Cummings & Lockwood LLC
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News & Insights

Cummings & Lockwood Announces the Addition of Six New Associates to the Firm’s Private Clients Group

April 9, 2021

Cummings & Lockwood is pleased to announce the addition of six new Associates to its Private Clients Group in Connecticut and Florida.

New York Set to Increase Income Taxes on High Earners

April 8, 2021

Governor Cuomo and New York legislators recently announced an agreement on New York’s budget that includes a significant increase for the income tax rates that will be charged against New Yorkers with high levels of income.  The bill is expected to pass. 

Here Come the Taxes…Maybe?

March 17, 2021

With the recent passage of the American Rescue Plan, President Biden’s $1.9 trillion stimulus package, it is natural to consider what kind of revenue generating legislation may be coming in the next months and years in order to pay for what has now been three separate rounds of stimulus bills to address the challenging economic conditions brought on by the Covid-19 pandemic.

18 Cummings & Lockwood Attorneys Named Top Lawyers in Fairfield County, Connecticut in 2021

March 12, 2021

Cummings & Lockwood is pleased to announce that 18 of its attorneys have been recognized as “Top Lawyers in Fairfield County” in 2021 as published by Moffly Media in its annual list of Top Lawyers.  


Moffly Media

Corporate Attorney, Brendan Snowden, Promoted to Principal

February 1, 2021

Cummings & Lockwood LLC is pleased to announce that Brendan Snowden, an attorney in the Firm’s Corporate & Finance Group, has been promoted to Principal.

Five Cummings & Lockwood Attorneys Recognized as “Ones to Watch” in 2021 by The Best Lawyers in America

February 1, 2021

Cummings & Lockwood LLC is pleased to announce that five Cummings & Lockwood attorneys have been recognized by The Best Lawyers in America as “Ones to Watch” in 2021.

Estate Planning

A Private Clients Group White Paper

The goal of estate planning is to provide for the management and transfer of your property, in the event of your death or incapacity, at the smallest financial and emotional cost to your family. 

Administration of Irrevocable Insurance Trusts

A Private Clients Group White Paper

This memorandum is designed to outline some of the basic administrative steps to be followed by the Trustee of an irrevocable insurance trust.  When properly implemented and administered, such a trust will prevent the imposition of estate tax on any life insurance policies owned by the trust, both at the insured’s death and at the death of the insured’s surviving spouse.

Relocating to Connecticut

A Private Clients Group White Paper
January 25, 2021

Cummings & Lockwood has prepared this memorandum to provide basic information about relocating to Connecticut.  Drawing on our experience in advising newly relocated clients, we have summarized certain local procedures and laws which may be helpful to you in preparing to live in Connecticut.

What will happen to estate, gift and generation-skipping transfer tax exemptions in 2021 and beyond?

January 21, 2021

With the inauguration of President Joe Biden and a congress narrowly controlled by the Democratic party, many clients and estate planners have begun to worry about what, if anything, will happen to the federal estate, gift and generation-skipping transfer (“GST”) tax exemptions and rates in 2021 and beyond.

New York Changes Durable Power of Attorney Law

January 11, 2021

On December 15, 2020, Governor Cuomo signed into law a bill changing New York’s durable power of attorney statutory form.  The goal was to simplify the form and alleviate practical problems that result from the current statutory form.  

IRS Issues Final Regulations on Taxation of Carried Interest under IRC 1061

January 8, 2021

On July 31, 2020, the Internal Revenue Service issued proposed regulations regarding taxation of an “Applicable Partnership Interest” or API, under Internal Revenue Code (IRC) section 1061, clarifying and elaborating on the taxation of  API (including items such as carried interest).  In 2017, under what is commonly known as the Tax Cuts and Jobs Act, Congress enacted IRC 1061.