Why Is There A Surge In Divorces After The Holidays?

During the holidays, many families struggle with these three questions: 1. Where will we be for the holidays? 2. Who will we be with? 3. How much will we spend? If a couple is not on the same page with respect to these issues, they tend to face a perfect storm that can bring out … Continue reading Why Is There A Surge In Divorces After The Holidays?

By Regina A. DeMeo: 3 Great Take Aways From Divorce

Imagine that one day someone tells you that you have to find a new place to live relying on only half your household income, while at the same time your assets are reduced by 50%. Be honest, no matter who you are that's going to hurt. To make matters worse, in addition to the huge … Continue reading By Regina A. DeMeo: 3 Great Take Aways From Divorce

By Regina DeMeo: 6 Main Reasons to Modify a Parenting Plan

Parenting Plans, which are private agreements between parents, and Custody Orders, which are approved by judges, are not written in stone.   Separated parents need to be prepared to discuss changes as needed because modifications are actually quite common in custody cases, especially in those like the one involving Angelina and Brad Pitt's six children, … Continue reading By Regina DeMeo: 6 Main Reasons to Modify a Parenting Plan

Ted Dougherty and Lisa Sergi – Tax Planning Using the Constructive Sale Rules – When is a Constructive Sale not a Constructive Sale?

Tax Planning Using the Constructive Sale Rules – When is a constructive sale not a constructive sale? By Ted Dougherty and Lisa Sergi Notwithstanding strong headwinds in the financial markets, a number of hedge funds are sitting on large unrealized gains in their portfolios. Concerns arising from the outcome of elections in the United States, Brexit, … Continue reading Ted Dougherty and Lisa Sergi – Tax Planning Using the Constructive Sale Rules – When is a Constructive Sale not a Constructive Sale?

By Regina A. DeMeo: 5 Key Issues In A Divorce

What most people going through a divorce dwell on  is the why, or how did we get to this point?  Unfortunately, not everyone is capable of having a closure conversation, and many will be deprived of the apology they so long for, and perhaps rightly deserve.  Ultimately, it only takes one person to call it quits, … Continue reading By Regina A. DeMeo: 5 Key Issues In A Divorce

By Regina A. DeMeo: What Is Conscious Uncoupling?

Conscious uncoupling is not something invented by Gwyneth Paltrow and Chris Martin, who decided to separate amicably in 2014.  It is actually a movement that has been around for decades, and it is skillfully executed by trained mediators, who promote Alternate Dispute Resolution ("ADR") methods for couples that want to avoid World War III. ADR … Continue reading By Regina A. DeMeo: What Is Conscious Uncoupling?

By Regina A. DeMeo: 3 Key Costs In a Divorce

They say freedom is priceless, and yet when you are contemplating a divorce, there are some pretty significant costs to consider before calling it quits, unless you are economically on par with couples like Brad Pitt and Angelina Jolie. Here are the top 3 expenses you must budget for when contemplating a separation: 1. Family … Continue reading By Regina A. DeMeo: 3 Key Costs In a Divorce

By Regina A. DeMeo: Are You Ready To Get Engaged?

Most couples get engaged between November and February each year, and then the wedding planning takes over for another 6-9 months until the big day. During that time, a couple will formulate a guest list that will not only drive the choice of a venue, but also the costs of the caterer and floral arrangements. … Continue reading By Regina A. DeMeo: Are You Ready To Get Engaged?

By Regina A. DeMeo: Have You Dealt With Your Baggage?

Anyone over the age of 35 that has gone through a divorce has baggage-- even if there were no children that resulted from that marriage. We all have poured time and energy into a relationship that failed, and when all your hopes and dreams for that marriage are shattered, it is normal (and healthy) to … Continue reading By Regina A. DeMeo: Have You Dealt With Your Baggage?

Edwin Morrow – The Hunt for Tax Apportionment: Lessons from Tom Clancy’s Estate Litigation

The Hunt for Tax Apportionment: Lessons from Tom Clancy’s Estate Litigation Edwin Morrow  The Hunt for Red October was Tom Clancy's debut novel in 1984.  It was a fun, exciting novel written in the Reagan, pre-Glasnost era about a rogue Soviet (remember the Soviet Union?) submarine captain, later turned into a movie with Sean Connery … Continue reading Edwin Morrow – The Hunt for Tax Apportionment: Lessons from Tom Clancy’s Estate Litigation

Special Needs – Special Trusts Part. 3: Common Errors – Bernard A. Krooks

SPECIAL NEEDS - SPECIAL TRUSTS - WHAT YOU DON’T KNOW CAN HURT YOUR CLIENTS AND YOU! Part. 3: Common Errors By Bernard A. Krooks Littman Krooks LLP New York, New York / http://www.littmankrooks.com Part 2. Drafting Considerations  Set forth below are some common errors practitioners make when representing clients in connection with special needs planning and SNTs. … Continue reading Special Needs – Special Trusts Part. 3: Common Errors – Bernard A. Krooks

Special Needs – Special Trusts Part. 2: Drafting Considerations & Trust Administration Considerations – Bernard A. Krooks

SPECIAL NEEDS - SPECIAL TRUSTS - WHAT YOU DON’T KNOW CAN HURT YOUR CLIENTS AND YOU! Part. 2: Drafting Considerations & Trust Administration Considerations By Bernard A. Krooks Littman Krooks LLP New York, New York / http://www.littmankrooks.com Part. 1 Overview & Taxation III. Drafting Considerations A. Trustee Selection The selection of a trustee is one of … Continue reading Special Needs – Special Trusts Part. 2: Drafting Considerations & Trust Administration Considerations – Bernard A. Krooks

By Regina A. DeMeo: 4 Key Questions To Ask Before The Nuptials

Wedding season is upon us, and that means lots of revenue for all the vendors in that industry, which in the DC Area yields about $1.1 Billion a year.  Truly, one must admire the amazing collaboration of efforts that make that magical day happen, but looking beyond the big day, here are 4 key questions … Continue reading By Regina A. DeMeo: 4 Key Questions To Ask Before The Nuptials

Alexandre M. Denault & Jonathan E. Gopman – Treasury Department Extends Form 5472 Filing Requirements to Foreign-Owned Domestic Disregarded Entities

Treasury Department Extends Form 5472 Filing Requirements to Foreign-Owned Domestic Disregarded Entities By: Alexandre M. Denault & Jonathan E. Gopman On May 10, 2016, Treasury issued proposed regulations (the "Proposed Regulations") which enable the Internal Revenue Service (the "Service") to collect certain information about domestic disregarded entities with a single foreign owner. The purpose of the … Continue reading Alexandre M. Denault & Jonathan E. Gopman – Treasury Department Extends Form 5472 Filing Requirements to Foreign-Owned Domestic Disregarded Entities

HERE COMES THE MOUNTAINAIR TRUST – WEST VIRGINIA PASSES ASSET PROTECTION TRUST LEGISLATION (EFFECTIVE JUNE 8, 2016)

WEST VIRGINIA PASSES ASSET PROTECTION TRUST - TRUST LEGISLATION EFFECTIVE JUNE 8, 2016  - HERE COMES THE MOUNTAINAIR TRUST By Jonathan Gopman, Michael Sneeringer and Alan Gassman Almost haven, West Virginia, Advances its trust law, Throwing future creditors in the river.   Trusts are old there, Like the Confederacy, Until now creditors, Could take about everything they see. … Continue reading HERE COMES THE MOUNTAINAIR TRUST – WEST VIRGINIA PASSES ASSET PROTECTION TRUST LEGISLATION (EFFECTIVE JUNE 8, 2016)

By Regina A. DeMeo: 7 Points to Consider Before Parting Ways

Summer is almost here, and while the kids are out of school, this is the time when a lot of parents considering a separation decide to plan a move. But before vacating the marital residence, here are 7 key points to consider: 1. Get legal advice. It is critical to understand your rights and obligations, … Continue reading By Regina A. DeMeo: 7 Points to Consider Before Parting Ways

Irrevocable Life Insurance Trust Bank? – Richard L. Harris

A trust metaphor may help you better communicate with clients. By Richard L. Harris Have you ever had a client tell you they want a charitable lead annuity trust, a grantor-retained annuity trust or a sale to a (defective) grantor trust? No? Along with trusts and life insurance, the estate-planning terminology causes people’s eyes to … Continue reading Irrevocable Life Insurance Trust Bank? – Richard L. Harris

Special Needs – Special Trusts Part. 1: Overview & Taxation – Bernard A. Krooks

SPECIAL NEEDS - SPECIAL TRUSTS - WHAT YOU DON’T KNOW CAN HURT YOUR CLIENTS AND YOU! Part. 1 Overview & Taxation By Bernard A. Krooks Littman Krooks LLP New York, New York / http://www.littmankrooks.com I. Overview Special needs planning is a niche practice area within the estate planning field that requires a working knowledge of many … Continue reading Special Needs – Special Trusts Part. 1: Overview & Taxation – Bernard A. Krooks

What is Reasonable? Determining Fiduciary Fees in Massachusetts

By Amy R. Lonergan and Joshua S. Miller For an attorney in Massachusetts, serving as a personal representative or trustee (“fiduciary”) for a trust or estate can be a rewarding and fulfilling role. However, there are numerous pitfalls for an attorney when setting and collecting his or her fees for serving as a fiduciary. The will or … Continue reading What is Reasonable? Determining Fiduciary Fees in Massachusetts

By Regina A. DeMeo: Is Your Wedding Budget Realistic?

Welcome to wedding season in the DC Area, which according to the Washingtonian Magazine enjoys revenues of over $1 Billion a year thanks to all the brides and grooms that choose to tie the knot here.  The average cost for a wedding in the U.S. is about $25,000, although in DC it is over $32,000. … Continue reading By Regina A. DeMeo: Is Your Wedding Budget Realistic?