On December 12, 2022, the Minnesota Tax Court released an opinion in Estate of Anderson v. Commissioner of Revenue addressing the constitutionality of Minnesota’s estate tax structure as applied to an estate that consisted...more
Bank accounts, life insurance, investments, furniture, jewelry, art and collectibles are among the many assets to consider when planning your estate. However, your home and other real estate may be among the most valuable and...more
Taking care of a parent can be a full-time job. Children may have to give up paying jobs in order to provide care to aging parents. Unfortunately, caregiving is usually unpaid work. Parents who want to compensate a child who...more
The new limitation of the federal deduction for state income taxes to $10,000 has heightened interest in planning for state income taxes. Thoughtful practitioners who assist clients in establishing non-grantor trusts should...more
On Friday, February 15, 2019, Governor Northam approved House Bill 2526 (“HB2526”), which will change the definition of “resident estate or trust” to no longer include an estate or trust being administered in the...more
Individual and corporate citizens from countries around the world have moved to North Carolina and contributed materially to our state's economic, educational, and cultural growth. Foreign direct investment ("FDI") in North...more
TAXES ON ASSETS IN JURISDICTIONS WITH NO ESTATE TAXES - Since 2001, the Massachusetts Department of Revenue ("DOR") has held that persons in Massachusetts who pass away owning real estate or valuable tangibles located in...more
In This Presentation: - Basic Rules - Determination of Residency for Estate Tax purposes - Tax Rules - Estate and Gift Tax Treaties - Asset Situs Rules - Taxation of Life Insurance...more