Articles
Retirement Planning: It's a Good Time to Review your Estate Plan
January 10, 2019Laura Weintraub Beck, Chairman of Cummings & Lockwood Private Clients Group was interviewed for an article by Julie Jason, "Retirement Planning: It's a Good Time to Review your Estate Plan" which was syndicated through King Features, a Unit of Hearst which ran January 10, 2019.
Are You Prepared? The Importance of Planning Your Estate
Fall 2018 - Winter 2019Are you prepared? Have you given serious thought to your estate planning, final wishes, and your beneficiaries?
Beyond the Gates
Cryptocurrency - Estate and Charitable Planning and Compliance
Getting up to speed on virtual currencies for fiduciaries, heirs and charities
January 2019Conrad Teitell, Heather J. Rhoades and Katherine A. McAllister, attorneys in the Private Clients Group, wrote an article for Trusts and Estate Magazine entitled "Cryptocurrency - Estate and Charitable Planning and Compliance" which was published in the January 2019 Issue.
Trusts & Estates Magazine
Ancillary Probate in Florida
December 4, 2018The “Sunshine State” is well-known for attracting individuals, such as snowbirds, who often own Florida property without becoming residents of the state. However, if a non-resident of Florida dies leaving Florida property, administration of the decedent’s estate may be complicated by the need for an ancillary probate proceeding in Florida to dispose of the Florida property.
Practical Law Journal
Disclaimer Danger
IRS Deems Disclaimer of Trust Interest Not Subject to Gift Tax
November 26, 2018A disclaimer, in the most basic estate-planning sense, is a refusal to accept an interest in property. But why would someone ever reject an interest in a trust or an inheritance? There’s actually several reasons.
Trusts & Estates Magazine Website
Modification of a GST Trust Didn't Impact Its Exclusion Status
A recent PLR demonstrates the dangers that even judicial modifications can pose to a trust's tax status.
October 26, 2018Chapter 13 of the Internal Revenue Code imposes a tax on generation-skipping transfers (that is, transfers to individuals more than one generation below the donor).
Trusts & Estates Magazine Website
Charitable Deduction for Gifts by Individuals, Partnerships and Corporations
A primer on a plethora of philanthropic provisions
Trusts & Estates Magazine
Increased Charitable Giving Through the Legacy IRA Act
September 11, 2018Charitable-minded Americans age 70½ or older are allowed tax-free transfers from their IRAs to make direct gifts to charitable organizations.
Steve Leimberg's Charitable Planning Newsletter
Internal Revenue Manual Updates Provide Welcome Guidance for Federal Estate Tax Lien Release Process
September 5, 2018Real property owned at the time of an individual’s death is subject to a federal estate tax lien, which, in accordance with IRC section 6324, attaches to the property automatically and provides security for any estate taxes that may be owed.
Bargain Sales to Charities: Charitable Deductions and Capital Gains Savings
The donor allocates the property's cost basis between the gift element and the sale element, based on the fair market value of each part.
August 24, 2018The donor allocates the property's cost basis between the gift element and the sale element, based on the fair market value of each part.
The New York Law Journal
GST Tax Exemptions in Jeopardy
A recent PLR showcases risks associated with modifying grandfathered generaltion-skipping transfer trusts
May 18, 2018The provisions of Chapter 13 of the Internal Revenue Code aren't for the faint of heart. That chapter specifically deals with the tax on generation-skipping transfers, that is transfers to individuals more than one generation below the donor.
Trusts & Estates Magazine Website
"What Beats A Charitable Bequest Under The New Tax Law?"
April 10, 2018“Many people go to their lawyers and add a charity in their wills. Instead, I suggest they consider a charitable remainder trust or a charitable gift annuity,” says tax lawyer Conrad Teitell, chairman of the Charitable Planning Group at Cummings & Lockwood who has published the Taxwise Giving newsletter since 1964. Most leading charities, including colleges, offer these "planned giving" opportunities.
Forbes