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  • Newsletter

    Wealth Management Update

    September 2023 AFRs and 7520 Rate
     
    More Large Inflation Adjustments Are in Store for 2024 and 2025
     
    IRS Notice 2023-54: Transition Relief and Guidance Relating to Certain RMDs
     
    Estate of Demuth v. Comm'r: Checks Delivered Before, but Deposited After Decedent's Death, are Includable in Decedent's Estate
     
    Schaddelee v. Deleon: Using a General Assignment as a "Catch All" for Irrevocable Trust Funding Does Not Supersede a Beneficiary Designation
     
    Matter of Wells: Unsuccessful Attempt at Probating a Conformed Copy of a Will
     
    Matter of Fakhra: Renunciations are Irrevocable, and They Do Not Need to be Physically Served

    September 2023

  • Newsletter

    Wealth Management Update

    November Interest Rates for GRATS, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    In re IMO Amelia Noel Living Trust, Del. Ch. August 16, 2022, aff’d, 293 A.3d 1000 (Del. 2023)
     
    In re the Trust of Eva Marie Hanson Living Trust dated December 11, 1995 (Minn. Ct. App. Jan. 30, 2023)
     
    Glynn v. Kenney, 884 S.E.2d 259 (Va. Ct. App. 2023)
     
    James v. Mounts, 660 S.W.3d 801 (Ark. 2023)
     
    PLR 202339008

    November 2023

  • Newsletter

    Wealth Management Update

    January 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    REG-142338-07 – Proposed Regulations Related to Donor Advised Funds
     
    Eileen Gonzalez et al v. Luis O. Chiong et al (Sep. 19, 2023)
     
    IR-2023-185 (Oct 5, 2023)
     
    New York Public Health Law amended to permit remote witnesses for health care proxies (Nov 17, 2023)
     
    Small Business Succession Planning Act Introduced (Oct 12, 2023)

    January 2024

  • Newsletter

    Wealth Management Update

    Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting
     
    December 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Jones v. Jones (Mass. App. Ct. 2023)
     
    Estate of Caan v. Commissioner, 161 T.C. No. 6
     
    In re Estate of Anna Brudek

    December 2023

  • 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

    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

    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

    July 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intrafamily Loans and Split-Interest Charitable Trusts
     
    Precious Metals Now Deemed Tangible Personal Property in Florida
     
    The Tax Court reiterates and applies the factors for determining whether intrafamily loans are, in fact, loans in Estate of Bolles v. Commissioner, T.C. Memo 2020-71 (2020)
     
    In Goodrich, et al. v. USA, 125 AFTR 2d 2020-1276 (DC LA, 3/17/2020), the U.S. District Court for the Western District of Louisiana sends a reminder that state substantive law can sometimes determine federal tax consequences
     
    California Bill A.B. 2936 may indicate increased scrutiny, or even regulation, of donor advised funds
     
    COVID-19 Update

    July 2020

  • Newsletter

    Wealth Management Update


    May Interest Rates Fall for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    IRS Wins Another Family Limited Partnership ("FLP") Case
    Five-percent Discount for Interest in Art collection Found Proper
    IRS Announces New Voluntary Disclosure Program for Unreported Foreign Accounts
    Florida Appellate Court Reviews Proper Will Execution Formalities
    Supreme Court Finds Former Spouse is Beneficiary of Retirement Plan
    Treasury Issues Tax Guidance on Madoff Losses

    May 2009