• Newsletter

    Wealth Management Update

    December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Fifth Circuit Court of Appeals Upholds Finding of Gift Tax Deficiencies After Taxpayer's Failed Attempt to Use Self-Adjusting Formula Clauses. Mary P. Nelson et al. v. Commissioner (5th Cir., No. 20-61068, November 3, 2021)
     
    Federal District Court Imposed Constructive Trust Over Estate Assets and Granted a Temporary Injunction Preventing Estate Dispositions Based on Allegations of Decedent's Embezzlement From Employer. Van Horn, Metz & Co. v. Crisafulli, 2021 WL 4317186 (D.N.J. Sept. 23, 2021)
     
    New York's Second Department Affirms Order Denying Probate Based on Lack of Testamentary Capacity and Undue Influence. Matter of Falkowsky, 197 A.D.3d 1300 (N.Y. 2d Dept., September 29, 2021)

    December 2021

  • Newsletter

    Wealth Management Update

    November 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Buck v. U.S. (DC CT, 128 AFTR 2d) — Discounts for Fractional Interests
     
    Arlene Williams-Paris v. April Nelle Joseph, Priscilla Paris-Austin, Theodore Paris, and Samuel Paris — Morning of the Marriage Premarital Agreement Held Enforceable
     
    PLR 202139005 — Inadvertent Termination of S Corporation

    November 2021

  • Newsletter

    Wealth Management Update

    October 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    In re Gerald F. Johnson Revocable Trust, No. 351134, 2021 Mich. App. LEXIS 3732 (Ct. App. June 17, 2021) – Unintended Waiver of Ex-Spouse's Creditor Rights
     
    Estate of Wall, No. C087730, 2021 WL 3732360 (Cal. Ct. App. Aug. 24, 2021) – Community Property Presumption Prevails Over Title Presumption in Actions Between Spouses, Not After Death
     
    Giller v. Grossman, No. 3D19-2514, 2021 WL 3889320 (Fla. Dist. Ct. App. Sept. 1, 2021) – Children are Intended Beneficiaries in Dispute Over Trust Language

    October 2021

  • Newsletter

    Wealth Management Update

    September 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Ellis v. Hurley – No. B3000799, 2020 WL 6816605 (Cal. Ct. App.) – California Court of Appeal, Second District Case on the Definition of a Grandchild
     
    In the Matter of the Appeal of J. Bracamonte and J. Bracamonte (OTA Case No. 18010932) Change of Domicile
     
    IRS News Release: EIN Holders Must Update Responsible Party Contact Information (IRC §6109)
     
    Estate of Kwang Lee v. Commissioner (TC Memo 2021-92) Executor personally liable for estate taxes because he made distributions of estate assets knowing that the estate owed the taxes

    September 2021

  • Newsletter

    Wealth Management Update

    August 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts AFRs
     
    Update on Federal Legislation
     
    State Tax Cuts
     
    Pinkert v. Schwab Charitable Fund (N.D. Cal., Case No. 20-cv-07657-LB)
     
    In the Matter of the Consolidated Appeals of O. Cremel and E. Koeppel (OTA Case Nos. 18042625 & 20076340)
     
    Estate of Michael J. Jackson v. Commissioner (Tax Court, May 3, 2021)

    August 2021

  • Newsletter

    Wealth Management Update

    July 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs
     
    President Biden's 2022 Budget/Biden Administration Revenue Proposals for 2022
     
    New Rule Against Perpetuities in Texas
     
    Estate of Grossman v. Commissioner, T.C. Memo 2021-65 (May 27, 2021)

    July 2021

  • Newsletter

    Wealth Management Update

    June 2021 Interest Rates for Sales to Defective Grantor Trusts, Intra-Family Loans, Split-Interest Charitable Trusts and GRATs
     
    American Families Plan (AFP)
     
    Revision of Publication 590-B
     
    Chief Counsel Memorandum 202118008
     
    In the Matter of the Petition of Boniface, N.Y. Div. of Tax Appeals, ALJ, Dkt No. 829018, 04/29/2021

    June 2021

  • Newsletter

    Wealth Management Update

    April 2021 Interest Rates for Sales to Defective Grantor Trusts, Intra-Family Loans, Split-Interest Charitable Trusts and GRATs
     
    Extend the Time to File 2020 Gift Tax Returns (Form 709) Before April 15, 2021
     
    Estate of Miriam M. Warne vs. Comm'r (T.C. Memo 2021-17)

    April 2021

  • Newsletter

    Wealth Management Update

    March 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Habal v. Habal, So.3d, 2020 WL 5372289 (Fla. 4th DCA September 9, 2020): Revocable Trusts are difficult to attack on capacity grounds
     
    Matter of Ryan, 2021 NY Slip Op 21010 (N.Y. Sur. Ct. Broome County Jan. 25, 2021): First case in New York admitting remotely notarized Will to probate
     
    Sells, et al. v. Commissioner, T.C. Memo. 2021-12 (January 28, 2021): Tax Court denies conservation easement

    March 2021

  • Newsletter

    Wealth Management Update

    February 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    New York Post-Mortem Right of Publicity
     
    Demircan v. Mikhaylov, 2020 WL 2550067 (Fla. 3d DCA May 20, 2020)
     
    New York Power of Attorney

    February 2021