Yi Song

Note from the Editor Tax law updateGRAT ExpectationsFamily Capital Planning and Captive Risk ManagementDo Your Homework on Indexed Universal Life InsuranceAre IRAs and Charities the Perfect Match?Plan Ahead for Roth IRA ConversionsCreditor Claims ... Read More

The BNA Tax management's Estates Gifts & Trusts Journal has published its Volume 34 Number 6 Issue. Articles include the following:Can Beneficiary Happiness and Trust Coexist? A Discussion of Intent and Application Don't Overlook the Benefits -- Ta... Read More

Brian S. Wesbury and Robert Stein, economists of XXX has published an article on their weekly column for Forbes magazine. They are predicting an average growth rate of 3% in the second half of 2010. A 2.5% annual rate of... Read More

This article explains a little-known technique that will help protect you in a falling market. When the stock sinks to its lowest price level in a given time period, it means it has hit bottom. Investors are trying to find... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on his blog about the process of Newcomb case, which concerns Tulane University's decision to close Newcomb College, the school's historic women's coordinate colleg... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on Wills, Trust & Estates Prof Blog on September 23, 2010 addressing when estates are taxed, the government is really just taking capital away from... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on Wills, Trust & Estates Prof Blog on September 23, 2010 discussed the symposium published by Professor Anne Alstott (Manley O. Hudson Professor of Law,... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on Wills, Trust & Estates Prof Blog on September 23, 2010 addressed the Senate Minority Leader Sen. McConnell (R-KY) introduced S. 3773, Tax Hike Prevention... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on Wills, Trust & Estates Prof Blog on September 27, 2010 addressed the book recently published by Karen Jones (author, educator, and broadcast journalist) Deat... Read More

Professor Gerry W. Beyer at Texas Tech University School of Law published a new article on Wills, Trust & Estates Prof Blog on September 27, 2010 addressed the lapse of generation-skipping transfer tax (GSTT). It offers the wealthy individuals a... Read More

Here are some recently published articles on estate tax from various sources. Please click the link below to read the entire articles: Clarification on the Responsible Estate Tax ActGrassley blasts Democrat inaction on the estate taxCBO's Elmendorf Mea... Read More

Dalton Conley (University Professor and Dean for the Social Sciences, New York University) recently published his commentary entitled Tax Revolts, Pregnancy Envy, Race, and the "Death Tax," 63 Tax L. Rev. 261 (2009). The conclusion is below: Thus, to t... Read More

Tom Van Riper From Forbes Magazine published an article on October 1, 2010 addressing half of NFL ownership fraternity sits in 10 figure club. Led by Microsoft cofounder and Seattle Seahawks owner Paul Allen, whose $12.7 billion net worth make... Read More

Gideon Rothschild, co-chair of Moses & Singer's Trusts and Estates practice and chair of the Asset Protection practice and Daniel S. Rubin, a partner in the same law firm will hold webinar program on Thursday, October 21, 2010 from 2:00... Read More

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Jason N. Summerfield (attorney, NY) recently published his article entitled Disinheritance in New York State: Legacies We Do and Do Not Leave, 43 Creighton L. Rev 785 (2010). The abstract available on SSRN is below:"The recent Illinois case, In re... Read More

Myra Salzer (Founder of The Wealth Conservancy) recently published her book entitled Living Richly: Seizing the Potential of Inherited Wealth (Legacy Press 2010).  The book will be available November 16."Living Richly provides guidance to any pers... Read More

As of October 5, 2010, Professor Gerry W. Beyer from Texas Tech University School of Law has published 4 new articles on his blog: Provident Trust Group Gets a Jump StartFederal Estate Tax Update 2010Business Succession PlanningEstate Tax on Non-Probat... Read More

Nathan G. Rawling (2010 J.D. Candidate, Quinnipiac University School of Law) recently published his note entitled A Testamentary Gift of Felony: Avoiding Criminal Penalties from Estate Firearms, 23 Quinnipiac Prob. L.J. 286 (2010). The introduction is ... Read More

"Although trust companies and independent investment advisors have had a rocky relationship in the past, directed trusts have been emerging as a win-win vehicle lately.Christopher Holtby and Chuck Sharpe, co-founders of Wealth Advisors Trust, have... Read More

Lawrence W. Waggoner (Lewis M. Simes Professor of Law, University of Michigan Law School) recently published his article entitled Congress Should Impose a Two-Generation Limit on the GST Exemption: Here's Why, U. of Michigan Public L. Working Paper No.... Read More

Ashlea Ebeling and Janet Novack, The Federal Tax Law is an Uncertain Mess. Here's How to Plan Anyway, Forbes.com, Oct. 7, 2010. Since so many tax issues are up in the air right now, you should organize your tax moves... Read More

Recently attorney Connie Fontaine published article Advantages of Making Gifts During Life, Pt. 1 at ProducersWeb.com Some advantages to making inter vivos gifts, other than tax advantages, include:   Privacy. Unless you are gi... Read More

Raymond C. O'Brien (Professor of Law, Columbus School of Law) recently published his article entitled Integrating Marital Property Into a Spouse's Elective Share, 59 Cath. U. L. Rev. 617 (2010).  An excerpt from the introduction is below: "This Ar... Read More

Melanie B. Leslie (Professor of Law, Cardozo Law School) recently published her article entitled Helping Nonprofits Police Themselves: What Trust Law Can Teach Us About Conflicts of Interest, 85 Chicago-Kent L. Rev. 551 (2010). The abstract available o... Read More

Financial Advisor published an article Estates May Hold Mysteries, Even for Advisors October 11, 2010 addressing why many estate plans aren't as precise as they should be, the reason includes: The client didn't give the estate planner an accurate balan... Read More

Thaddeus Mason Pope (Associate Professor of Law, Widener University Law School - Health Law Institute) recently published his article entitled Legal Briefing: Advance Care Planning, 20 J. of Clinical Ethics 362 (2009). The abstract available on SSRN is... Read More

The National Business Institute is sponsoring a 90-minute national teleconference entitled Medicaid Eligibility and Post-Eligibility Issues on November 1, 2010. The program description is below: Review key nursing home eligibility rules. Get a legal re... Read More

Kristine S. Knaplund (Professor of Law, Pepperdine University School of Law) recently published her article entitled Charity for the 'Death Tax': The Impact of Legislation on Charitable Bequests, 45 Gonzaga L. Rev. 713 (2010). The abstract available on... Read More

Missouri Court of Appeals Eastern District recently issued a judgment on Medicaid Applicant's farmland is not an available resource Vaughn v. Missouri Dept. of Social Services (Mo. Ct. App., E. Dist., No. ED94196, August 31, 2010).Even though Alice Vau... Read More

Nancy J. Knauer (Professor of Law, Beasley School of Law) recently published her article entitled Gay and Lesbian Elders: Estate Planning and End-of-Life Decision Making, 11 Florida Coastal L. Rev. -- (2010). The abstract available on SSRN is belo... Read More

The Court of Appeals of California, Second District, Division Six recently issued a judgment in Araiza v. Younkin, (2010 Cal. App. LEXIS 1688), a provision in a decedent's revocable inter vivos trust was held sufficient to find an intent to... Read More

Thomas P. Gallanis (N. William Hines Professor of Law, University of Iowa School of Law) and Lawrence W. Waggoner (Lewis M. Simes Professor of Law, University of Michigan Law School) recently published their book entitled Estates, Future Int... Read More

Peter T. Wendel (Professor of Law, Pepperdine University School of Law) recently published his article entitled The Succession Rights of Adopted Adults: Trying to Fit a Square Peg Into a Round Hole, 43 Creighton L. Rev. 815 (2010). The conclusion... Read More

Phyllis Smith (Associate Professor of Law, Florida A&M University College of Law) recently published her article entitled Change Isn't Always a Good Thing: Estate Tax Reform and Impact on Charitable Organizations and Low-Income Individuals and Fami... Read More

Benjamin D. Patterson recently published his note entitled The Uniform Trust Code Revives the Historical Purposes of Trusts and Reiterates the Importance of the Settlor's Intent, 43 Creighton L. Rev. 905 (2010).  The conclusion is below:"Historica... Read More

Scott Martin, the contributing editor to Trust Advisor Blog published article Expert Says Banks No Longer Key Player in Personal Trust Business, Sept. 18, 2010. According to research done, banks in the trust business have lost huge market share to... Read More

U.S. District Court District of Connecticut recently issued in Lopes v. Starkowski (U.S. Dist. Ct., Dist. Conn., No. 3:10-CV-307, August 11, 2010). The facts of the case is that after John moved into a nursing home, his wife Amelia bought... Read More

Deloitte Tax LLP's Kyle Woitel, partner, and Ryan Stecz, senior manager, discuss the tax landscape and considerations, in the latest episode of Deloitte Insights.Highlights of the podcast: An S Corporation is a legal business structure that in general ... Read More

Richard Hyland (Professor of Law, Rutgers School of Law) recently published his book entitled Gifts: A Study in Comparative Law (Oxford University Press May 2009). The publisher's description is below:"Over the past two thousand years, Western legal sy... Read More

Erin Calabrese, Lucy Kinder, & Candice Giove, 'Sperm' Widow in Mistress Twist, N.Y. Post, Oct. 17, 2010. "George Kamau killed himself on Monday in the home of his girlfriend, Etaghua Asefa. Justice Kornreich signed off on a sperm-preservation reque... Read More

Michael Schmidt recently published his note entitled Negron v. United States: the Sixth Circuit Improperly Applied the Eighth Circuit's Unreasonable and Unrealistic Results Exception Resulting in its Conclusion That the IRS Annuity Tables Must be Used ... Read More

Sonja Pippin (Assistant Professor of Accounting and Information Systems, University of Nevada--Reno) recently published her article entitled Income Tax Accounting for Trusts and Estates, J. of Accountancy, Oct. 2010. The executive summary is below:"Inc... Read More

Ed McCaffrey, a Professor of Law at USC School of Law, recently published an article, It's Unfair, and There's a Better Way, on Wall Street Journal, Sept. 20, 2010."If the law allows people to keep what they earn, everyone has... Read More

The National Business Institute is sponsoring a 90-minute national teleconference entitled Terminating Trusts on November 18. The program description is below:Trust termination triggers are most often built into the original document. What isn't includ... Read More

Robert L. Moshman (attorney, New York & New Jersey) recently published his article entitled A Kafkaesque Estate and Bracing for the 2011 Tax Uncuts, The Estate Analyst (Sept. 9, 2010). The introduction is below:If Franz Kafka were writing... Read More

Scott Martin, Marital Trusts May Block Steinbrenner and Kluge Heirs Reaping Billions from 2010 Estate Tax Loophole, The Trust Advisor Blog, Sept. 25, 2010.While some people complain about billionaires cheating the IRS by dying during the federal estate... Read More

Deborah L. Jacobs recently published an article For Legal Fees, It's More of a Buyer's Market, on N.Y. Times, Oct. 21, 2010."Technology allows law firms to automate more and more functions, giving clients the bargaining power to negotiate fees in... Read More

Deborah L. Jacobs recently published an article Leave the Children the House, Without a Hefty Tax Bill, N.Y. Times, Oct. 20, 2010."If the estate tax comes back as planned in 2011, many middle-class Americans will owe estate taxes, mainly due... Read More

Lawrence W. Waggoner (Lewis M. Simes Professor of Law, University of Michigan Law School) recently published his article entitled The Uniform Probate Code's Elective Share: Time for a Reassessment (With an Addendum Reporting on Post-Publication Amendme... Read More

New York Senators Duane and Squadron proposed S7725, a bill that would create an "opt out" organ donation system for New York state, making everyone an automatic organ donor. Instead of registering to become an organ donor in New York, individuals... Read More

Howard Gleckman recently published article No Estate Tax, But 2010 Still May Not be so Great for Heirs, Tax Policy Center, Sept. 30, 2010."Although potential heirs may think they'd be better off if their rich grandfather died at the end... Read More

The National Business Institute is sponsoring a 90-minute national teleconference entitled Elder Law: What to do When a Spouse is Confronting Health Issues on December 1, 2010. The program description is below:Dealing with incapacity and end of life de... Read More

Emily Lambert recently published the article How to Make Your Money Last in Retirement on Forbes.com on October 29, 2010. If you're like many people, you've put considerable time and effort into socking away money for retirement. But even then... Read More

Anne Tergesen recently published an article Last Chance to Foil a Gift Tax on The Wall Street Journal: It isn't just the estate tax that's scheduled to return on Jan. 1 after a one-year absence. A lesser-known companion levy will... Read More

Brian Strachan recently published an article in Daily News Transcript on How to Smartly give away assets during your lifetime on October 31, 2010. If you want to engage in lifetime gifting of some of your assets, you should be... Read More

November 11, 2010 Westminster Canterbury 250 Pantops Mountain Road Charlottesville, VA Schedule 8:30 a.m., Breakfast & Registration 9 a.m. - 1:30 p.m., Program & LunchJoin us for tips on addressing the legal and business challenges of today's r... Read More

Aprill: Section 501(c)(4) Organizations, the Gift Tax, and the Disclosure Rules Professor Ellen P. Aprill (Loyola Law School L.A.) commented on Section 501(c)(4) Organizations, the Gift Tax, and the Disclosure Rules: Recent discussions of whether gifts... Read More

Arden Dale recently published Shielding an Estate From Unloved In-Laws, Financial Adviser, Sept. 30, 2010.When a child falls in love and plans to get married, the child's parents may not share the love--or want to share their wealth. A simple... Read More

Anne Tergesen recently published an article Last Chance to Foil a Gift Tax, W.S.J., Oct. 30, 2010. In addition to the estate tax returning on January 1, the GST tax will return as well. The GST tax applies to gifts... Read More

Jay A. Soled (Professor, Rutgers Business School) recently published his article entitled Implications of Discovering Unreported Income, Improper Deductions, and Hidden Assets Upon a Taxpayer's Death, 44 Ga. L. Rev. 697 (2010). The introduction is belo... Read More

A new article recently is published Annuity Purchased Post-Eligibility Determination is Available Resource on ElderLawAnswers, Oct. 4, 2010. After Glenda Morris applied for Medicaid, Oklahoma told her that she needed to spend down her share of ass... Read More

Brenda Sapino Jeffreys, WWJO'QD? As Executor of Friend's Estate, T. Gerald Treece Asks Himself "What Would John O'Quinn Do?", Texas Lawyer, Nov. 1, 2010. T. Gerald Treece, a professor at South Texas College of Law, has spoken out about the... Read More

Morgan Kirkland Wood (2011 J.D. Candidate, University of Georgia Law) recently published a note entitled It Takes a Village: Considering the Other Interests at Stake When Extending Inheritance Rights to Posthumously Conceived Children, 44 Ga. L. Rev. 8... Read More

Scott Martin recently published an article Who's Charging What for Trust Services? Part 3, The Trust Advisor Blog, Oct. 2, 2010. The Trust Advisor Blog conducted its trust industry survey for the third quarter of 2010. It found that providers... Read More

David Mildenberg and Zachary R. Mider recently published an article M&T to Acquire Wilmington Trust for $351 Million on Bloomberg, Nov. 1, 2010. Wilmington Trust, the 107-year-old bank that financed companies during the Great Depression, ... Read More

The ABA Section of Real Property, Trust & Estate Law is sponsoring a 90-minute teleconference and live audio webcast entitled Ethical Issues in Estate Planning for Pet Owners on November 9. The program information is below: The program will fo... Read More

Ray D. Madoff (Professor of Law, Boston College Law School) recently published her article entitled What Leona Helmsley Can Teach Us About the Charitable Deduction, 85 Chi.-Kent. L. Rev. 957 (2010). The author's summary is below: Leona Helmsley named a... Read More

A Live Two-Hour Webinar from CCHThursday, November 4, 2010 - 1 PM Eastern; Noon Central; 11 AM Mountain; 10 AM PacificRegister Today for Only $249 Per Site and Have an Unlimited Number of Users Participate!Failure to effectively liquidate an entity... Read More

A new article has been published Hard to Face Up to Estate Planning, Private Wealth, Nov. 4, 2010. Although it can be difficult for estate planning attorneys to create complex plans, sometimes the biggest challenge is helping clients get... Read More

Evalynn J. Saeyang published an article recently Robert Reldan's Settlement: Killer Forfeits Millions to Susan Reeve's Family, Gather, Oct. 10, 2010.Robert Reldan, now 70 years old, was convicted of murdering two women in the 1970s. While serving his l... Read More

Joshua C. Tate (Associate Professor of Law, SMU Dedman School of Law) recently published his article entitled Should Charitable Trust Enforcement Rights be Assignable?, 85 Chi.-Kent. L. Rev. 1045 (2010). A summary is below:In recent years, scholars hav... Read More

Diane Freda recently published an article CPAs Blitz IRS with Letters for Relief from Proposed Tax Preparer Rules on BNA Software on November 3, 2010. The Internal Revenue Service Nov. 2 released a raft of comment letters it received from... Read More

A new article is published Medicaid Agency May Include Guardianship Expenses in Determining Eligibility, ElderLawAnswers, Oct. 4, 2010.After Deanna W. was found to be an incapacitated person, the court appointed a guardian of her estate, directing the ... Read More

Carter G. Bishop (Professor of Law, Suffolk University Law School) recently published his article entitled Forgotten Trust: A Check-the-Box Achilles' Heel, 43 Suffolk Univ. L. Rev. 529 (2010). The abstract available on SSRN is below:The 1997 check-the-... Read More

Julius Giarmarco published a new article How to Handle Carryover Basis in 2010 on Producersweb.com, Oct. 7, 2010. Under the 2010 carryover basis rules, property passing from a decedent may be stepped up by an aggregate of $1.3 million and... Read More

Jerry Cooper published a new article Trust Firm Pulls in $70 Million with "Directed Trusts Made Simple" Campaign, The Trust Advisor Blog, Oct. 7, 2010.The report, Directed Trust Made Simple, which is distributed exclusively by email, pulled in $70 mill... Read More

JACKIE CALMES published a new article Panel Weigns Deep Cuts in Tax Breaks and Spending on New York Times on November 10, 2010. The chairman of Obama's bipartisan commission on reducing the national debt outlined a politically provocative and economica... Read More

In Dolby v. Dolby, 694 S.E.2d 635 (Va. 2010), the decedent and his wife owned their home as tenants by the entireties. At his death, the decedent was the sole obligor on the promissory note securing the mortgage on the... Read More

John Schwartz, Gay Couples to Sue Over U.S. Marriage Law, N.Y. Times, Nov. 8, 2010.In an attempt to save the couple hundreds of dollars a month, Ms. Pederson tried to enroll her spouse in her federal health insurance but... Read More

The National Business Institute is sponsoring a 90-minute national teleconference entitled Estate Planning for Vacation Homes on December 7. The program description is below:Vacation home estate planning is no longer just for the wealthiest of your cli... Read More

Laura Saunders published a new article New IRS Rules for Investors, W.S.J., Oct. 23, 2010. Short of an audit, the IRS has no way to know whether taxpayers calculated gains and losses on investment sales correctly, which prompted Congress to... Read More

Stacy K. Mullaney (Trust Counsel, Boston, MA) recently published her article entitled Complex Securities Laws and the Eligibility of Trusts to Make Alternative Investments, 24 Prob. & Prop. 38 (Nov./Dec. 2010). The introduction is below:With the ad... Read More

Carrie Coolidge published an article Alleged Swindler Scammed Out of $800,000 by New York City Limo Driver, Luxist, Nov. 15, 2010.A New York City limo driver allegedly made almost $800,000 in fraudulent charges on the credit card of celebrity feng... Read More

Kristine S. Knaplund (Professor of Law, Pepperdine University School of Law) recently published her article entitled Charity for the "Death Tax": The Impact of Legislation on Charitable Bequests, 45 Gonzaga L. Rev. 713 (2010).  Alyssa DiRusso, a c... Read More

The American College of Trust and Estate Counsel's Legal Education Committee is organizing the fourth in a series of academic symposia financially supported by the ACTEC Foundation. The next symposium, The Uniform Probate Code: Remaking of American Suc... Read More

In 2003, Indiana abrogated the stranger to the adoption rule as to trusts and to include as beneficiaries persons adopted before age 21 and before the settlor's death. The statute also contains a provision which makes its rules applicable to... Read More

Joseph P. McMenamin (attorney, Richmond, VA), Dana G. Fitzsimons Jr. (attorney, Richmond, VA), and Adam M. Damerow (attorney, Chicago, IL) recently published their article entitled The Attack Incapacity Suit--A Self-Fulfilling Prophecy?, 24 Prob. &... Read More

Paul Sullivan, Planning for Income and Estate Taxes in an Uncertain Time, N.Y. Times, Nov. 12, 2010. Leiha Macauley, an attorney in Boston, has a client who died in May, leaving his $20 million estate to his 93-year-old widow through... Read More

In its opinion in Schilling v. Schilling, 695 S.E.2d 181 (Va. 2010), the Virginia Supreme Court reiterated the usual rule that validity of a will is governed by the statutes in effect when a testator dies. The court therefore reversed... Read More

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Bernie Wilson recently published a new article Attorney: Minority Stake of Chargers for Sale for Estate-Planning Purposes, The Canadian Press, Nov. 16, 2010.Drayton McLane selling the Astros for estate planning reasons. Now Alex Spanos, minority owner ... Read More

Steven Merkel recently published a new article Estate Planning: 16 Things to do Before You Die, Investopedia, Nov. 2, 2010.If you've procrastinated on your estate planning, the following 16-item list will get you going in the right direction1. Take inv... Read More

Joe Luby recently published a new article Qualified Disclaimers in 2010, Trusts & Estates, Oct. 20, 2010.Among the many concerns surrounding the estate, gift, and GST tax uncertainty, some people fear that Congress will enact retroactive ... Read More

Yahoo! Finance has a handy tool for state income and estate tax planning. Users can easily view each state's income, sales, property, estate, and other tax laws. Click here to access the tool.Hat tip: Wills, Trust & Estates Prof Blog... Read More

The National Business Institute is sponsoring a 90-minute national live video webcast on December 15 entitled Grantor Trusts in a Nutshell. The program description is below: Take your estate planning mastery a step beyond simple living trusts: explore ... Read More

In Pollard v. Pollard, 316 S.W.3d 238 (Tex. App.--Dallas 2010, no pet. h.),Husband obtained an order from the trial court to require Wife's independent executor to account under Probate Code § 149A. The executor had resisted Husband's request argu... Read More

In In re Estate of Hendler, 316 S.W.3d 703 (Tex. App.--Dallas 2010, no pet. h.), Testator executed a valid will in 1990 leaving his entire estate to Brother.  Thereafter, Testator had two children.  In 1999, he signed a holographic... Read More

Kelly Phillips Erb recently published a new article Nine Tips for Tax-Smart Charitable Giving on Frobes.com on December 2, 2010. Making a gift does more than put many in the holiday spirit: Making a donation to a qualified charitable organization... Read More

Marc Lacey published a new article Arizona Cuts Financing for Transplant Patients, N.Y. Times, Dec. 2, 2010.Beginning in October, Arizona ceased financing certain transplant operations under its version of Medicaid. Among the discontinued procedures ar... Read More

Scott Martin published a new article Wilmington's Wealthy Clients Rattled as Loan Loss Scandal Unfolds on The Trust Advisor Blog, December 4, 2010. While shareholders complain that merging with M&T destroys the legendary trust bank's reputation, th... Read More

A new article is published recently New Oklahoma Law Puts Control of Deceased's Social Media Accounts in Estate Executors, International Business Times, Dec. 2, 2010. Oklahoma recently passed House Bill 2800, a law giving executors or administrators th... Read More

Industry Reacts to Tax DealLife insurance agent trade groups had a guarded reaction to the proposed compromise tax cut unveiled by President Barack Obama late Monday. How The Tax Compromise Might Affect Estate PlanningAs part of the tax cut deal... Read More

L'Oreal Heiress Bettencourt and Daughter 'End Feud' was recently published on BBC News, Dec. 6, 2010.Liliane Bettencourt and her feuds with her daughter, Francoise Meyers-Bettencourt. Francoise tried to have Liliane declared incompetent, and Liliane ac... Read More

Ann Louise Bardach published a new article New Clue in Chasen Murder, Sexy Beast, Dec. 6, 2010.Ronni Chasen's brother thought that Ronni's 2006 will was in her safe deposit box. Late last week, Larry opened her safe deposit box to... Read More

On Thursday, Senate Majority Leader Harry Reid introduced legislation for the Obama deal titled as the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010." The relevant portion of the summary of the bill, which has sever... Read More

John D. McKinnon and Laura Saunders published a new article Estate-Tax Passage is Likely, W.S.J., Dec. 9, 2010.the House Democrats rejected the Obama deal on December 9 in a non-binding vote. Some think that the estate tax reform under the... Read More

On Friday, Senator Sanders (I-VT) launched a filibuster in which he discusses the many reasons why he believes the estate tax proposal in the Obama deal is "a horrendous proposal." The description of the 8.5-hour speech from Senator Sanders'... Read More

Wright Bryan recently published a new article How We Got From Estate Tax to "Death Tax" on December 13, 2010 at NPR. President Teddy Roosevelt got the estate tax in its current form through Congress in 1916, just three years... Read More

Kathleen Pender recently published a new article Loss of Estate Tax Leaves Hole in State Budget on December 14, 2010, San Francisco Chronicle. The proposed tax deal in Congress would fail to deliver about $2.7 billion in estate tax revenues... Read More

Tom Cohen, Estate Tax Emerges as Key Democratic Beef in Obama's Compromise, CNN, Dec. 12, 2010.Despite last week's threat by House Democrats to prevent Obama's tax compromise from reaching the floor, House Democrats will allow a vote on the bill.... Read More

Although congressional aides said their Democratic leaders like much of the proposed package, they still weren't sure they could sell it to their members Tuesday. Among their objections: extending the tax cuts for incomes of more than $250,000 a year... Read More

Today, December 15, 2010, the United States Senate approved the tax plan worked out between President Obama and Republican leaders by an overwhelming vote of 81 to 19. The bill now goes to the House where it is expected to... Read More

Jonathan Allen, House Dems Focusing on an Amendment to the Estate Tax Provision, Politico, Dec. 13, 2010.House Democrats are currently focusing on an amendment to the estate tax provision of President Obama's tax deal. The House estate tax proposal, wh... Read More

Holland & Knight issued its December 15, 2010 business and tax alert issue. On December 6, 2010, President Obama announced an agreement with Senate Republicans that would extend for two years the Bush-era tax rates - including the 15 percent... Read More

Janet Novack recently published a new article Under Obama Tax Deal, 2011 Could be Best Year for the Rich, Forbes, Dec. 12, 2010.Although there were no estate taxes in 2010, 2011 might be an even better year for wealthy families... Read More

Deborah L. Jacobs published a new article Congress' Gift to Billionaire Heirs and Those Who Envy Them, Forbes, Dec. 17, 2010. Under the new tax bill, less than .5% of people who die in 2011 will owe estate taxes. But... Read More

The National Business Institute is sponsoring a 90-minute national teleconference on December 20 entitled Estate Planning Basics. The program information is below:Do you have the skills to ensure your clients are well taken care of in case of incapacit... Read More

Madoff Trustee Makes it Halfway with $7.2 Billion Deal, Financial Advisor, Dec. 17, 2010. As of September 30, Irving Picard, the trustee liquidating Bernard Madoff's failed investment firm, approved 2,232 investor claims for recovery. He rejected 11,17... Read More

John Dedon recently published a new article called Congress delivers an estate-planning present to business owners on Virginia Business. When the president signed into law a two-year extension of the Bush Tax cuts, most Americans were focused on the in... Read More

A new article GRATs Dodge Regulatory Bullet is published on Financial Advisor Magazine on December 20, 2010. A popular kind of trust that lets people pass money to family members free of federal gift tax is likely to get... Read More

A new court decision on trust account is released in California Araiza v. Younkin, 116 Cal. Rptr. 3d 315 (Cal. Ct. App. 2010). The decedent created a trust account naming his step-daughter as the beneficiary. The decedent later created an... Read More

Reinout M. Wibier (Professor of Law, Tilburg University) recently published his article entitled Can a Modern Legal System do Without the Trust?, Tilburg Law School Research Paper No. 025/2010 (Sept. 2010). The abstract is below:This article will argue... Read More

Tracy Morgan Kidney Transplant: '30 Rock' Star Recovering from Surgery, The Huffington Post, Dec. 20, 2010.Tracy Morgan, star of NBC's "30 Rock," was diagnosed with diabetes in 1996, but didn't take it seriously until he got very sick years later.... Read More

Robert Pear, Obama Returns to End-of-Life Plan That Caused Stir, N.Y. Times, Dec. 25, 2010.When a political storm arose over "death panels," Democrats dropped the proposal to encourage end-of-life planning from the health care legislation. Starting Jan... Read More

Alexander A. Bove, Jr. (attorney, Boston, MA) recently published his article entitled Using the Power of Appointment to Protect Assets--More Power than You Ever Imagined, 36 ACTEC L.J. 333 (Fall 2010).  The introduction is below:   Of al... Read More

Carolyn B. R. Decker published in the October issue of the Agent's Sales Journal and was re-printed here with the author's permission.The most common reasons someone with a net worth of $100 million purchases life insurance are liquidity, wealth transf... Read More

Vic Preisser, published a new article The Children of the Wealthy Fire Their Parents' Advisors--Most of the Time, Registered Rep, Nov. 1, 2010.A recent study showed that the heirs of wealthy people retain mom and dad's advisors only 10% of... Read More

According to Anne R. Carey & Veronica Salazar, Americans with wills by age, USA Today, Dec. 22, 2010, at A1, the odds of a person having a will increase significantly with age. Here are the statistics they reported:  Age 18-34... Read More

David Herzig (Valparaiso) has published Am I the Only Person Paying Taxes? The Largest Tax Loophole for the Rich -- Exchange Funds, 2009 Mich. St. L. Rev. 503.  Here is the abstract: President Obama is faced with a national debt... Read More

Kevin Noble Maillard (Assistant Professor of Law, Syracuse University College of Law ) recently published his article entitled The Color of Testamentary Freedom, 62 SMU L. Rev. 1783 (2009). The abstract available on SSRN is below:Wills that priori... Read More

Deborah L. Jacobs, New Estate Tax Law Could Hurt Charity, Forbes, Dec. 28, 2010. The economic crisis has caused many people to reduce current charitable giving, and the new tax law will probably cause many people to reduce future bequests... Read More

Scott Martin, Obamacare to Send Seniors to Estate Planners Before Visiting Their Doctor, The Trust Advisor Blog, Jan. 1, 2011. Starting on January 1, physicians can now bill Medicare for time they spend discussing end-of-life healthcare preferences wit... Read More

Roberton Williams recently published a new article on January 11, 2011 PAYGO in the House: What it Means and Won't Mean at Christian Science Monitor. In one of their first actions after taking control of the House of Representatives last... Read More

Ken Kurson published a new article Should You Have a Will?, Bankrate.com, Oct. 4, 2010. The primary purpose of a will is to guarantee that your assets are distributed according to your wishes. Even if you don't have money now,... Read More

Paul Sullivan published a new article A Child's Legacy is More than Money, N.Y. Times, Nov. 4, 2010.Paul Sullivan, a New York Times personal finance author, recently wrote about what he wants to pass on to his daughter. He... Read More

The National Business Institute is sponsoring a 90-minute teleconference on January 18 entitled Using Gifting Strategies in Medicaid Planning. The program description is below:Gifting remains one of the essential Medicaid planning tools, despite the re... Read More

The National Business Institute is sponsoring a 90-minute teleconference entitled Single-Member LLCs in Asset Protection: How the Olmstead Decision has Changed the Practice on January 26. The program description is below: Get an incisive analysis of th... Read More

A client decided to change her will. She met with her lawyer, gave him handwritten notes of her intended dispositions, and he produced a draft. The client left the office without seeing the draft and died within the hour. The... Read More

Paul Sullivan, Exploring Trusts for the Disabled, N.Y. Times, Nov. 5, 2010. One type of planning vehicle that avoided contentious debate in all the recent discussions about taxes and estate planning techniques is the special-needs trust. These trusts a... Read More

Last week, in Mayo Foundation for Medical Education Research v. United States, the United States Supreme Court ruled unanimously that medical residents are employees, not students, for purposes of Federal Insurance Contributions Act (FICA) taxes. Educa... Read More

Mama Jackson's Partner: MJ Estate is a Dictatorship!, TMZ, Jan. 20, 2011. Michael Jackson Estate suing Katherine Jackson's business partner, Howard Mann. Mann thinks that the lawsuit is unfounded and malicious. He also thinks that the estate is a "frau... Read More

For an individual holding an interest in a business or investment entity taxed as a partnership, a charitable transfer can create an attractive planning opportunity while providing welcome support to a favored charity.  In this article, North Caro... Read More

Donald H. Kelley recently published a new article on "Wealth Transfer Planning," (WTP), version 5.3.3, is a sophisticated automated drafting system for estate planning documents, created by Jonathan G. Blattmachr and Michael L. Graham. It's a part of I... Read More

David Cay Johnston's article about the new tax law appears in today's Wealth special section. Below in New York Times, his answers to questions submitted by readers. Normal 0 false false false EN-US ZH-CN X-NONE /* Style Definitions */ table.MsoNormalT... Read More

Donald H. Kelley recently published "Wealth Transfer Planning" (WTP) on February 9, 2011, version 5.3.3, is a sophisticated automated drafting system for estate planning documents, created by Jonathan G. Blattmachr and Michael L. Graham. It's a part of... Read More

Credit Suisse Banker Said to Be Held in Offshore Inquiry written By LYNNLEY BROWNING (NYT) Christos Bagios, a senior private banker, was said to have been arrested in connection with a federal investigation into the bank's work with questionable offsho... Read More

Michael Jackson's Estate Earns $310 Million Since His Death, CBSNews, Feb. 18, 2011. When Michael Jackson died on June 25, 2009, he had over $400 million in debt. The estate has since recovered much of that debt and negotiated deals... Read More

Robert Frank wrote a new article The Downside of Control-Freak Philanthropy February 24, 2011 Wall Street Journal. Venture philanthropy has been heralded as a much-needed revolution in the business of giving. Gone are the days of rich people writing ch... Read More

Howard Gleckman recently published a new article How Congress Could Upend The Mortgage Deduction. Don't grab a pitchfork--under the most likely reform scenarios, typical middle-income households could actually end up paying lower taxes. Normal 0 false ... Read More

Michael D. Bonasera recently published an article One of the top 3 estate planning mistakes - in both frequency and severity -  is families not planning after second marriages. These mistakes are so bad because there usually has not been... Read More

Kimberly Egan, a partner in DLA Piper's Washington office, created a list of skills possessed by the most successful lawyers. Here are a few she includes in an article for the National Law Journal:Associates hoping to become successful lawyers shouldn'... Read More

DEBORAH SONTAG recently published an article at New York Times on March 3, 2011. When Jerome Ndayishimiye entered the overheated room at the nursing home where his 58-year-old mother lay under a tightly tucked blanket, he quickly closed the curtains... Read More