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Protecting and Transitioning Your Wealth: A Comprehensive View of Trust and Estate Planning for Family Offices

A Private Clients Group White Paper

Cummings & Lockwood’s private client attorneys recently published a white paper in conjunction with the Family Office Association entitled “Protecting and Transitioning Your Wealth:  A Comprehensive View of Trust and Estate Planning for Family Offices.”  This white paper addresses essential elements of planning – from life planning and administration to trust selection and asset protection. 

GST Tax Exemptions in Jeopardy

A recent PLR showcases risks associated with modifying grandfathered generaltion-skipping transfer trusts
May 18, 2018

The provisions of Chapter 13 of the Internal Revenue Code aren't for the faint of heart. That chapter specifically deals with the tax on generation-skipping transfers, that is transfers to individuals more than one generation below the donor.

Trusts & Estates Magazine Website

Client Alert - Charitable Contributions Guidance Updated by IRS

May 16, 2018

The IRS has consolidated and clarified charitable contributions guidance with new a Revenue Procedure effective May 16, 2018.  This impacts both private foundations, as well as individual donors.

“IRC Section 734 Adjustments: Applying the 754 Election to Distributions of Partnership Property”

May 9, 2018

Janice Eiseman, a Principal in the Stamford office, gave a CLE program for Strafford in New York City on May 9, 2018 entitled “IRC Section 734 Adjustments:  Applying the 754 Election to Distributions of Partnership Property.”

Stamford Associate, Care Howe Santoro, to participate in New York Junior League's 16th Annual Forum for Non-Profits

April 17, 2018

The New York Junior League (NYJL) will host its 16th annual Forum for Nonprofits on Wednesday, April 25, 2018. This day-long educational conference focuses on issues facing nonprofits and the communities they serve. This year’s theme is “It Starts with I: Impact, Innovation, and Inclusion.”

"What Beats A Charitable Bequest Under The New Tax Law?"

April 10, 2018

“Many people go to their lawyers and add a charity in their wills. Instead, I suggest they consider a charitable remainder trust or a charitable gift annuity,” says tax lawyer Conrad Teitell, chairman of the Charitable Planning Group at Cummings & Lockwood who has published the Taxwise Giving newsletter since 1964. Most leading charities, including colleges, offer these "planned giving" opportunities.


Gift Split Gaffe

Accountant's Mistake Could Result in Increased Generation-Skipping Transfer Taxes
April 3, 2018

When a taxpayer signs a Form 709 reporting transfers subject to federal gift tax, he signs under penalties of perjury that he’s examined the return and, to the best of his knowledge, the return is “true, correct, and complete.” But honestly, does the average taxpayer truly know or understand the tax implications of the gifts he makes? 

Trusts & Estates Magazine Website

"How To Give It Away"

February/March 2018 Issue

Laura Weintraub Beck, a trusts and estates attorney in Cummings & Lockwood’s Greenwich, Connecticut office, was quoted in an article entitled “How to Give It Away” in The Magazine published by AARP in the February/March 2018 issue.

AARP's The Magazine

Connecticut Supreme Court Recognizes Cause of Action Against Health Care Provider

March 7, 2018

Physicians Beware:  Connecticut Supreme Court Recognizes Cause of Action Against Health Care Provider Based on Unauthorized Disclosure of Confidential Information

Court Upholds Regulations Requiring Charities to Disclose Donors

March 6, 2018

Charities may not be happy about a recent ruling by the U.S. Court of Appeals for the Second Circuit that might result in donors thinking twice before pledging support to a charitable organization.

Trusts & Estates Magazine Website

Kelley Galica Peck Provides Testimony to Connecticut Lawmakers on the Finance, Revenue and Bonding Committee

March 2, 2018

Attorneys who handle estate planning for wealthy Connecticut residents told lawmakers that Connecticut's estate and gift taxes are driving out the very people the state needs in these difficult times.

Cummings & Lockwood Announces the Promotion of David M. Halpen to Principal-in-Charge of the Palm Beach Garden's Office

March 1, 2018

Cummings & Lockwood is pleased to announce that David M. Halpen, a Principal in the Firm’s Private Clients Group, has been promoted to Principal-in-Charge of the Firm’s Palm Beach Gardens office.