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Results: 11-20 of 142

Petition No. M090929A, NYS Dep’t of Taxation & Finance Advisory Opinion, TSB-A-10(1)(M)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • June 7 2010

In this Advisory Opinion, New York State determined that a non-resident decedent's interest in a revocable trust that owned interests in several limited liability companies ("LLCs") that held New York real property was not subject to New York State estate tax

U.S. government sues estate and donees of J. Howard Marshall II for unpaid gift taxes

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 5 2010

The U.S. government is suing the estate and donees of J. Howard Marshall for a combined $85 million of unpaid gift and GST taxes

Tax Court applies 25 percent lack of marketability discount to valuation of interest in limited partnership holding timber property, but finds that lack of control discount is already implicit in valuation methodology applied to property Estate of Giust

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • August 5 2011

At issue in Giustina was the valuation of a minority interest in a limited partnership that owned approximately 48,000 acres of timber property

Nevada passes restrictive “charging order” legislation to increase asset protection afforded by business entities Nevada SB 405 (June 16, 2011)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • August 5 2011

Nevada Senate Bill 405, which was signed into law by the Governor on June 16, provides that a “charging order” is the exclusive remedy of a judgment creditor against interests in Nevada limited liability companies, limited partnerships and corporations

New York expands EPTL 10-6.6 to further liberalize trust "decanting"

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • September 14 2011

On August, 17, 2011, New York Governor Andrew Cuomo signed into law Bill A8297 which expands the State's decanting statute (Estates, Powers and Trust Law 10-6.6

Towbin v. Towbin, 36 Misc. 3d 1236(a) (N.Y. Sup., August 22, 2012)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 7 2012

A New York court ruled that a transfer to a grantor retained interest trust ("GRIT") was not a completed gift, since title on the underlying property was never formally transferred

Rush University Medical Center v. Sessions, 2012 IL 112906 (09202012)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 7 2012

In Rush, an estate tried to enforce a self-settled spendthrift trust without a state statute protecting it

Personal planning strategies

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • December 3 2014

As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent: (1) the reunification of the estate and

We didn't (quite) fall off the cliff, but we still have to clean up the mess!

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • January 8 2013

When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working with clients to

Estate of Giovacchini v. Commissioner, T.C. Memo 2013-27

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • March 8 2013

The Tax Court redetermined values for estate and gift tax purposes of a large parcel of more than 2,500 acres of land near Lake Tahoe, California