Leimberg Weekly Digest: September 6 – 12, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's Estate Planning Newsletter·  September 8 -David Pratt & Jeff Baskies - The Time Has Come to Implement Painless Giving: How to Gift One or More Residences Prior to the End of the Year Without Feeling ItSteve Leimberg's Employee Benefits and Retirement Planning Newsletter·  September 10 -Mary Vandenack on Lee v. Argent … Continue reading Leimberg Weekly Digest: September 6 – 12, 2020

Florida Probate & Trust Litigation Blog: What’s the right way and the wrong way to deed property OUT of your revocable trust? (August 23, 2020)

Juan C. Antúnez, in his Florida Probate & Trust Litigation Blog, discusses what is the right way and the wrong way to deed property OUT of your revocable trust. His article begins as follows: Deeding property “into” and “out” of trusts is the kind of bread and butter work trusts and estates lawyers do all the time. But … Continue reading Florida Probate & Trust Litigation Blog: What’s the right way and the wrong way to deed property OUT of your revocable trust? (August 23, 2020)

Leimberg Weekly Digest: August 23 – 28, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's Estate Planning Newsletter·  August 27 -Steve Leimberg - Review of the 13TH Edition of Tools and Techniques of Financial Planning·  August 25 -Paul Hood: Exercising Swap Powers, Part 1Steve Leimberg's Business Entities Newsletter·  August 26 -Brandon Ketron, Alan Gassman & Kevin Cameron: SBA Releases New Interim Final Rules Placing Restrictions on Payments … Continue reading Leimberg Weekly Digest: August 23 – 28, 2020

Leimberg Weekly Digest: August 15 – 21, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's International Tax Planning Newsletter·  August 20 -Steve Leimberg: Review of International Estate Planning 2nd Edition by Barbara Hauser and Melissa LangaSteve Leimberg's Estate Planning Newsletter·  August 18 -Sandra D. Glazier on US v. Sanmina Corporation - A Primer on the Attorney Client Privilege and Work Product Doctrine·  August 18 -7520 and Other … Continue reading Leimberg Weekly Digest: August 15 – 21, 2020

PLR202035010: Irrevocable Trust Qualifies as See Through Trust for IRAs

In PLR 202035010, the Service ruled that an irrevocable trust qualified as a see through trust regarding IRA distributions under Reg. §1.401(a)(9)-4, Q&A-5. In PLR 202035010, the decedent ("D") established two trusts, one revocable and one irrevocable trust. D named the revocable trust as the beneficiary of his two IRAs. The revocable trust named D's … Continue reading PLR202035010: Irrevocable Trust Qualifies as See Through Trust for IRAs

Steve R. Akers: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate Loans vs. Gifts (July 24, 2020)

Steve R. Akers, of Bessemer Trust, has published his summary of the Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate. The summary is as follows: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71, addresses whether advances made to a son with no loan agreements, security, or attempts to force repayment … Continue reading Steve R. Akers: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate Loans vs. Gifts (July 24, 2020)

Leimberg Weekly Digest: August 1-8, 2020

LISI WEEKLY DIGEST [Subscription Required]  Steve Leimberg's Estate Planning Newsletter·  August 7 -Steve Leimberg - Review of Planning for Ownership and Inheritance of Pension and IRA Accounts and Benefits in Trust or Otherwise After the Secure Act: The Estate Planner's IRA/Pension Planning Guide·  August 6 -Michael Geeraerts & Jim Magner on the Bolles and Kroner Cases - Is … Continue reading Leimberg Weekly Digest: August 1-8, 2020

Peter B. Allport & Nicole K. Mann (McDermott Will): Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts (August 4, 2020)

Peter B. Allport and Nicole K. Mann, of McDermott Will & Emery, have made available for download their article, Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts, published in McDermott Will & Emery blog page. The abstract is as follows: Recent decisions in California and Mississippi illustrate the divergence among … Continue reading Peter B. Allport & Nicole K. Mann (McDermott Will): Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts (August 4, 2020)

Steve R. Akers: ACTEC 2020 Annual Meeting Musings (July 20, 2020)

Steve R. Akers, of Bessemer Trust, has published his summary of the ACTEC 2020 Annual Meeting Musings. The summary is as follows: Various seminars at the ACTEC 2020 Annual Meeting are summarized. Topics include: litigation issues, DNA testing effects, SECURE Act, pre-mortem probate, UPMIFA, well-being for planners, unconscious bias, foreign person as trustee, transfer planning, … Continue reading Steve R. Akers: ACTEC 2020 Annual Meeting Musings (July 20, 2020)

Foley Lardner: Introduction to Family Offices (July 23, 2020)

Foley Lardner has published a succinct primer on Family Offices. It begins as follows: What is a Family Office? A “Family Office” is a wealth management entity created to provide investment and wealth management services tailored to the specific needs of a high net worth (HNW) individual or familyA Family Office can take on many … Continue reading Foley Lardner: Introduction to Family Offices (July 23, 2020)

Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say

Paul Sullivan's weekly New York Times Wealth Matters column focuses on the use of flowcharts and other visual aids in the context of estate planning. It begins as follows: As older adults face mortality during the pandemic, lawyers and wealth advisers are using color-coded documents and flowcharts to help them understand estate planning. To see … Continue reading Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say

William Finestone (Blank Rome LLP): Low Interest Rate Gift Planning, Estate Planning Magazine (July 2020)

William Finestone, of Blank Rome, has made available for download his article, Low Interest Rate Gift Planning, published in Estate Planning Magazine (July 2020). The abstract is as follows: While clients still have all of 2020 to take advantage of annual exclusion gifts (currently $15,000 per donee) and the increased lifetime gift tax exemption (now … Continue reading William Finestone (Blank Rome LLP): Low Interest Rate Gift Planning, Estate Planning Magazine (July 2020)

Leimberg Weekly Digest: July 11-18, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's Income Tax Planning Newsletter·  July 13 -HERBERT CHASMAN Steve Leimberg's Estate Planning Newsletter·  July 17 -Keith Schiller: COVID-19 Protection Via the Use of Masks Historically Compared·  July 16 -7520 and Other Key Rates - August 2020·  July 16 -Paul Hood on Grieve v. Commissioner: The IRS 'Grieves' to the Tune of $5,000,000 as the … Continue reading Leimberg Weekly Digest: July 11-18, 2020

Leimberg Weekly Digest: July 5-11, 2020

LISI WEEKLY DIGEST [Subscription Required] July 5 - 11, 2020 Steve Leimberg's Income Tax Planning Newsletter·  July 9 -James M. Kane on the Inter-Vivos QTIP Marital Trust, Now Even Better in GeorgiaSteve Leimberg's Estate Planning Newsletter·  July 10 -Brad Dillon: Yes, Democrats Could Enact Retroactive Tax Legislation Next Year with a Simple Majority Vote, So Plan Now … Continue reading Leimberg Weekly Digest: July 5-11, 2020

Florida Probate & Trust Litigation Blog: Prenuptial agreement vs. revocable trust: who wins?

Juan C. Antunez, on his Florida Probate & Trust Litigation Blog writes about what happens when there is a conflict between a prenup and a revocable trust, by focusing on Wilson v. Wilson as Trustee of Paul C. Wilson Living Trust, — So.3d —-, 2019 WL 3808162 (Fla. 4th DCA August 14, 2019). His article … Continue reading Florida Probate & Trust Litigation Blog: Prenuptial agreement vs. revocable trust: who wins?

Steve Gorin’s Business Succession Solutions (2nd Qtr 2020): Pass Throughs Held by Trusts; Formula Transfers; Business Gifts When Selling A Business

Steve Gorin, of Thompson Coburn, has issued his 2nd quarter business succession update, which include the following:Pass-Through Entities Held by TrustsThis article provides a guide for a trust holding or selling an entity taxed as a partnership or S corporation (a “pass-through entity”). For details, including selected 2020 developments, READ MORE Formula Transfers for Estate PlanningWhen transferring a … Continue reading Steve Gorin’s Business Succession Solutions (2nd Qtr 2020): Pass Throughs Held by Trusts; Formula Transfers; Business Gifts When Selling A Business

TAXATION OF TANGIBLE PERSONAL PROPERTY

By Laura Angel-Lalanne & G. Warren Whitaker Clients frequently make their choices regarding the disposition of their tangible personal property based on emotional considerations.  Nevertheless, they must be aware of the tax costs and benefits associated with the various methods of disposition they may be considering, so they can make fully informed decisions.  This article … Continue reading TAXATION OF TANGIBLE PERSONAL PROPERTY

Leimberg Weekly Digest: 2020.05.16-23

·  May 20 -Steve Leimberg's Estate Planning NewsletterBeth Shapiro Kaufman & Megan E. Wernke: GST Exemption Allocation for 2019, Better Late than TimelySteve Leimberg's Business Entities Newsletter·  May 18 -Jeff Scroggin & Michael Burns: Checklist for Avoiding Penalties on PPP Loan Certifications·  May 18 -Alan Gassman, Brandon Ketron, Lawrence Starr & Kevin Cameron - Newly Published PPP Loan … Continue reading Leimberg Weekly Digest: 2020.05.16-23

What’s the Upside in a Downturn? —Today’s Environment Has Created Once-in-a-lifetime Wealth Planning Opportunities

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