• 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

    December 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
     
    United States v. Estate of Sidney Elson, 2019 WL 5061321 (D.N.J. Oct 9, 2019)
     
    Matter of Cleopatra Cameron Gift Tr., Dated May 26, 1998, 931 N.W.2d 244 (S.D. 2019) – South Dakota Supreme Court Protects Trusts from California Child Support Order
     
    Estate of Kollsman v. Comm'r of Internal Revenue, 777 F. App'x 870 (9th Cir. 2019)
     
    Hinds & Shankman, LLP v. Lapides, No. CV 18-10731-CJC(SKX), 2019 WL 4956148 (C.D. Cal. Oct. 8, 2019)
     
    New York State Department of Taxation TSB-M-19(2)R
     
    Final Regulations Issued for Certain Life Insurance Contract Transactions and Transfer for Valuable Consideration Rules
     
    PLR 201941023
     
    2020 Estate and Gift Tax Exemptions

    December 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

    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

    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


    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