News & Insights
Conrad Teitell, Heather J. Rhoades and Brianna L Marquis wrote an article for Trusts and Estate Magazine entitled "No Thank You: Tax, Legal and Practical Consequences of Charitable Gifts Returned to Donors" which was published in the January 2020 Issue.
Trusts & Estates Magazine
Private foundations will now be subject to a flat excise tax of 1.39% on their net investment income. As part of the Further Consolidated Appropriations Act, 2020, Public Law No. 116-94, that was passed on December 20, 2019, the new flat rate will be effective for tax years beginning after December 20, 2019.
This year marked Cummings & Lockwood's 110th anniversary. Our founders, Homer Cummings and Charles Lockwood, opened the firm over a century ago in Stamford, Connecticut. Since then, we have grown to over 200 lawyers, fiduciary accountants, paralegals and staff, with six locations in Connecticut and Florida.
The Setting Every Community Up for Retirement Enhancement ("SECURE") Act passed the U.S. House of Representatives and Senate as part of the Spending Bill and is expected to be signed by the President before December 24th.
WEBINAR: Operating Charitable Entities: Help clients choose their philanthropic paths through a private foundation or donor-advised fundDecember 11, 2019
Stefania L. Bartlett and Cara Howe Santoro, attorneys in the Private Clients Group of Cummings & Lockwood will participate in a Webinar on Wednesday, December 11, 2019 at 2:00 p.m. EST hosted by WealthManagement.com and moderated by Susan Lipp, Editor-in-Chief of Trusts & Estates Magazine.
Cummings & Lockwood Assists with the Refinancing of Greenwich Plaza, One of the Largest Commercial Real Estate Financings in Fairfield County in 2019December 5, 2019
Cummings & Lockwood recently represented The Ashforth Company on its $150 million refinancing of the Greenwich Plaza office and retail complex, a trophy property located in the central business district of Greenwich, overlooking Long Island Sound
This annual update summarizes the current status of the estate and gift tax rates and exemptions at the federal and state levels (Connecticut, New York and Florida) and highlights key provisions of these important state law developments.
This chart details the federal estate and gift tax rates and exemptions for the period 2017-2026.
This chart details the Connecticut estate and gift tax rates and exemptions for the period 2017-2026.
This uniform lifetime table details the minimum distributions allowed from traditional IRAs from the ages of 70 through 90.
IRS Confirms Gifts Using Higher Exemption Amounts Won’t Be “Clawed back” for Estate Tax Purposes After 2025November 22, 2019
The Treasury Department and the Internal Revenue Service have officially confirmed that in the event the federal gift and estate tax exemptions are reduced in the future, taxpayers will not be penalized with a “clawback” for the use of higher exemption amounts.
Cummings & Lockwood’s Private Clients Group in Stamford and Greenwich hosted its 2019 Professional Advisors Seminar on Thursday, November 21, 2019, at the Inn at Longshore in Westport, Connecticut.