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How Does Portability Effect Your Estate Plan?

March 27, 2019

Portability is the term used to describe a relatively new provision in federal estate tax law that allows a widow or widower to use any unused federal estate tax exemption of his or her deceased spouse to shelter assets from gift tax during the surviving spouse’s life and/or estate tax at the surviving spouse’s death.

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Falling From Legislative Grace

March 26, 2019

The charitable deduction is meant to incentivize taxpayers to contribute to charities, not find ways to cheat the system.

When assets are transferred to one or more qualified charitable organizations on death, Internal Revenue Code Section 2055(a) allows for a deduction from the value of the decedent’s gross estate.


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The IRS Man Cometh for College Admission Scammers

March 26, 2019

Uncle Sam looks to be coming after anyone connected to the Key Worldwide Foundation


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Have You Ever Been Asked to Serve as Trustee of a Trust? What Does That Mean for You?

March 18, 2019

Have you ever been asked by a family member or friend to serve as Trustee of a trust for the benefit of their children or family members? 

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Charitable Deduction Deconstruction

February 12, 2019

There will always be reasons to be charitable. But, if your client is looking to claim a deduction, be sure she follows the rules.


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Retirement Planning: It's a Good Time to Review your Estate Plan

January 10, 2019

Laura 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.

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Are You Prepared? The Importance of Planning Your Estate

Fall 2018 - Winter 2019

Are you prepared?  Have you given serious thought to your estate planning, final wishes, and your beneficiaries?


Beyond the Gates
By Angela Theresa Frizalone

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Cryptocurrency - Estate and Charitable Planning and Compliance

Getting up to speed on virtual currencies for fiduciaries, heirs and charities
January 2019

Conrad 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

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Ancillary Probate in Florida

December 4, 2018

The “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

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Disclaimer Danger

IRS Deems Disclaimer of Trust Interest Not Subject to Gift Tax
November 26, 2018

A 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.


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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, 2018

Chapter 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).


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Charitable Deduction for Gifts by Individuals, Partnerships and Corporations

A primer on a plethora of philanthropic provisions

Trusts & Estates Magazine

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