• Newsletter

    Wealth Management Update

    February 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    Congress Enacts Significant Changes to Retirement Plans under the SECURE Act
     
    Placencia v. Strazicich, 42 Cal. App. 5th 730 (Cal. Ct. App. 2019) — California Court of Appeal Holds that Assets in Joint Account Should be Disposed of as Part of Decedent's Estate
     
    Matter of Sochurek, 174 A.D.3d 908 (NY App. Div. 2019) — New York Appellate Division Finds that Beneficiary Can Seek Fiduciary's Removal Without Triggering In Terrorem Clause
     
    Sibley v. Sibley, 273 So. 3d 1062 (Fla. Ct. App. 2019) — Florida Court of Appeal Holds that Residuary Disposition to Administratively Dissolved Private Foundation Failed

    February 2020

  • 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

    Assisting Your Clients In The COVID-19 World
     
    Funding Revocable (Living) Trusts
     
    Review Estate Planning Documents
     
    IRAs and Retirement Plans
     
    Estate Planning Opportunities

    April 2020

  • Newsletter

    Wealth Management Update

    March 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Gowdy v. Cook, 2003 WY 3, S-19-0005 (January 8, 2020) – Attempt to Decant Trust Triggers In Terrorem Clause
     
    Loube v. Commissioner of Internal Revenue, T.C. Memo 2020-3 – Denial of Charitable Deduction
     
    U.S. v. Marin – Transferee Liability

    March 2020

  • Newsletter

    Wealth Management Update

    May 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs
     
    PLRs 202013001, 202013002, 202013003, 202013004 and 202013005 (March 27, 2020)
     
    Estate of Streightoff v. Commissioner, 2020 BL 11889 (5th Cir. March 31, 2020)
     
    Estate of Moore v. Commissioner, T.C. Memo 2020-40 (April 7, 2020)

    May 2020

  • Newsletter

    Wealth Management Update


    June Interest Rates Rise for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    IRS Announces New Mortality Tables Under Section 7520
    IRS Issues Two Revenue Rulings on the Taxation of Life Settlements
    California and New York Tax Law Changes
    New York Recognizes Same Sex Spouse Inheritance Rights
    Holographic Will Denied Probate Due to Statutory Time Limit
    Will’s Estate Tax Provision Not Applicable to Witness Beneficiary

    June 2009

  • Newsletter

    Wealth Management Update


    November Interest Rates for GRATs, QPRTs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    IRS Friendly Family Limited Partnership Case – Malkin v. Commissioner, T.C. Memo 2009-212
    Delaware Court of Chancery Decision Has Implications for Trustee Accounting Actions – Merrill Lynch Trust Company, FSB v. Mary F.C. Campbell, et al., C.A. 1803-VCN, V.C. Noble (Delaware Court of Chancery, September 2, 2009)
    IRS Issues Proposed Rules Affecting Type III Supporting Organizations – IRS Proposed Regulations (REG-155929-06)
    Take Care in Drafting Estate Tax Apportionment Clauses – Boulis v. Blackburn, 34 Fla. L. Weekly D1567b (Fla. 4th DCA August 5, 2009)
    IRS Issues Guidance on 2009 Required Minimum Distribution Waiver – Notice 2009-82
    2009 Connecticut Estate and Gift Tax Legislation

    November 2009

  • Newsletter

    Wealth Management Update


    March Interest Rates Decrease Slightly for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    IRS Alerts Taxpayers that it Intends to Issue Guidance under Section 2511(c) – IRS Notice 2010-19 (February 16, 2010)
    Tax Court Finds Transfer of an Interest in a Limited Partnership and Timberland to an FLP Was Not Includible in the Decedent’s Gross Estate Under Section 2036(a)
    Haiti Earthquake Relief Donations Made Before March 1, 2010 May Be Deducted on 2009 Returns. IR News Release 2010-12 (January 25, 2010)
    The Ninth Circuit Holds That an IRA’s Named Beneficiaries, Rather Than the Decedent’s Wife, Were Entitled to the IRA Funds After His Death
    Surviving Spouse is not Treated as the Payee of the Decedent’s IRA
    Estate is Not Entitled to an Estate Tax Charitable Deduction for the Amount Received by a Charitable Trust

    March 2010

  • Newsletter

    Wealth Management Update


    May Interest Rates Increase Slightly for GRATs, Split Interest Charitable Trusts, Sales to Defective Grantor Trusts and Intra-Family Loans
    Federal District Court Finds Transfer of Interests in LLC to Children Does Not Qualify for the Annual Gift Tax Exclusion – Fisher v. Commissioner, No. 1:08-CV-00908 (March 11, 2010)
    8th Circuit Finds Limited Partnership’s Transfer Restrictions Disregarded when Valuing Stock for Gift Tax Purposes – Holman v. Commissioner, 2010 WL 1331270 (April 7, 2010)
    6th Circuit Finds Regulation Reasonable on Generation-Skipping Transfer Tax – Estate of Timken, 2010 WL 1253627 (April 2, 2010)
    The Tax Court Disallows Charitable Deductions and Imposes Accuracy-Related Penalties for Failure To Substantiate Equipment Donations
    IRS Extends Interim Relief to Trusts and Estates on Investment Advisory Costs - Notice 2010-32 

    May 2010

  • Newsletter

    Wealth Management Update


    November Interest Rates Remain the Same for GRATs but Decline for Sales to Defective Grantor Trusts, and Intra-Family Loans
    Changes in Florida Homestead Laws
    Estate of Stewart v. Commissioner, 2d Cir., No. 07-5370-ag (8/9/10) – Court finds Tax Court erred when it apportioned entire value of a Manhattan brownstone to a Decedent’s estate when Decedent transferred 49% of the property to her son a few years before her death
    United States v. MacIntyre, S.D. Tex., No. 10-2812, (complaint filed 8/6/10) – U.S. government sues estate and donees of J. Howard Marshall II for unpaid gift taxes
    Breakiron v. Guidonis, 2010 WL 3191794 (D. Mass. 8/10/2010) – Court rescinds nonqualified disclaimer and denies gift tax liability
    Estate of Stick v. Commissioner, T.C., No. 16383-08, T.C. Memo. 2010-192 (9/1/10) – Loan interest paid by Trust held nondeductible in decedent’s estate because it was unnecessary
    Estate of La Caer v. Commissioner, 135 T.C. No. 14 (9/7/2010) – Court limits amount that surviving spouse was entitled to claim for tax on prior transfers under §2013

    November 2010