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“SECURE Act” Set to Become Law and Eliminate “Stretch” Inherited IRAs for Non-Spouse Beneficiaries

December 19, 2019

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.

Cummings & Lockwood Assists with the Refinancing of Greenwich Plaza, One of the Largest Commercial Real Estate Financings in Fairfield County in 2019

December 4, 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

Federal Estate and Gift Tax Rates and Exemptions 2017-2026

This chart details the federal estate and gift tax rates and exemptions for the period 2017-2026.

Connecticut Estate and Gift Tax Rates and Exemptions 2017-2026

This chart details the Connecticut estate and gift tax rates and exemptions for the period 2017-2026.

Uniform Lifetime Table for Required Minimum Distributions From Traditional IRAs*

This uniform lifetime table details the minimum distributions allowed from traditional IRAs from the ages of 70 through 90.

2019 Private Clients Group Annual Client Update

November 25, 2019

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.

IRS Confirms Gifts Using Higher Exemption Amounts Won’t Be “Clawed back” for Estate Tax Purposes After 2025

November 21, 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.

2019 Professional Advisors Seminar

November 20, 2019

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. 

2019 Year-End Summary of Federal, Connecticut and New York Estate, Gift and Transfer Tax Update

November 2019

In this video, Rachel Rhein Zarghami, a Counsel in Cummings & Lockwood’s Private Clients Group, reviews the 2019 year-end Federal, Connecticut and New York estate, gift and generation-skipping transfer tax laws, as well as the laws of other states that have changed their estate tax exemptions.  (4:05)

Connecticut Uniform Trust Code (CUTC)

November 2019

In this video, Jessie A. Gilbert, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the Connecticut Uniform Trust Code which was effective on January 1, 2020.  This Act is a major revision to the trust law in Connecticut, containing many changes to the administration of trusts in Connecticut and creating some new planning opportunities for clients in Connecticut.  (16:53)

Connecticut Dynasty Trusts and Directed Trusts

November 2019

In this video, Daniel P. Fitzgerald, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the Directed Trust Act which is part of the new trust legislation in Connecticut.    (13:03)

Connecticut Domestic Asset Protection Trusts

November 2019

In this video, Laura Weintraub Beck and Margaret A. Deluca, Principals in Cummings and Lockwood’s Private Clients Group, discuss Connecticut Domestic Asset Protection Trusts, part of sweeping trust legislation which became effective on January 1, 2020.   (28:43)