• Newsletter

    Wealth Management Update

    September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intrafamily Loans and Split Interest Charitable Trusts
     
    New York's Department of Taxation and Finance Confirms that Any New York Source Income will Subject All of a New York Resident Trust's Income to New York State Income Tax. TSB-A-20(2)(I) (Feb. 4, 2020)
     
    Florida's 3rd District Court of Appeals Holds that the Settlor and Sole Current Beneficiary of a Self-Settled Irrevocable Trust May be Removed as Trustee by the Court under Florida's Uniform Trust Code. Wallace v. Comprehensive Personal Care Services, Inc. (Fla. 3d D.C.A., June 3, 2020)

    September 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

    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

    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

    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


    September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    Disregarded Entities Owned by Nonresidents Will Be Disregarded for New York Estate Tax Purposes
    New York City's New Reporting Requirements for Partnerships and LLCs Acquiring Real Estate
    District Court Dismisses Policyholders' Lawsuit against Carrier Engaged in "Shadow Insurance" Transactions
    Consistent Basis Reporting under New Internal Revenue Code Sections 1014(f) and 6035

    September 2015

  • Newsletter

    Wealth Management Update


    November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    2016 Annual Gift Exclusion
    2016 Gift and Estate Tax Exemption Amount
    Tax Court Upholds Valuation Discount on "Net Net Gift" (Steinberg v. Commissioner, 145 T.C. No. 7 (September 16, 2015))
    IRS Memorandum Illustrates Importance of Adequately Describing and Valuing Reportable Gifts (Legal Advice Issued by Field Attorneys 201522001F (March 13, 2015)) 
    Massachusetts Appeals Court Includes Irrevocable Trust for Husband in Division of Assets in Divorce (Pfannenstiehl v. Pfannenstiehl, Nos. 13-P-906, 13-P-686 & 13-P-1385 (Mass. App. Ct. Aug. 27, 2015))

    November 2015

  • Newsletter

    Wealth Management Update


    September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
    Estate of Franklin Z. Adell v. Commissioner, T.C. Memo. 2014-155, 2014 WL 3819046 (Aug. 4, 2014)
    United States v. Baileys, Case No: 8:13-CV-966-JLS
    Private Letter Ruling 201427008 (July 3, 2014)

    September 2014

  • 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 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