Joint Committee on Taxation: Overview of the Federal Tax System

JULY 2, 2022 ~ NICHOLAS CHUCKAS The Joint Committee on Taxation issued an overview of the Federal Tax System as in effect for 2022 on June 28th. The summary is as follows: The current Federal tax system has four main elements: (1) an income tax on individuals, estates, trusts, and corporations (which consists of both … Continue reading Joint Committee on Taxation: Overview of the Federal Tax System

Barron’s: Here’s How Much the Average Working Boomer Has Saved for Retirement (June 23, 2022)

JUNE 25, 2022 ~ NICHOLAS CHUCKAS Marin Larkin has published an article on Barron's, entitled "Here's How Much the Average Working Boomer Has Saved for Retirement." The article begins as follows: The first is a survey of 1,000 working Americans conducted recently showing much, or little, they have saved for retirement. And the picture isn’t … Continue reading Barron’s: Here’s How Much the Average Working Boomer Has Saved for Retirement (June 23, 2022)

Oxford University Press: Freedom of Testamentary Disposition (June 14, 2022)

JUNE 23, 2022 ~ NICHOLAS CHUCKAS Paul B. Miller, in his New York Times article, discusses defenses for the wide testamentary freedom offered by American law. The abstract is as follows: American law is notoriously solicitous of property owners’ testamentary freedom. Interpretive theorists cannot but acknowledge its centrality to enabling law. Yet freedom of testamentary … Continue reading Oxford University Press: Freedom of Testamentary Disposition (June 14, 2022)

Ray Dalio: Reducing Inflation Will Come at a Great Cost: Stagflation (June 21, 2022)

JUNE 22, 2022 ~ NICHOLAS CHUCKAS Ray Dalio published an article to LinkedIn, titled "Reducing Inflation Will Come at a Great Cost: Stagflation," which discusses the downsides of reducing inflation. The article begins as follows: For me, hearing supposed “experts” talk about what’s now happening in the markets and economy is like listening to nails … Continue reading Ray Dalio: Reducing Inflation Will Come at a Great Cost: Stagflation (June 21, 2022)

Iowa Supreme Court: Surviving Settlor Cannot Modify Irrevocable Trust Without Court Approval (May 19, 2022)

MAY 22, 2022 ~ NICHOLAS CHUCKAS Probate Stars discusses the Iowa Supreme Court's decision in Little v. Davis to uphold the decision of the district court that a surviving settlor of an irrevocable trust cannot, even with the consent of all beneficiaries, modify the dispositive terms of an irrevocable trust without court approval. Donald and … Continue reading Iowa Supreme Court: Surviving Settlor Cannot Modify Irrevocable Trust Without Court Approval (May 19, 2022)

Holland & Knight Alert: Planning for the Future: Estate and Tax Planning with Digital Assets (June 10, 2022)

June 18, 2022 ~ Nicholas Chuckas Matt E. Kirk of Holland & Knight LLP has made available for download his article, "Planning for the Future: Estate and Tax Planning with Digital Assets" published as a Holland & Knight Alert. The article begins as follows Cryptocurrencies are becoming a larger component of investors' portfolios, especially for … Continue reading Holland & Knight Alert: Planning for the Future: Estate and Tax Planning with Digital Assets (June 10, 2022)