Cummings & Lockwood

News & Insights

IRS Denies IRC Section 1035 Tax Deferral in Annuity Exchange

June 29, 2016

A 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
By Andrew M. Nerney and Andrew Brett Seiken

Cummings & Lockwood Recognized As One of the Leading Trusts and Estates Practices in Connecticut by Chambers

June 29, 2016

Cummings & Lockwood is pleased to announce that it has been recognized by Chambers and Partners in their inaugural global High Net Worth Guide -- aimed at the international private wealth market -- as having one of the leading trusts and estates practices in Connecticut, ranking at the top of band 1. 

The Fiduciary vs. Sovereign Immunity

June 14, 2016

Estates 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
By Andrew M. Nerney and Andrew Brett Seiken

Heather J. Rhoades Named 2016 Hartford Trusts & Estates Attorney of the Year

May 2016

This recognition awards recipients based on their particularly high level of peer recognition in their respective practice area. 

Asset Protection or Abusive Tax Planning?

May 17, 2016

Former 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
By Andrew M. Nerney and Andrew Brett Seiken

IRS "Rolls Over" Where Beneficiary Designation Overlooked

May 12, 2016

Without professional assistance, it’s easy for an individual to forego updating an essential element of their estate plan: beneficiary designations.

Trusts & Estates Magazine Website
By Andrew M. Nerney and Andrew Brett Seiken

The Legacy IRA: The Charitable IRA Rollover Part II

May 9, 2016

Retirees 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, 2016

A 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, 2016

A surviving spouse was the beneficiary of two marital trusts established under her late husband’s revocable trust agreement.

Trusts & Estates Magazine Website
By Andrew M. Nerney and Andrew Brett Seiken

Improper Payments by Private Foundations

As Donald Trump learned the hard way, the consequences can be costly
March 29, 2016

A 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

Implications of the Emergency Economic Stabilization Act

Help Your Clients Plan for a 2017 Deadline
February 18, 2016

Laura Weintraub Beck, a Principal in Cummings & Lockwood's Private Client Group gave a presentation to the Fairfield County Community Foundation Professional Advisors Council on the "Implications of the Emergency Economic Stabilization Act" on Thursday, February 18, 2016.

Laura Weintraub Beck of Cummings & Lockwood Receives YWCA Greenwich BRAVA Award

February 5, 2016

Established in 1977, the YWCA Greenwich BRAVA Awards recognize outstanding women achievers who have excelled in their professional careers and who also volunteer their time and talent to help others.


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