Personal Planning Strategies

Estate, Gift and GST Tax Update
 
New York Basic Exclusion Amount to Increase in 2026
 
The New York LLC Transparency Act — What Business Owners Need to Know

on December 2025

Wealth Management Update

November 2025 AFRs and 7520 Rate
 
The New York LLC Transparency Act
 
Estate of Rowland v. Commissioner, T.C. Memo. 2025-76 (July 15, 2025)
 
Young v. Commissioner, T.C. Memo. 2025-95 (Sept. 22, 2025)
 
Private Letter Ruling 202538004 (June 13, 2025; released Sept. 19, 2025)
 
Private Letter Ruling 202538016 (June 10, 2025; released Sept. 19, 2025)
 
Private Letter Ruling 202538001 (June 24, 2025; released Sept. 19, 2025)
 
Daniels v. Commissioner of Revenue Services (Conn. Super. Ct., Oct. 15, 2024)

on November 2025

Novel Fiduciary Liability Risks Under the CTA

From Probate & Property on November/December 2024

Wealth Management Update

September 2024 AFRs and 7520 Rate
 
In the Matter of the Niki and Darren Irrevocable Trust and the N and D Delaware Irrevocable Trust, No. 2019-0302-SG (Del. Ch., July 24, 2024) – Delaware Court of Chancery Holds Trust Decanting Void Due to Noncompliance with Statutory Requirements
 
Conn. Pub. Act No. 24-104 – Connecticut Uniform Trust Decanting Act
 
Florida Bar Trust Law Committee – Legislative Proposal Re: Amendment to Decanting Statute
 
Neal v. Lamb-Ferrara, 2024 Fla. App. LEXIS 4172 (Fla. Ct. App., 3d Dist., May 29, 2024) - Warning to Out of State Lawyers Who Advise Florida Residents on Trust/Estate Planning and Administration Matters
 
ABA Formal Ethics Opinion 511R – Confidentiality Obligations of Lawyers Posting to Listservs
 
Conley v. Conley (In re Conley Trust), No. 366180 (Mich. Ct. App., July 18, 2024) – Michigan Court Holds Beneficiaries Properly Issued K-1s in Connection with Transfer Made Pursuant to a Trust Settlement Agreement
 
FedEx Corp. v. United States, W.D. Tenn., No. 2:20-cv-02794 – District Court Requests Supplemental Briefing on Impact of Loper Bright Doctrine in a Federal Tax Case; Taxpayer and Government Unsurprisingly Disagree
 
IRS Promulgates Final Regulations and Additional Proposed Regulations with Respect to Required Minimum Distributions from Qualified Retirement Accounts

on September 2024

Modification of Grantor Trust to Include an Income Tax Reimbursement Provision Can Result in a Taxable Gift

From Leimberg Information Services Inc. on January 3, 2024

Wealth Management Update

August 2023 AFRs and 7520 Rate
 
California Passes Law Taxing Incomplete Gift Non-Grantor Trusts in Same Manner as Grantor Trusts – S.B. 131
 
Estate of Hoensheid v. Comm'r, No. 18606-19, T.C. Memo. 2023-34 (Mar. 15, 2023)
 
Suzanne Montes v. Commissioner, No. 17332-21 (U.S. Tax Ct., June 29, 2023)
 
Yost v. Carroll, No. 20-C-5393 (N.D. Ill., Nov. 18, 2022)
 
Glade Creek Partners LLC et al. v. Commissioner, No. 22272-17, T.C. Memo. 2023-82 (June 29, 2023)
 
Estate of Susan R. Block et al. v. Commissioner, No. 10618-19, T.C. Memo. 2023-30 (Mar. 13, 2023)
 
Donald E. Swanson v. Commissioner, No. 21701-18, T.C. Memo. 2023-81 (June 29, 2023)
 
Scot Thompson Farms LLC v. HAP Holdings Trust et al., No. 8:23-cv-00025 (D. Neb., June 21, 2023)

on August 2023

Worth It Episode 10: You Can Turn Your Home Into Major Estate Tax Savings

on June 13, 2023

Proskauer Honors Public Service at the 15th Annual Golden Gavel Awards

From Proskauer For Good on February 16, 2023

Wealth Management Update

January 2023 AFRs and 7520 Rate
 
New York Estate Tax – 2023 Basic Exclusion Amount
 
Massachusetts Millionaires Tax
 
Alejandro J. Rojas et al. v. Commissioner, No. 7453-19, T.C. Memo. 2022-77 (July 18, 2022)
 
Jennifer Joy Fields et al. v. Commissioner, No. 2925-20S, T.C. Summary Op. 2022-22 (November 10, 2022)
 
Estate of William E. DeMuth, Jr. v. Commissioner, No. 18724-19, T.C. Memo. 2022-72 (July 12, 2022)
 
Betty Amos v. Commissioner, No. 4331-18, T.C. Memo. 2022-109 (Nov. 10, 2022)
 
PLR 202247004
 
Proposed Treasury Regulations – REG-106134-22, Syndicated Conservation Easement Transactions as Listed Transactions (Dec. 6, 2022)
 
U.S. Treasury Department, 2022-2023 Priority Guidance Plan (Nov. 4, 2022)
 
Matter of Walls, No. 2021-1074/A, 2022 NY Slip Op 51165(U) (Monroe Cty. Surr. Ct., Nov. 29, 2022)

on January 2023

Worth It Episode 8: Decanting to Modify an Existing Irrevocable Trust

on August 1, 2022