest rates...more
8/19/2020
/ Asset Management ,
Asset Valuations ,
Estate Planning ,
Estate Tax ,
Interest Rates ,
Intra-Family Loans ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Transfer of Assets ,
Trump Administration ,
Wealth Management