News & Analysis as of

Limited Liability Company (LLC) Wealth Management

Conyers

The Impact of Cayman’s Revised Beneficial Ownership Regime on Trusts and Private Wealth Structures

Conyers on

The Cayman Islands is in the process of implementing fundamental changes to its beneficial ownership regime. Most significantly, these include the removal of exemptions applicable under the previous regime, as well as more...more

Levenfeld Pearlstein, LLC

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with...more

Farrell Fritz, P.C.

The Nutmeg State Out Front on Member Inspection Rights Under RULLCA

Farrell Fritz, P.C. on

For the second time in two years, the Connecticut Supreme Court has ventured into uncharted waters of LLC governance under the Revised Uniform LLC Act which, to date, has been adopted by 22 states and awaits legislative...more

Adler Pollock & Sheehan P.C.

Protecting Business Wealth From Creditors

If you’re a business owner, you’ve likely worked long and hard to achieve your goals. It would be a shame if creditors were able to reach your assets before you’ve transferred wealth to the younger generation. Fortunately,...more

BCLP

US/UK tax series: US citizens moving to the UK

BCLP on

If you are a US citizen who is becoming UK resident you will continue to be subject to US tax and reporting obligations but will also become subject to UK tax. Although there is a double tax treaty between the US and the UK...more

McDermott Will & Emery

Wyoming Updates Its Trust Company Legislation, Allows for Two-Family Private Trust Companies

McDermott Will & Emery on

Wyoming is one of the few states that authorize by statute private trust companies that serve a single family and trust companies that serve the general public. Effective July 1, 2019, House Bill 0030 updates the laws...more

Proskauer Rose LLP

Wealth Management Update - March 2018

Proskauer Rose LLP on

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

Bradley Arant Boult Cummings LLP

Recent Rulings on “Family Limited Liability Entity” Election Create Traps for the Unwary

Although every LLC, limited partnership or other pass-through entity doing business in Alabama, and even those simply organized under Alabama law, are subject to an annual business privilege tax (BPT), certain entities can...more

Neal, Gerber & Eisenberg LLP

IRS Proposes Regulations That Would Eliminate Most Valuation Discounts for Transfers of Interests in Family Entities

The Internal Revenue Service (IRS) released regulations on August 2, 2016 that would limit the use of discounts when valuing interests in family entities for estate, gift and generation-skipping transfer tax purposes. If...more

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