Wealth Strategies Journal

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Same-Sex Marriages and the ECOA Under Florida Law

The Equal Credit Opportunity Act (ECOA) prohibits creditors from discrimination based on marital status, race, national origin, religion, sex, or age.  Since marriage licenses have been issued to same-sex couples in Florida since January 6, 2015, one might question whether the protections of the ECOA will have any effect on those married … Continue reading

Taxpayer Fails to Prove Nonresidency When Being Evasive at Court’s Examination

Pennsylvania court found that a taxpayer failed to prove his nonresidency in the commonwealth as he could not make his case clear at examination. In Lust v. Commonwealth, the taxpayer argued that he was not a resident of Pennsylvania and filed a tax return accordingly for 2005. The court tried … Continue reading

Robert L. Moshman: The Estate Analyst-The Year in Review: Voices of 2014

By Robert L. Moshman

December 2014

Goodbye, 2014! Be off with you and your Ebola, ISIS, Boko Haram kidnappings, Malasian airline crashes, and rocket/tunnel warfare in Gaza. In fact, help yourself to as many Kardashians as you like and then hit the road. Here’s to a Kimye-free 2015.

Before closing … Continue reading

Richard L. Harris: It’s All About Income Tax

It’s All About Income Tax
Private placement life insurance may provide many advantages for your clients

by Richard L. Harris

Advisors build relationships with their clients by showing that they care. Bringing an idea to the client, whether the client decides to use it or not, is one way of … Continue reading

IRS Tips Individuals about Tax Return as to Exemptions and Dependents

The Internal Revenue Service (IRS) released its latest tips on tax return for individuals. This issue involves ten tax facts about exemptions and dependents, with regard to e-file, personal exemptions and exemptions for a dependent, health-care coverage report, disqualified persons and special situations that dependents need to file.

See IRS … Continue reading

Nursing Homes File Guardianship Petition To Collect Debts From Patients

An increasing number of guardianship petitions are being filed by nursing homes over their elderly occupants, studies show. According to a review of court data by Hunter College, out of seven hundred guardianship petitions filed in Manhattan for a decade, twelve percent of them were filed by nursing homes, and … Continue reading

Should You Send a Posthumous Email?

A short blurb in The Guardian muses about the possibility (and practicality) of sending a posthumous email as a way to notify friends and relatives of one’s death. While an unusual idea, the suggestion perhaps would be useful for more distant relatives and acquaintances. What do you think about this suggestion?

Posted by Elizabeth Continue reading

Bankruptcy Court Holds Debtor’s Wife’s Revocable Trust Are Not Asset of Bankruptcy Estate

Nathan Reuter and his wife established revocable trusts as Mr. and Mrs. Reuters being trustee and beneficiary of both trusts. The bankruptcy trustee sought to cause Mrs. Reuter’s trust to be included in Mr. Reuter’s bankruptcy estate.

The U.S. Bankruptcy Court ruled that the assets of the wife were not … Continue reading

49th Annual Heckerling Institute on Estate Planning (Jan 13th)

The following are summaries of the presentations from the 49th Annual Heckerling Institute on Estate Planning. For the official brochure and list of events, see  http://www.law.miami.edu/heckerling/pdf/2014/heckerling-brochure.pdf. For the full Heckerling reports, see http://www.americanbar.org/groups/real_property_trust_estate/events_cle/heckerling_reports.html.


Diana Zeydel on the New Portability Regime

The presentation began with Zeydel assuring attendees that despite … Continue reading

49th Annual Heckerling Institute on Estate Planning (Jan 14th)

The following are summaries of the presentations from the 49th Annual Heckerling Institute on Estate Planning. For the official brochure and list of events, see  http://www.law.miami.edu/heckerling/pdf/2014/heckerling-brochure.pdf. For the Heckerling reports, see http://www.americanbar.org/groups/real_property_trust_estate/events_cle/heckerling_reports.html.


M. Read Moore on Tax Administration and Procedural Rules for Estate Planners

Moore’s presentation focused on the … Continue reading

Pro and Con (Law): Considering the Irrevocable Nongrantor Trust Technique

  • Are INGs rightfully the next big thing? Professor Schoenblum presents an artful argument as to why an ING—an incomplete non grantor trust sited in a state with favorable local tax laws—can produce significant income tax savings and should be defensible from a constitutional perspective.

For complete article visit – http://www.vanderbiltlawreview.org/Continue reading

Taxes on Household Employees

Household employees are paid under the table a lot, but the penalties that can come from this could be substantial. The IRS is cracking down in this area and people that have been paying their household employees under the table could face years of owed back taxes plus penalties and … Continue reading

Should You File a Tax Return for 2014?

Others are required to file a 2014 tax return. Under the tax rules, your income, filing status, and age determine if you need to file a tax return. A new Premium Tax Credit was added this year for those that bought health insurance from the Health Insurance Marketplace in 2014, … Continue reading

Preparing a Complete List of Passwords, Online Accounts, and Digital Property for Estate Planning

Keeping a secure list of passwords, online accounts and digital property makes it smooth for fiduciaries and family members to access your digital assets as well as bring down the cost of administration. One way of keeping the list is to handwrite one and keep it in a secure location … Continue reading

Family Arouses Controversy by Seeking Access to Dead Son’s Digital Data

In the age of social media, it is common for every person to accumulate abundant personal history in a form of digital data. If the person dies, such data usually disappear due to lack of access.

A Minnesota family recently gained a nationwide media attention as they sought to gain … Continue reading

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