Wealth Management Update

The June Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 3.6%, an increase from the May rate of 3.0%
 
IRS Proposes Limits on Large Gifts from Future Estates
 
International Estate Planning and Brussels IV

on June 2022

Wealth Management Update

May 2022 Interest Rates for GRATS, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
 
NY Remote Notarization Statute Amendment
 
2022 Greenbook Proposals
 
DOL Cryptocurrency - Compliance Assistance Release No. 2022-01

on May 2022

Wealth Management Update

IApril 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
 
Estate of Marion Levine v. Commissioner (158 T.C. No.2)
 
IRS Issues Proposed Required Minimum Distribution Regulations for Retirement Plans
 
IRS Overpayment and Underpayment Interest Rate Increased

on April 2022

Wealth Management Update

March 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
 
Disclosure of Revocable Trusts on Surrogate's Court Probate Petitions
 
Change in New York Residency Audit Guidelines
 
New York's Remote Notarization Statute

on March 2022

Personal Planning Strategies

Act Now Before the Window of Opportunity Closes

on October 2021

Wealth Management Update

October 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
 
In re Gerald F. Johnson Revocable Trust, No. 351134, 2021 Mich. App. LEXIS 3732 (Ct. App. June 17, 2021) – Unintended Waiver of Ex-Spouse's Creditor Rights
 
Estate of Wall, No. C087730, 2021 WL 3732360 (Cal. Ct. App. Aug. 24, 2021) – Community Property Presumption Prevails Over Title Presumption in Actions Between Spouses, Not After Death
 
Giller v. Grossman, No. 3D19-2514, 2021 WL 3889320 (Fla. Dist. Ct. App. Sept. 1, 2021) – Children are Intended Beneficiaries in Dispute Over Trust Language

on October 2021

Personal Planning Strategies

Last Call for SLATs, GRATs, and the Use of the Enhanced Gift Tax Exemption?

on September 2021

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

on September 2021

178 Proskauer Lawyers Recognized by 'The Best Lawyers in America' 2022 Awards List

From Best Lawyers on August 19, 2021

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)

on August 2021