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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


Cryptocurrency - Estate and Charitable Planning and Compliance

Getting up to speed on virtual currencies for fiduciaries, heirs and charities
January 2019
Trusts & Estates Magazine


Ancillary Probate in Florida

December 3, 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


Disclaimer Danger: IRS Deems Disclaimer of Trust Interest Not Subject to Gift Tax

November 25, 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.

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 25, 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).

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 10, 2018

Charitable-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
By Conrad Teitell, Brianna L. Marquis, and Andrew Brett Seiken


Internal Revenue Manual Updates Provide Welcome Guidance for Federal Estate Tax Lien Release Process

September 4, 2018

Real 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 23, 2018

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.

The New York Law Journal


GST Tax Exemptions in Jeopardy

A recent PLR showcases risks associated with modifying grandfathered generation-skipping transfer trusts
May 17, 2018

The 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 9, 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.

By Ashlea Ebeling


Gift Split Gaffe

Accountant's Mistake Could Result in Increased Generation-Skipping Transfer Taxes
April 2, 2018

When a taxpayer signs a Form 709 reporting transfers subject to federal gift tax, he signs under penalties of perjury that he’s examined the return and, to the best of his knowledge, the return is “true, correct, and complete.” But honestly, does the average taxpayer truly know or understand the tax implications of the gifts he makes? 

Trusts & Estates Magazine Website