• Newsletter

    Wealth Management Update

    January 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    California Franchise Tax Board Proposes Legislation for the Taxation of Income from Incomplete Non Grantor (ING) Trusts to Treat ING Trusts as Grantor Trusts-Legislative Proposal C adding new Section 17082 to the Revenue and Tax Code
     
    Chief Counsel Advice 202045011
     
    Florida's Constitutional Amendment 5 and Constitutional Amendment 6 Approved in 2020 General Election
     
    U.S. v. Wolin 126 AFTR 2d 2020-6348 (September 28, 2020)—FBAR Penalty Survives Decedent's Death

    January 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

    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

    November 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs
     
    Artificial Gifts, New York State Estate Tax Deduction Inconsistency and Anti-Abuse Rules
     
    Gomez v. Smith, 54 Cal.App.5th 1016 (COA, 3d Dist. Sept. 22, 2020)

    November 2020

  • Newsletter

    Wealth Management Update

    December 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs
     
    Federal and State Elections Reshape Tax Policy
     
    Lucero v. Commissioner, T.C. Memo 2020-136 (Tax Court, Sept. 29, 2020)
     
    Notice 2020-75
     
    California's Proposition 19

    December 2020

  • Newsletter

    Wealth Management Update

    October 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
     
    Jon Dickinson et ux. v. Commissioner, T.C. Memo 2020-128 – Donations of Stock to Donor Advised Fund Were Not Taxable Redemptions
     
    Estate of Mary P. Bowles, et al. v. Commissioner, T.C. Memo 2020-71 (June 1, 2020) – Characterization of a Loan as a Gift
     
    James C. Nelson et ux. v. Commissioner, T.C. Memo. 2020-81 – Transfer of Limited Partnership Interests by Fixed Dollar or Percentage Interests

    October 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