Forbes: IRS Clawback Proposed Regulation Causes Confusion In The Playing Field (April 28, 2022)

Forbes has published an article, “IRS Clawback Proposed Regulation Causes Confusion In The Playing Field”, which discusses the world of estate tax planning. The article begins as follows: The world of estate tax planning can be complicated and confusing.While planners can navigate the situations that taxpayers face by way of planning strategies, financial projections and … Continue reading Forbes: IRS Clawback Proposed Regulation Causes Confusion In The Playing Field (April 28, 2022)

Gerald Nowotny: All in the Family – Introducing Family-Owned Life Insurance™ (aka FOLI) (April 15, 2022)

Gerald Nowotny, of the Law Office of Gerald R. Nowotny, has made available for download his article, “All in the Family – Introducing Family-Owned Life Insurance™ (aka FOLI)”, published in JDSUPRA. The abstract is as follows: Perhaps you are tired of reading that I grew up in the Panama Canal Zone, but it is one … Continue reading Gerald Nowotny: All in the Family – Introducing Family-Owned Life Insurance™ (aka FOLI) (April 15, 2022)

Sacha Dray, Camille Landais, & Stefanie Stantcheva: Wealth and Property Taxation in the United States (April 19, 2022)

Sacha Dray, Camille Landais, and Stefanie Stantcheva have made available for download their article, "Wealth and Property Taxation in the United States". The abstract is as follows: We study the history and geography of wealth accumulation in the US, using newly collected historical property tax records since the early 1800s. The property tax in the … Continue reading Sacha Dray, Camille Landais, & Stefanie Stantcheva: Wealth and Property Taxation in the United States (April 19, 2022)

Steve Gorin’s Business Succession Solutions (1st Qtr 2022): Basis Step-Up by Trust Modification

Steve Gorin, of Thompson Coburn LLP, has issued his 1st quarter business succession solutions, which include the following: Part II.H.2.k. Taxable Termination vs. General Power of Appointment vs. Delaware Tax Trap Part II.J.18. Trust Divisions, Mergers, and Commutations; Decanting Part II.J.18. Trust Divisions, Mergers, and Commutations; Decanting Part II.J.18.c.ii. Tax Consequences of Decanting Part III.B.1.b Transfers for Insufficient Consideration, Including Restructuring Businesses or Trusts Part … Continue reading Steve Gorin’s Business Succession Solutions (1st Qtr 2022): Basis Step-Up by Trust Modification

Steve Gorin’s Business Succession Solutions (1st Qtr 2022): BDOT By Trust Distribution

Steve Gorin, of Thompson Coburn LLP, has issued his 1st quarter business succession solutions, which include the following: Part III.B.2.i. Code § 678 Beneficiary Deemed-Owned Trusts Part II.J.4.f. Making Trust a Partial Grantor Trust as to a Beneficiary Part II.J.3.a Who Is Best Taxed on Gross Income Part III.A.4 Trust Accounting Income Regarding Business Interests Part III.F.2 Trust Accounting and Taxation Part III.A.3.e QSSTs … Continue reading Steve Gorin’s Business Succession Solutions (1st Qtr 2022): BDOT By Trust Distribution

Steve Gorin’s Business Succession Solutions (1st Qtr 2022): Preferred Partnerships Preferred to Fee

Steve Gorin, of Thompson Coburn LLP, has issued his 1st Quarter Business Succession Solutions, which include the following: Part II.H.11.a. Basics of Preferred Partnerships  Part II.H.11.b. Preferred Partnership Compared to Sale to Irrevocable Grantor Trust Part II.C.8.a. Code § 707 - Compensating a Partner for Services Performed Part II.E.1.c.ii.(c). Items Excluded from Treatment as Qualified Business Income Under Code § 199A Part II.Q.8.b.i Distribution … Continue reading Steve Gorin’s Business Succession Solutions (1st Qtr 2022): Preferred Partnerships Preferred to Fee

NY Times: Reverse Mortgages Are No Longer Just for Homeowners Short on Cash (April 1, 2022)

Susan B. Garland, in his New York Times article, discusses the advantages of reverse mortgages. His article, “What Retirement Means for Your Taxes”, begins as follows: After her husband died suddenly from a fall in 2016, Marjorie Fox decided to hold off on any big decisions. She waited two years to retire as a financial planner and … Continue reading NY Times: Reverse Mortgages Are No Longer Just for Homeowners Short on Cash (April 1, 2022)

Susan Friedman: Frequently Asked Questions Regarding Online Accounts and Estate Planning (April 4, 2022)

Susan Friedman, of Kohrman Jackson & Krantz LLP, has made available for download her article, "Frequently Asked Questions Regarding Online Accounts and Estate Planning", published in JDSUPRA. The abstract is as follows: There are many factors to consider when planning your estate in the event of your incapacitation or death. While discussions regarding traditional assets … Continue reading Susan Friedman: Frequently Asked Questions Regarding Online Accounts and Estate Planning (April 4, 2022)

Texas Fiduciary Litigator: Texas Court Held That Wife’s Trust Funds Were Her Separate Property And Was Not Converted To Community Property Despite Being Transferred To A New Trust (April 4, 2022)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses LaPree v. LaPree, No. 03-20-00465-CV, 2022 Tex. App. LEXIS 1325 (Tex. App.—Austin February 24, 2022, no pet. history). In LaPree v. LaPree, a wife had three trusts where she was the primary beneficiary. No. 03-20-00465-CV, 2022 Tex. App. LEXIS 1325 (Tex. App.—Austin February 24, 2022, no … Continue reading Texas Fiduciary Litigator: Texas Court Held That Wife’s Trust Funds Were Her Separate Property And Was Not Converted To Community Property Despite Being Transferred To A New Trust (April 4, 2022)

Charles E. Rounds Jr.: Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle (April 1, 2022) 

Charles E. Rounds Jr., of Suffolk University Law School, has made available for download his article, “Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle”, published in JDSUPRA. The abstract is as follows: Judgments of the courts of the state where entrusted land is sited are binding on the courts of … Continue reading Charles E. Rounds Jr.: Tracing and recovering real estate wrongfully removed from trusts: End-running the full-faith-and-credit obstacle (April 1, 2022) 

NY Times: What Retirement Means for Your Taxes (March 25, 2022)

Mark Miller, in his New York Times article, discusses the key ways that income is taxed in retirement. his article, “What Retirement Means for Your Taxes”, begins as follows: If you dread tax day every year, here’s a bit of good news: Your tax burden probably will lighten when you retire.You’ll still pay taxes on income you … Continue reading NY Times: What Retirement Means for Your Taxes (March 25, 2022)

Charles E. Rounds Jr.: A message to the Divorce Bar: The constructive trust and the resulting trust are creatures of and regulated by general principles of equity, not the Uniform Trust Code (March 23, 2022)

Charles E. Rounds Jr., of Suffolk University Law School, has made available for download his article, “A message to the Divorce Bar: The constructive trust and the resulting trust are creatures of and regulated by general principles of equity, not the Uniform Trust Code”, published in JDSUPRA. The abstract is as follows: The constructive trust … Continue reading Charles E. Rounds Jr.: A message to the Divorce Bar: The constructive trust and the resulting trust are creatures of and regulated by general principles of equity, not the Uniform Trust Code (March 23, 2022)

Alex Harrington: Does My Family Member Need A Conservator? (March 16, 2022)

Alex Harrington of Burns & Levinson LLP has made available for download his article, “Does My Family Member Need a Conservator? What Would That Look Like?”, published in JDSUPRA. The abstract is as follows: It can be difficult to talk with loved ones about protecting their assets or managing their financial affairs. Even if you … Continue reading Alex Harrington: Does My Family Member Need A Conservator? (March 16, 2022)

UBS: 2022 tax & financial planning guide (February 28, 2022)

UBS has made available for download their report, “2022 planning guide”, which provides a in-depth overview of income tax, retirement, and estate planning ideas for this year. The report begins as follows: Early last year, just after President Biden was sworn into the Oval office and the Democrats narrowly secured the majority in the Senate, … Continue reading UBS: 2022 tax & financial planning guide (February 28, 2022)

Patricia Malley: I Have a Secret Relationship. How Do I Include Them in My Estate Plan? (March 3, 2022)

Patricia Malley, of Burns & Levinson LLP, has made available for download her article, “I Have a Secret Relationship. How Do I Include Them in My Estate Plan?", published in JDSUPRA. The abstract is as follows: Typically, when couples put together an estate plan, they do so jointly with a single attorney representing both spouses. … Continue reading Patricia Malley: I Have a Secret Relationship. How Do I Include Them in My Estate Plan? (March 3, 2022)

Estate Planning Journal: Mitigating the Lack of Wills One Brochure at a Time (February 10, 2022)

Katelyn Barker, of the Estate Planning Journal, has made available for download her article "Mitigating the Lack of Wills One Brochure at a Time", published in the Estate Planning Journal. The abstract is as follows: A majority of Americans die without a will, which floods the courts withlawsuits concerning the disbursal of the deceased’s estate. … Continue reading Estate Planning Journal: Mitigating the Lack of Wills One Brochure at a Time (February 10, 2022)

Estate Planning Journal: Just A Will Won’t Cut It: Planning for the Transfer of Non-Probate Assets at Death (February 10, 2022)

Arielle M. Prangner, of the Estate Planning Journal, has made available for download her article "Just A Will Won’t Cut It: Planning for the Transfer of Non-Probate Assets at Death", published in the Estate Planning Journal. The abstract is as follows: When crafting a comprehensive estate plan for clients, planning for andcoordinating assets that pass … Continue reading Estate Planning Journal: Just A Will Won’t Cut It: Planning for the Transfer of Non-Probate Assets at Death (February 10, 2022)

Estate Planning Journal: First Comes Love, Then Comes Marriage: Cohabitation as a Framework for Conflicts Between Community Property and Common Law Marriage (January 1, 2022)

Ana Mitchell Córdova, of the Estate Planning Journal, has made available for download her article "First Comes Love, Then Comes Marriage: Cohabitation as a Framework for Conflicts Between Community Property and Common Law Marriage", published in the Estate Planning Journal. The abstract is as follows: In 2015, the Supreme Court of the United States legalized … Continue reading Estate Planning Journal: First Comes Love, Then Comes Marriage: Cohabitation as a Framework for Conflicts Between Community Property and Common Law Marriage (January 1, 2022)

Journal of Accountancy: SEC proposes new rules for private equity (February 9, 2022)

Jeff Drew has published an article on the Journal of Accountancy, titled “SEC proposes new rules for private equity.” The article begins as follows: The SEC revealed plans Wednesday to require registered private fund advisers to provide investors with quarterly statements detailing select information regarding fund fees, expenses, and performance.In a news release, the SEC provided … Continue reading Journal of Accountancy: SEC proposes new rules for private equity (February 9, 2022)

Kitces: Maximizing The Step-Up In Basis By Gifting Assets Between Spouses (February 2, 2022)

Kitces has made available for download their article, “Maximizing The Step-Up In Basis By Gifting Assets Between Spouses”, published on Kitces. The Executive Summary begins as follows: While President Joe Biden’s recently proposed “Build Back Better” brought the possibility of a reduced estate tax exemption for 2022, insufficient support for the bill precluded the reduction, … Continue reading Kitces: Maximizing The Step-Up In Basis By Gifting Assets Between Spouses (February 2, 2022)