• Newsletter

    Wealth Management Update

    November 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    Amendment to California Family Code Section 1615 — Seven Day Waiting Period Before Signing Premarital Agreement
     
    Rosenberg v. Commissioner, T.C. Memo 2019-124 — IRA Withdrawal After Divorce Transfer Includible in Income
     
    Chief Counsel Advice Memorandum CCA 201939002 — Value of Stock Must Take Into Consideration a Pending Merger

    November 2019

  • Newsletter

    Wealth Management Update

    October 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    The Tax Court blesses a "tax affected" appraisal in Estate of Aaron Jones v. Commissioner, T.C. Memo 2019-101
     
    The New York County Surrogate's Court continues to draw the boundaries of subject matter jurisdiction in Matter of Radio Drama, Opinion and Order (Sur. Ct., NY County, July 15, 2019)
     
    The Westchester County Surrogate's Court reminds estate planners to include digital assets provisions in Matter of Coleman's Estate, 63 Misc.3d 609 (Sur. Ct., Westchester County, New York, March 11, 2019)
     
    Soltani-Amadi v. Commissioner, T.C. Summary Opinion, 2019-19 (August 8, 2019) reminds planners to remember the differences between various types of retirement plans

    October 2019

  • Newsletter

    Wealth Management Update

    September 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    Levitan v. Rosen, 95 Mass. App. Ct. 248 (May 6, 2019) – Massachusetts Appeals Court Continues to Make Its Own Rules of Trust Law
     
    Oregon Legislature Enacts Unique Purpose Trust Statute (H.B. 2598)
     
    Alberhasky v. Alberhasky, 2019 WL 2150810 (Iowa Ct. App. May 15, 2019) – Iowa Court Warns that a Trustee May Owe Heightened Fiduciary Duties when a 529 Account Is Held in Trust

    September 2019

  • Newsletter

    Wealth Management Update

    August 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs
     
    Estate of Kollsman v. Commissioner of Internal Revenue, No. 18-70565 (June 21, 2019)
     
    Famiglio v. Famiglio, [TBD] So.3d [TBD] (May 10, 2019)
     
    In Re Rensin, 600 B.R. 870 (May 3, 2019)

    August 2019

  • Newsletter

    Wealth Management Update

    Supreme Court Ruling in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, 588 U.S. [TBD] and its Relevance to Income Taxation of Accumulated Income in California Trusts
     
    July 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Blau et al. v. Commissioner of Internal Revenue, No. 17-1266 (May 24, 2019)
     
    An Update Regarding Connecticut's Uniform Trust Code
     
    Indiana Allows for Domestic Asset Protection Trusts
     
    PLRs 201919002 and 201919003 – IRC Section 2042

    July 2019

  • Newsletter

    Regulation Update

    FCA Warns Firms to Take Action on GI Distribution Failings

    April 15, 2019

  • Newsletter

    Wealth Management Update


    April Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    Florida Appellate Court Holds that "Strict Compliance with Signature Requirements" is Necessary for Execution of Will. Bitetzakis v. Bitetzakis, No. 2D17-4822, 2019 WL 405568 at *1 (Fla. Dist. Ct. App. Feb. 1, 2019).
    U.S. District Court Holds that No Discount is Allowed for Restriction on Transfer of Stock Where Taxpayer Provided No Evidence that Restriction Would be in Arms' Length Transaction. Kress v. United States, 123 AFTR 2d 2019-XXXX (E.D. Wis.) (March 26, 2019).
    IRS Rules that the Creation and Funding of an "ING" Trust Effectively Was a Non-Grantor Trust for Income Tax Purposes and an Incomplete Gift for Gift Tax Purposes. PLR 201908006.
    IRS Finds that a Sale Between Former Spouses More than Six Years After a Divorce is a Transfer Incident to Divorce for Income Tax Purposes and a Transfer for Full and Adequate Consideration for Gift Tax Purposes. PLR 201901003.
    NY State Legislature Enacts Various Tax Changes in Approving New Budget

    April 2019

  • Newsletter

    Wealth Management Update

    December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    U.S. Department of Treasury 2018-2019 Priority Guidance Plan
    Matter of Seiden, 2018 NY Slip Op. 32541(U) (Oct. 9, 2018)
    Private Letter Ruling 201845029
    In Case You Missed It: Sveen et al. v. Melin, 584 U.S. [TBD] (June 11, 2018)

    December 2018

  • Newsletter

    Personal Planning Strategies

    Estate, Gift and GST Tax Update
    Gift Tax Planning
    Make sure you take your IRA Required Minimum Distributions by December 31, 2018
    New Jersey Estate Tax Was Eliminated on January 1, 2018
    New York Raises Basic Exclusion Amount to $5,740,000
    Connecticut Raises Basic Exclusion Amount Passing Free From Estate and Gift tax to $3,600,000 in 2019
    Crummey Withdrawal Notices – Recommended Practices
    Annual Payment Checklist

    December 2018

  • Newsletter

    Wealth Management Update

    November 2018 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    Federal District Court holds that FBAR claims against a decedent can be brought against a distributee of the decedent's estateU.S. v. Schoenfeld, No. 3:16-cv-01248-J-34PDB (Middle Dist. Fla 9/25/2018)
    Settlement in Cahill case follows the Tax Court's implication that the estate tax value of an intergenerational split-dollar life insurance receivable could be equal to the cash surrender value of the underlying policyEstate of Richard Cahill, US Tax Court Docket No. 10451-16, Joint Stipulation of Settled Issues, August 16, 2018
    In the Matter of the Petition of Wiesen, Tax Appeals Tribunal, Dkt. No. 826284, 09/13/2018
    Tax Cuts and Jobs Act ("TCJA") – Changes to the Alimony Tax Regime Effective after December 31, 2018

    November 2018