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Results: 1-10 of 34

Nassau Surrogate's Court issues opinion on decanting under New York EPTL 10-6.6

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

With In Re Kroll, 971 N.Y.S.2d 863, the Nassau Surrogate Court has issued what may be the first opinion dealing with the amended decanting statute

The Tax Court holds, in a summary judgment ruling, that the Beneficiaries of gifts who are obligated to pay any potential estate tax liability arising from the gifts may decrease the value of the gift by the actuarial value of that obligation

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

In Steinberg v. Commissioner, 141 T.C. No. 8 (September 30, 2013), a mother (the "Parent") gave cash and securities to her daughters (the

Knappe v. U.S., 111 AFTR-2d 2013-1531 (9th Cir.)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • June 3 2013

The executor relied on the advice of his accountant that the time period for both extending the time to file an estate tax return as well as the time

U.S. v. Blake, E.D.N.Y, No. 12-cv-02577

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • June 3 2013

The U.S. District Court for the Eastern District of New York abstained from jurisdiction in a claim by the government to collect estate taxes because

Estate of Kite v. Commissioner, T.C. Memo 2013-43

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

The Tax Court held that a surviving spouse's sale of substantial entity interests to trusts for her children in exchange for a 10-year deferred

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

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

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

Estate of Bates v. Commissioner, T.C. Memo. 2012-314, November 7, 2012

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

The Tax Court ruled that the cost of settlement could not be deducted as an administrative expense on an estate tax return, because the claim was for a beneficiary's distributive share and not for a creditor's claim against the estate

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