News & Analysis as of September 20, 2024

Income Taxes › Fiduciary Duty

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

The Appeal of Nevada: Why Corporations are Heading West

Holland & Hart LLP on 5/13/2024

More and more corporations are moving to Nevada. Is this because of the lack of corporate or franchise taxes associated with incorporating in the state or the lack of state income tax? Likely not (Nevada does not collect...more

Bond Issue Fundamentals: A Guide to the Participants and the Process - Updated

McNees Wallace & Nurick LLC on 1/17/2024

A bond issue (a debt obligation of a local government) is often perceived as a mystery for many Pennsylvania local government officials and solicitors. The securities and tax regulations governing municipal bonds have grown...more

Tax Court in Brief January 31 – February 4, 2022

Freeman Law on 2/7/2022

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose....more

Releases and Family Settlement Agreements in Trust & Estate Litigation

Freeman Law on 12/15/2021

A settlement agreement can be beneficial to all parties – it may help reduce litigation costs, facilitate dispute resolution, or guide the parties to a common understanding. However, settlement agreements do not come without...more

Wealth Management Update - August 2021

Proskauer Rose LLP on 8/30/2021

Federal interest rates were largely stable in August of 2021.The August applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a...more

Business Divorce: Court Affirms Jury Finding That A Manager Did Not Breach Her Fiduciary Duties

Winstead PC on 7/29/2021

In Trinh v. Cent. River Healthcare Group, a brother sued his sister over the management of a PLLC. No. 03-19-00393-CV, 2021 Tex. App. LEXIS 4542 (Tex. App.—Austin June 9, 2021, no pet. history). The brother claimed that the...more

Recent Cases of Interest to Fiduciaries August 2019

McGuireWoods LLP on 8/13/2019

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: Smith...more

Understanding a Personal Representative

Foodman CPAs & Advisors on 4/15/2019

A Personal Representative (PR) is in charge of the property (estate) of an individual who has died (known as the decedent). When a person passes away, their assets become property of their estate....more

Personal Representatives and Fiduciaries: Executors, Administrators and Trustees and Their Duties

White and Williams LLP on 1/30/2019

The death of a loved one or close friend is a traumatic experience. In addition to the emotional anguish, those who are charged with dealing with the decedent’s personal and financial affairs following death are often left...more

Minority Shareholders Are Fiduciaries Too

Holland & Hart LLP on 10/16/2018

Often, a closely-held company comprises a large portion of a person’s wealth. In some instances, the company initially generated much of the person’s wealth. And in others, the company is formed as a vehicle to pass wealth...more

Prudently Investing: What Trustees Need to Know

Holland & Hart LLP on 5/8/2018

Acting in the best interests of the trust and the trust beneficiaries, a trustee has the duty to protect and preserve trust assets and, generally, to make the assets productive. In making investment decisions and managing...more

ERISA Newsletter - Fourth Quarter 2017

Proskauer Rose LLP on 1/9/2018

Editor's Overview - For over two decades, federal law has required covered health plans and insurers to ensure that certain mental health benefits are in parity with offered medical/surgical benefits. The meaning of...more

For What Does It Profit A Man To Save His Partnership Yet Forfeit His Ability To Pay His Taxes?

Farrell Fritz, P.C. on 12/28/2016

According to statistical data released by the IRS earlier this year, the examination rate for partnership tax returns has been increasing significantly over the last couple of years; of course, this includes returns filed by...more

Recaps from Proskauer’s 21st Annual Trick of Treat Tax Exempt Seminar

Proskauer - Not for Profit/Exempt... on 11/2/2016

Proskauer’s 21st Annual Trick or Treat Seminar was held on Thursday, October 27. The Seminar discussed: Best Practices for Document Retention: One Size Does Not Fit All...more

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on 7/25/2016

In the Matter of Estate of Leon C. Chamberlain, 135 A.D.3d 1052 (N.Y. App. Div. Jan. 7, 2016) - Modification of trust terms is appropriate where limitations on investments permitted under trust instrument frustrated the...more

Wealth Management Update - June 2016

Proskauer Rose LLP on 6/2/2016

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

The ERISA Litigation Newsletter - September 2015

Proskauer Rose LLP on 9/29/2015

Editor's Overview - It has been a little more than one year since the U.S. Supreme Court altered the legal landscape for litigating ERISA breach of fiduciary duty claims relating to the investment in employer stock...more

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on 8/1/2015

In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

Tax Law

Foley & Lardner LLP on 6/12/2015

In This Chapter: Tax Law: Annual Survey of Wisconsin Law - - Case Law - Statutory Developments - Administrative Developments - Excerpt from Case Law: Individual and Fiduciary Income Tax - ...more

If The Tax Withholding Is Wrong, Don’t Rely On The Employer To Fix It – Part 2

Stinson - Benefits Notes Blog on 8/8/2013

Over a year ago I blogged about the situation of former employees of Verizon who had never worked or resided in the United States but who had U.S. income taxes withheld from payments under benefit plans in which they...more

Fiduciary Duties In Oil Patch Deals

Jackson Walker on 7/22/2013

I. GENERAL. A. Introduction. In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation •...more

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Income Taxes › Fiduciary Duty

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