Educational Alerts
The Case of the iPhone Will
This month’s Alert examines how a “Will” might be in various different forms, like on an iPhone. The Alert also discusses how it may be prudent to use other devices to avoid probate.
A New Paradigm: Planning for State Estate Taxes
This month’s Alert examines issues concerning state estate taxes. While the federal exemption has increased to over $5 million per person, about 1/3 of the states have exemptions as low as $675,000.
Planning for Children with Special Needs
This month’s Alert examines how to preserve government benefits for beneficiaries with special needs. A “Special Needs Trust” can ensure assets you leave the beneficiary do not disqualify them from government benefits.
Tax Court Says Taxpayer Cannot Have it Both Ways
This month’s alert examines a case involving the rule of consistency. In the case, beneficiaries of a trust were trying to contest the income tax basis of a property. The basis had derived from the estate tax valuation as reported by the executor of the decedent’s estate. The court concluded that the beneficiaries were bound by the executor’s position because of the rule of consistency.
Protecting an Inheritance as Opposed to Ruling from the Grave
How much protection is enough? This month’s alert examines this quandary and the tension between protecting beneficiaries and giving them control of assets.
New Rules for Same-Sex Couples
This alert discusses the IRS’ recently-released ruling regarding married same-sex couples. It examines how the IRS will treat such couples, even when they live in a state which does not respect their marriage.
Estate of Hurford: a Taxpayer’s Tale of Woes
This month’s alert examines a case which illustrates the importance of choosing an estate planning attorney. It also demonstrates the importance of the implementation of a strategy, in this case a Family Limited Partnership (FLP).
U. S. Supreme Court Rules DOMA Unconstitutional: Estate Planning for LGBTQ Couples Just Got Easier – and More Complicated
The U.S. Supreme Court recently released two decisions concerning same-sex marriages. This alert examines the landscape of same-sex marriage and estate planning for LGBTQ couples in light of Windsor and Petty.
President’s Budget Proposal for 2014: Greater Estate Taxes, Income Taxes May Be in Your Future
This month’s Alert examines the tax aspects of the Administration’s proposed 2014 budget.
Planning for Retirement Assets Can be Difficult
This month’s Alert examines the rules regarding distributions from IRAs and retirement plans. In particular, it examines reasons to make a trust the beneficiary and rules regarding who is the measuring life for minimum required distribution purposes.
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