News & Insights
Cummings & Lockwood’s Naples, Florida office recently marked its 40th Anniversary. Established in 1978, the Naples office was the first Cummings & Lockwood office to be opened in Florida.
A primer on a plethora of philanthropic provisions
Trusts & Estates Magazine
Cummings & Lockwood LLC is pleased to announce that Kathleen M. Merrigan, Residential Real Estate Counsel in the Firm’s Greenwich Office, has been promoted to Principal, effective January 1, 2019.
Charitable-minded Americans age 70½ or older are allowed tax-free transfers from their IRAs to make direct gifts to charitable organizations.
Steve Leimberg's Charitable Planning Newsletter
Internal Revenue Manual Updates Provide Welcome Guidance for Federal Estate Tax Lien Release ProcessSeptember 5, 2018
Real property owned at the time of an individual’s death is subject to a federal estate tax lien, which, in accordance with IRC section 6324, attaches to the property automatically and provides security for any estate taxes that may be owed.
August 30, 2018
Cummings & Lockwood LLC successfully defeated an argument by the Internal Revenue Service where the IRS required the payment of additional federal estate tax based on the IRS’s partial disallowance of the deduction for state death taxes under § 2058 of the Internal Revenue Code (the “IRC”).
The donor allocates the property's cost basis between the gift element and the sale element, based on the fair market value of each part.August 24, 2018
The donor allocates the property's cost basis between the gift element and the sale element, based on the fair market value of each part.
The New York Law Journal
Client Alert - IRS Proposes Regulations on How the Qualified Business Income Deduction (199A) Will Apply to Estates and TrustsAugust 17, 2018
The Tax Cuts and Jobs Act of 2017 (the "Act") created a new deduction under section 199A of the Internal Revenue Code for Qualified Business Income. The new deduction allows the owner of an interest in a pass through entity to take a deduction of up to 20% of the Qualified Business Income of the entity each year.
Cummings & Lockwood is pleased to announce that Laura Weintraub Beck has been appointed Chair of the Firm’s Private Clients Group, effective immediately.
Cummings & Lockwood Recognized As One of the Leading Trusts and Estates Practices in Connecticut by Chambers & PartnersJuly 26, 2018
Cummings & Lockwood is pleased to announce that for the third year in a row the Firm’s Private Clients Group has been ranked in Tier 1 by Chambers & Partners in the 2018 edition of Chambers High Net Worth Guide. The Guide, which is based on objective and independent research, recognizes the world’s leading high net worth advisers.
Cummings & Lockwood is pleased to announce that the following seven trusts and estates attorneys in the Firm’s Naples and Bonita Springs offices have been selected Florida Super Lawyers in 2018.