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Results: 11-20 of 143

Estate of Nancy P. Young v. United States (D. Mass., No. 1:11-cv-11829-RWZ, 121712)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • February 12 2013

In Estate of Nancy P. Young v. United States, the District Court upheld a latefiling penalty against an estate whose accountants advised it to file

New York significantly changes its estate tax no decrease in estate tax for the wealthy

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

The New York State legislature has passed, and New York Governor Andrew M. Cuomo has signed, the Executive Budget for 2014-2015, which significantly

Favorable "DING trust" rulings PLRs 201310002 201310006

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • May 1 2013

In five related rulings, the IRS issued favorable holdings addressing the income and gift tax consequences of so-called "DING trusts." The acronym

Estate of Thouron v. United States, E.D. Pa., no. 2:11-CS-04058 (11082012)

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

The U.S. District Court for the District of Pennsylvania held that relying on the advice of a tax attorney was not reasonable cause for the late payment of estate taxes

Wealth management update

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 11 2014

The November Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.2, unchanged from October. The

Hastings v. PNC Bank NA, Md. No. 109 (09272012)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 15 2012

The Maryland Court of Appeals holds for PNC in a suit by the beneficiaries of a testamentary trust created under the will of a Maryland resident where the beneficiaries claimed that PNC breached its fiduciary duty in requiring them to sign a release agreement arguably too favorable to PNC before distributing assets to them

Keller v. United States, 5th Cir., No. 10-41311 (092512)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 15 2012

In Keller, the Fifth Circuit Court of Appeals ruled that an estate was entitled to an estate tax refund for the discounted value of a family limited partnership ("FLP") that was created during the decedent's lifetime but not fully funded until after the decedent's death

Wealth management update

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • March 13 2014

The March 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.2, which is a 0.2 decrease from last

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