Singer & Stone: A Taxing Dilemma – Encouraging clients to take advantage of the increased exemption

The exclusion from the United States gift and estate tax has been increased to $10 million (adjusted for inflation, $11.4 million in 2019) for both taxable gifts made after 2017 and estates of decedents dying after 2017. However, at the end of 2025, the increased exemption will expire as the exclusion from the U.S. gift … Continue reading Singer & Stone: A Taxing Dilemma – Encouraging clients to take advantage of the increased exemption

Whitworth: PA Inheritance Tax Rate Reduced to 0% for Parent to Child 21 and Under

On June 28, 2019, Pennsylvania Governor Tom Wolf approved HB 262, which effectively reduces the inheritance tax rate to 0% so long as the property is transferred from a parent — whether natural, adoptive, or step — or transferred for the benefit of a child age 21 or under.  Presumably, reporting requirements will remain the … Continue reading Whitworth: PA Inheritance Tax Rate Reduced to 0% for Parent to Child 21 and Under

Jenkins & Rauch: Indiana Court of Appeals Opinion Reminds Trustees to Be Transparent and Careful in Accountings

The Indiana Court of Appeals opinion in Montgomery v. Estate of Montgomery reminds trustees of the importance of being transparent and careful in accordance with statutory requirements when preparing trust and estate accountings. The Indiana Court of Appeals analysis set forth a variety of statutory obligations for trustees and estate personal representatives when preparing an accounting and … Continue reading Jenkins & Rauch: Indiana Court of Appeals Opinion Reminds Trustees to Be Transparent and Careful in Accountings

Jessica Zhang

Associate Editor jessica.zhang@lewissaret.com Jessica is currently a Junior at Johns Hopkins University, double-majoring in International Studies and Economics and minoring in Social Policy. She has held summer internships at a criminal justice nonprofit in Baltimore City and at a progressive opposition research firm in Washington, DC. She is currently a Paralegal at the Law Office … Continue reading Jessica Zhang

Higdon, Parens Patriae and the Disinherited Child

Michael J. Higdon, University of Tennessee College of Law, has made available his article, Parens Patriae and the Disinherited Child. The Abstract is as follows: Most countries have safeguards in place to protect children from disinheritance. The United States is not one of them. Since its founding, America has clung tightly to the ideal of … Continue reading Higdon, Parens Patriae and the Disinherited Child

Gordon, Engendering Trust

Professor Deborah S. Gordon, Drexel University, Thomas R. Kline School of Law, has made available for download her article, Engendering Trust, published in the Wisconsin Law Review. The Abstract is as follows: This article, part of a Wills, Trusts, and Estates Meets Gender, Race, and Class Symposium, explores the relationship between trusts and gender by … Continue reading Gordon, Engendering Trust

Draft 2019 Form 1040 + Schedules Released

The IRS has released its draft 2019 Form 1040 along with associated schedules. See draft 1040 and schedules by clicking links below: Form 1040 (Schedule 8812)Additional Child Tax CreditForm 1040 (Schedule R)Credit for the Elderly or the DisabledForm 1040-SRU.S. Tax Return for SeniorsForm 1040-NR-EZU.S. Income Tax Return for Certain Nonresident Aliens With No DependentsForm 1040 … Continue reading Draft 2019 Form 1040 + Schedules Released