By Nicholas J. Bertha IN A CLASSIC IRONY, WE NOW FIND OURSELVES IN PERHAPS THE MOST ATTRACTIVE WEALTH TRANSFER ENVIRONMENT OF OUR LIFETIMES. THE REASONS ARE TWO-FOLD. FIRST, A PAIR OF INTEREST RATES THAT ARE NOW AT THEIR LOWEST LEVELS IN HISTORY, MAKING IT EASIER FOR SEVERAL OF THE MOST WIDELY USED WEALTH TRANSFER TACTICS … Continue reading What’s the Upside in a Downturn? —Today’s Environment Has Created Once-in-a-lifetime Wealth Planning Opportunities
By Michael B. Greenwald It is already evident that coronavirus has triggered a deeper recession than that of the Global Financial Crisis. Much like the latter, monetary authorities at the Federal Reserve have undertaken unprecedented actions to support liquidity in global markets. These steps have included support for domestic debt markets, including a recent expansion … Continue reading What COVID-19 Means for America’s Economic and Financial Statecraft
By Kevin Matz On December 19, 2019, the U.S. Department of Treasury and the Internal Revenue Service (collectively, “the Treasury Department”) released long-awaited final regulations on qualified opportunity funds (“QOFs”) (the “final regulations”). The final regulations come on the heels of two tranches of proposed regulations, which generated more than 300 comment letters from organizations … Continue reading How the Final Regulations on Qualified Opportunity Funds Come Out on Trust and Estate Related Issues
By Nicole Pursley The Tax Cuts and Jobs Act of 2017 (the Tax Act) made significant changes to the United States Tax Code, with implications on virtually all areas of taxation, including some that affect fiduciaries. This article provides a broad overview of some tax implications that may be of importance to trust and estate … Continue reading Tax Reform Implications for Fiduciaries
by Clark Merrefield, Journalist's ResourceJanuary 14, 2020 Every tax season people try to get out of paying the full share of what they owe the U.S. government in income taxes. The Internal Revenue service usually starts accepting tax returns in late January and returns typically need to be filed by April 15. Here are a … Continue reading Clark Merrefield, Journalist’s Resource: Federal Tax Evasion: Why It Matters and Who Does It (Jan. 14, 2020).
By Lisa C. Henry & Francis J. Rondoni Chestnut Cambronne PA Minneapolis, Minnesota1 2 With the recent trend to sue anyone and everyone, practitioners should be aware of potential liability for their client’s acts. Along with claims for malpractice, courts are coming around to considering a legal practitioner being liable for his or her role in … Continue reading What Do You Mean I Cannot Take that Money? Duties, Responsibilities, and Ethics for Fiduciaries and the Attorneys Who Advise Them
CONSIDERATIONS INVOLVING FIDUCIARY SELECTION By Stuart C. Bear Chestnut Cambronne Minneapolis, Minnesota 1 2 Fiduciary selection is crucial to the success of an estate and disability plan. Even a great plan can go awry if a fiduciary fails to uphold his or her fiduciary duties or fails to follow the terms of the Will or Trust. Add family … Continue reading Why Can’t My Brother-In-Law Bob Be the Executor of My Estate?