Wealth Strategies Journal

Do More, Better, Faster

Month: March 2015 (page 1 of 5)

Apple CEO Tim Cook Plans to Donate His Wealth to Charity

The Wall Street Journal reports that Apple CEO Tim Cook is joining a cluster of executives planning to give away the majority of their wealth to charity.  The detail is part of a wide-ranging profile in Fortune.  According to the article, Cook is setting aside money to cover his nephew’s … Continue reading

Teenagers Face Early Death, on Their Terms

Jan Hoffman, of the NY Times writes about pre-death planning for teenagers.  The article begins as follows:

The Tumors had disfigured AshLeigh McHale’s features and spread to her organs. A year ago, AshLeigh, 17, flew from her home in Catoosa, Okla., to the National Institutes of Health in Bethesda, Md.,

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Beneficiary Ratification Of A Trustee’s Unauthorized Act

Luke Lantta of Bryan Cave writes about beneficiary ratification of a trustee’s unauthorized act and references a recent Minnesota Court of Appeals case dealing with this issue, In re Fallgren Family Trust.  Mr. Lantta’s summary begins as follows:

The trustee-beneficiary relationship can be a little bit like a marriage,

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Florida: Probate Court Has Jurisdiction to Review Attorney Fees

Jeffrey Skatoff summarizes a recent opinion of the Second District Florida Court of Appeal, In Faulkner v. Woodruff, 2015 Fla. App. LEXIS 3185 (Fla. Dist. Ct. App. 2d Dist. Mar. 6, 2015).

In Faulkner v. Woodruff,  a probate estate was opened with under $5,000 in personal property and a homestead … Continue reading

IRA Required Minimum Distribution Reminder to Retirees

The Internal Revenue Service reminded retirees who turned 70.5 during the 2014 tax year that they must start receiving the required minimum distribution from their Individual Retirement Accounts (IRA) or their work-related retirement plans such as a 401(k), 403(b), and 457 plans by April 1st of 2015. This deadline does not apply to … Continue reading

Leimberg Report: Decanting Disasters and More!

The following notable updates were posted on Leimberg for the week of March 9- 15, 2015:

  • Steve Oshins on In re Petition of Johnson: Decanting Gone Wrong! (Estate Planning Newsletter) Decanting has become one of the most important estate planning techniques. But what happens if you don’t follow the rules?
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Members of Congress Move to Repeal Estate Tax This Week

House Ways and Means Committee member Kevin Brady, R-Texas, said March 17 that he expected the committee to mark up his estate tax repeal bill this week 23, and Senate Finance Committee member John Thune, R-S.D., said he planned to introduce a repeal bill that same week.

Brady said that … Continue reading

Preferred Interest Partnerships to Use DSUE Amounts Received by a Surviving Spouse

Rubin on Tax has noted that a recent Estate Planning article discusses a technique to gift DSUE using partnership interests.  The summary  begins as follows:

Tasty Freeze: Preferred Partnership Tax-Saving Recipe

AUTHOR(S): Michael N. Gooen and Tracy A. Snow

PUBLICATION: Estate Planning Journal – May 2015



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11th Cir: Does a trustee’s lawyer owe fiduciary duties to the trusts beneficiaries?

Juan C. Antunez, writes about the issue of whether a trustee’s lawyer owe fiduciary duties to the trust’s beneficiaries , focusing on a case under Florida law decided by the 11th Circuit Court of Appeals, Bain v. Mcintosh, — Fed.Appx. —-, 2015 WL 859481 (11th Cir. March 02, 2015).

Mr. … Continue reading

Is Understanding Technology A Paralegal’s Job Or An Attorney’s Job?

Jeff Bennion writes about understanding technology in the law firm context on Above the law.  His article begins as follows:

In a perfect world, the attorneys and the paralegals would both understand how technology works and they would work in an efficient harmony. That’s not always the reality, though. Often,

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IRS Issues Fact Sheet On Taxpayers’ Right to Confidentiality

On March 17, 2015, the Internal Revenue Service (IRS) released a fact sheet on the rights of taxpayers, specifically about confidentiality of information. In this fact sheet, the IRS restructured and grouped taxpayers’ rights in existing tax code into 10 broad categories to make it easier for taxpayers to find … Continue reading

April 2015 AFRs

The Internal Revenue Service issued April 2015 AFRs in Rev. Rul. 2015-7. To see the April AFRs, please click here.

See Rev. Rul. 2015-7.

Posted by Aryane Garansi, Associate Editor, Wealth Strategies JournalContinue reading

Life Insurance and Estate Planning

Vance E. Antonacci, of McNees Wallac & Nurick, LLC, writes about using life insurance as part of an estate plan.  After Mr. Antonacci notes that life insurance can play an important role in estate planning, and stating that it is important to understand the uses and purposes of life insurance … Continue reading

Practice Tips for New Tax Associates – M. Robinson & Company, P.C.

Morris Robinson, of M. Robinson & Company, P.C., has published his memorandum to new tax associates setting forth what is expected of them and helping them become acclimated to the practice of tax law. The memorandum discusses the following topics:

  • Focus on practice objectives/exercise common sense.
  • How to draft effective
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Do Money Woes Spur Creativity or Stifle It? – NYTimes.com

The New York Times book section discusses whether money problems spur or stifle creativity, focusing on famous authors.  The article begins as follows:

Each week in Bookends, two writers take on questions about the world of books. This week, Rivka Galchen and Mohsin Hamid discuss the role of money troubles

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