Wealth Strategies Journal

Do More, Better, Faster

Author: Pooja Shivaprasad (page 1 of 7)

Rubin On Tax: A Death Abroad – Assistance and Issues

Charles Rubin writes about dealing with the laws and regulations of the death of a loved one outside the US.

Read the beginning of the article here:

The death of a loved one is obviously a difficult time and process for family and friends. If the decedent dies outside of

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High Net Worth Family Tax Report, Vol. 11, No. 1

Thomas Lawson and Allan J. Tarr of Loeb and Loeb LLP have made available for download their High Net Worth Family Tax Report.

Read the Table of Contents here:

  • IRS Addresses a Section 1031 Exchange of Aircraft
  • How Many Ways Can You Lose Your Charitable Contribution Deduction?
  • Bad-boy Loan Guarantee
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Rubin on Probate Litigation

Jenna Rubin writes about the case of Vigliani v. Bank of America, which asked the trial court to consider whether a decedent’s revocable trust required a Family Trust to be funded with $3.5 million (exemption amount in 2009), $5 million (the exemption amount in 2010), or some other amount.… Continue reading

Fiduciary Alert: IRS Again Extends Time for Consistent Basis Reporting Via Form 8971 until June 30, 2016

Brian Kahle of Tucker Arensberg, P.C. shares his thoughts regarding the IRS’s time extension until June 30, 2016 for consistent basis reporting via Form 8971.

Effective March 23, 2016, the Treasury Department and Internal Revenue Service published Notice 2016-27, once again extending, until June 30, 2016, the deadline for executors

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Update on ABLE Accounts in Maryland

Pessin Katz Law P.A. has made available their thoughts on ABLE (Achieving a Better Life Experience) accounts in Maryland, which provides benefits for the parents of special needs children.

The article beings as follows:

PK Law previously reported on the advent of ABLE (“Achieving a Better Life Experience”) accounts (the

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Probate Lending by David Horton

David Horton and Andrea Chandrasekher has made available for download their article, “Probate Lending,” published in the Yale Law Journal, Vol. 126.

The Abstract begins as follows:

One of the most controversial trends in American civil justice is litigation lending: corporations paying plaintiffs a lump sum in return for a

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A Review of Alexander A. Bove, Jr., Trust Protectors: A Practice Manual with Forms by Richard Ausness

Richard Ausness has made available for download his article “A Review of Alexander A. Bove, Jr., Trust Protectors: A Practice Manual with Forms,” published in the Quinnipiac Probate Law Journal, Vol. 29, No. 2.

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Alexander Bove has recently written a thoughtful, comprehensive and practical book entitled

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How Life Insurance Loans Really Work and How It’s Problematic to ‘Bank on Yourself’

Michael Kitces discusses the various risks and benefits involved with life insurance loans and why it’s better not to ‘bank on yourself’.

The article beings as follows:

A popular feature of permanent life insurance is that it accumulates cash value that can grow over time – ensuring that if the policy

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Rubin on Tax: Income Tax Assessment on Beneficiary Allowed Even Though the Statute of Limitations Had Expired

Charles Rubin discusses the case of Sally Costello v. Commissioner. The case shows how the IRS was able to assess income taxes against two trust beneficiaries even though the statute of limitations for assessment has expired due to the mitigation provisions of the Internal Revenue Code.

The article begins as … Continue reading

Life Insurance and Retirement Plan Benefits: Are Your Clients Achieving Their Intended Goals by Albert Feuer

Albert Feuer has made available for download his article, “Life Insurance and Retirement Plan Benefits: Are Your Clients Achieving Their Intended Goals,” published in the NYSBA J. 28.

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A substantial part of the assets of many individuals consists of benefits from life insurance and retirement plans

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Wills Above Ground by Thomas E. Simmons

Thomas E. Simmons has made available for download his article “Wills Above Ground,” published in the Elder Law Journal, Vol. 23, No. 2.

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With the widespread adoption of electronic court filing systems comes the ability to more easily and efficiently peer into the rich data of

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Rubin on Tax: Out of State Homestead Exemption Void Florida Exemption

In his article, Charles Rubin discusses the case of Venice L. Endsley v. Broward County regarding the constitutionality of denying exemption to the spouse of a person who sought exemption in another state.

Check out his thoughts here:

Florida exempts a portion of a Florida homestead from ad valorem tax.

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The 3 W’s (Who, What, and When) of Estate Tax Penalties and Liabilities by Nikki Laing

Nikki Laing has made available for download her article, “The 3W’s (Who, What, & When) of Estate Tax Penalties and Liabilities,” published in the Real Estate, Probate, and Trust Law Reporter, Vol. 54, No. 2.

Read the Abstract here:

Why should the typical lawyer be concerned with staying abreast of federal

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Steve Akers: Estate of Holliday v. Commissioner, T.C. Memo 2016-51

Steve Akers, Senior Fiduciary Counsel, Southwest Region, Bessemer Trust, has made available for download his musings on the case of Estate of Holliday v. Commissioner.

The synopsis of the discussion begins as follows:

The court concluded that no legitimate and significant reasons for creating an FLP existed and that

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Rubin on Tax: New Basis Consistency and Reporting Proposed Regulations – Did the IRS go too far?

Charles Rubin discusses in his article the proposed regulations under new Code Sections 1014(f) and Section 6035, relating to assets received from a decedent. He questions their two requirements: the zero basis for assets not reported on an estate tax return and the endless Form 8971 filings.

The article beings … Continue reading

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