News & Insights
Fractional Gifts of Art
Reducing Capital Gains Taxes with Charitable Remainder Trusts
Conrad Teitell, Laura Weintraub Beck and Sarah A. Ricciardi wrote an article for Trusts and Estate Magazine entitled "Fractional Gifts of Art" which was published in the June 2019 Issue.
Trusts & Estates Magazine
Connecticut Real Estate Sales in Excess of $2.5 Million Will Face Additional “Mansion Tax” under New Law
June 9, 2019The recently approved Connecticut 2020/2021 state budget includes an increase in the rate of tax charged on real estate sales in excess of $2.5 million, which is being referred to as the “mansion tax.” This new rate structure will be effective on July 1, 2020.
Connecticut Enacts Historic and Sweeping Trust Legislation
June 4, 2019The Connecticut legislature, on June 5, 2019, enacted HB 7104, an Act Concerning the Connecticut Uniform Trust Code. This massive bill, over 90 pages in length, adopts four major categories of revisions to trust law that will greatly enhance the administration of trusts and planning opportunities for clients in Connecticut.
Connecticut Enacts Historic and Sweeping Trust Legislation
June 4, 2019The Connecticut legislature, on June 5, 2019, enacted HB 7104, an Act Concerning the Connecticut Uniform Trust Code. This massive bill, over 90 pages in length, adopts four major categories of revisions to trust law: Dynasty Trusts, Domestic Asset Protection Trusts, Directed Trusts and Statutory Trust Rules. Kelley Galica Peck, a partner in Cummings & Lockwood’s Private Clients Group who is based in the Firm’s West Hartford office, was instrumental in the drafting and proofing of The Act.
Administering Your Revocable Trust
A Private Clients Group White Paper
This Memorandum is intended as a general guide for you to use in administering your Revocable Trust (also known as a “Living Trust”) and deciding whether you wish to transfer assets to (or “fund”) your Revocable Trust during your lifetime. This Memorandum also provides guidance for making the title transfers that are necessary if you do wish to fund your Trust during your life.
Irrevocable Life Insurance Trusts
A Private Clients Group White Paper
Many people are attracted to life insurance by the promise of security a life insurance policy can provide. Advertisements for life insurance policies frequently point out that life insurance proceeds can help the survivors of the insured accomplish a number of objectives, including paying off a mortgage, providing the funds required for the complete education of children and providing family members with an additional source of income.
Greenwich Magazine - Family Matters
From Her Career to Her Philanthropic Endeavors, Laura Beck is Breaking Down Walls
May 2019 IssueRather than avoid an uncomfortable subject, Laura Weintraub Beck, Chairman of the Private Clients Group at the Cummings & Lockwood law firm, uses her legal expertise to help clients navigate the complexities of life and death in a financially savvy and meaningful way.
Greenwich Magazine
Cool Charitable Contribution Strategies in the New Tax Climate
May 22, 2019Conrad Teitell, a Principal in the Stamford office of Cummings & Lockwood spoke at the 38th Annual Attorney/Trust Officer Liaison Conference which was held Thursday, August 22 - Saturday, August 24, 2019 at The Breakers in Palm Beach, Florida.
The IRS Clarifies that Private Equity, Hedge Funds and Other Partnerships are Subject to Withholding Requirements When Foreign Persons are Involved
May 22, 2019On May 7, 2019, the IRS issued proposed regulations for new code section 1446(f), which requires withholding of income tax when a foreign person recognizes gain or loss from the sale or exchange of certain partnership interests, as described in IRC 864(c)(8).
Add Calling Your Trusts and Estates Attorney to Your To Do List Before Your High School Grad Heads Off to College the Fall
May 20, 2019Congratulations! Your child has graduated high school, been accepted to college and has either turned 18 years old or is close to it. As you make your college prep to do list, you might want to add calling your trusts and estate attorney to the list.
Laura Weintraub Beck Honored by the Child Guidance Center of Southern Connecticut
May 3, 2019On May 4, 2019, the Child Guidance Center (CGC) of Southern Connecticut presented Laura Weintraub Beck the inaugural Edna and Malcolm Edgerton Award at their annual gala which was held at the Wee Burn Beach Club.
Effective Charitable Giving Strategies for Seniors
April 29, 2019Mary Beth Crawford, a Partner in the Bonita Springs office of Cummings & Lockwood spoke at a luncheon on "Effective Charitable Giving Strategies for Seniors" which was held on May 1, 2019 at 12:00 p.m. at The Terraces at Bonita Springs in the Wagon Wheel Room. Learn the best ways to support your favorite charities.