A surviving spouse was the beneficiary of two marital trusts established under her late husband’s revocable trust agreement.
Articles
Gene Wilder's Real-Life Golden Ticket
September 12, 2016Gene Wilder was a celebrated actor best known for his role as Willy Wonka. What Wilder is less recognized for, but which is maybe even more admirable, is his philanthropic efforts to raise awareness about ovarian cancer.
Trusts & Estates Magazine Website
UBI Tax Not Applied to Receivables Left by Decedent
July 26, 2016Originally, all business income of charities and other exempt organizations was free from taxation. Today, the tax on UBI is imposed on the unrelated business taxable income of most exempt organizations.
Trusts & Estates Magazine Website
IRS Denies IRC Section 1035 Tax Deferral in Annuity Exchange
June 29, 2016A taxpayer inherited an interest in an annuity from his late father. The taxpayer wished to exchange his interest in the inherited annuity for an annuity sold by a different insurance company.
Trusts & Estates Magazine Website
The Fiduciary vs. Sovereign Immunity
June 14, 2016Estates are generally viewed as a legal continuation of a deceased individual: when an individual passes away, any claims that arose before or on an individual’s death may be pursued by or against the estate of that individual.
Trusts & Estates Magazine Website
Asset Protection or Abusive Tax Planning?
May 17, 2016Former billionaires punished for using offshore trusts as "piggy banks" to defraud the IRS. “Never let a creditor get to your asset, no matter how bad your mistake.”
Trusts & Estates Magazine Website
IRS "Rolls Over" Where Beneficiary Designation Overlooked
May 12, 2016Without professional assistance, it’s easy for an individual to forego updating an essential element of their estate plan: beneficiary designations.
Trusts & Estates Magazine Website
The Legacy IRA: The Charitable IRA Rollover Part II
May 9, 2016Retirees searching for income who also want to give to charity are drawn to charitable remainder trusts and charitable gift annuities. You get lifetime payouts, and the charity gets its share when you die.
Forbes Magazine Website
New Federal Bill Authorizes Charitable Life-Income IRA Rollovers
May 6, 2016A life-income charitable individual retirement account rollover bill (HR5171) (The Legacy IRA Act) has just been introduced this morning by House Ways and Means Committee members.
Trusts & Estates Magazine Website
IRS Rules on Tax Consequences Associated with Early Termination of a Generation-Skipping Taxable Marital Trust
April 25, 2016Trusts & Estates Magazine Website
Improper Payments by Private Foundations
As Donald Trump learned the hard way, the consequences can be costly
March 29, 2016A private foundation, it’s been said, is a large body of money surrounded by those who want some. But, to whom may a private foundation make contributions?
Trusts & Estates Magazine Website
Legal Underpinnings for Formulating (And Defending) Estate Plans
December 21, 2015Finding your way through the tax law maze of authorities. A U.S. Supreme Court Justice’s comment on an important criminal law rule is instructive.
Trusts & Estates Magazine
Defining Real Success
January-March 2016How do you define success? For many companies, success is determined solely by monetary return, but for some progressive organizations, helping others is a critical factor when gauging the organization’s success.
Beyond The Gates Magazine