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Estate Planning › Trusts › Partnerships

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 -
Holland & Knight LLP

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

Holland & Knight LLP on

Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...more

Cole Schotz

Business Succession Planning – Should I Own My Business In A Trust?

Cole Schotz on

Closely-held businesses come in all shapes and sizes. Some owners own 100% of their businesses. Some have partners. Some have children in the business. Some do not. A common question that a client asks the business and...more

Jones Day

IRS to Begin Examination of Hundreds of High-Wealth Individuals Starting July 15

Jones Day on

The Internal Revenue Service ("IRS") announced that as soon as it reopens its collection and examination functions on July 15, it will immediately begin the examination of hundreds of high-income individuals and private...more

McDermott Will & Emery

Highlights from the Final Opportunity Zone Regulations

McDermott Will & Emery on

The US Treasury released Final Regulations providing guidance under Subchapter Z (the Opportunity Zone Provisions) of the Internal Revenue Code in December of 2019. The Final Regulations clarify many portions of two earlier...more

Allen Matkins

Is A Trust Always A Person?

Allen Matkins on

Yesterday's post discussed Justice Grimes' opinion that while a trust must always act through a trustee, a trust is a "person" that may associate in a partnership under the California Uniform Partnership Act of 1994 (Cal....more

Dentons

Section 199A and Calculating and Reporting for Relevant Passthrough Entities, Publicly Traded Partnerships, Trusts, and Estates

Dentons on

Last week, we provided a high-level overview on the application of Section 199A as it relates to estates, trusts, and beneficiaries. This post will cover the details of calculating and reporting the Section 199A deductions....more

Burr & Forman

New IRS Proposed 199A Regulations Provide Guidance on 20% Profit Pass-Through Deduction

Burr & Forman on

On August 8th, the IRS released its much-awaited Proposed Regulations on the new Section 199A 20% profit deduction for pass-through businesses. The new deduction applies to essentially all types of businesses other than C...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2013: Strong governance enhances a family business’s value

Adler Pollock & Sheehan P.C. on

Too often, family members view their business as a source of wealth without making sure that the company is managed by those best suited for the job. Good governance — carefully documented in writing — can help ensure a...more

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