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Results: 11-20 of 159

Wealth management update
  • Proskauer Rose LLP
  • USA
  • May 8 2015

The May 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.8, which is a slight decrease from April's rate


Disclaimer not qualified where disclaimed property passed to disclaimant by intestacy
  • Proskauer Rose LLP
  • USA
  • December 6 2010

In Estate of Tatum, Jr. v. U.S., 106 AFTR 2d 2010-6556 (S.D. Miss. 1062010), the Southern District of Mississippi held that a disclaimer was not qualified where the disclaimed property passed to the disclaimant by intestacy


Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010
  • Proskauer Rose LLP
  • USA
  • December 15 2010

On December 15, 2010, the Senate passed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Bill"


Hirchert Family Trust v. Johnee Ann Alle Hirchert (District Court of Appeal of Florida, Fifth District, June 17, 2011)
  • Proskauer Rose LLP
  • USA
  • September 14 2011

The District Court of Appeal of Florida upheld an exception to the Florida homestead exemption in a case where a trusteedeceased husband of the defendant breached his fiduciary duty as trustee in California, and the defendant later used the proceeds resulting from this breach to purchase real property in Florida


Nevada Governor signed into law S.B. 221 with an effective date of October 1, 2011, which makes Nevada’s asset protection trust laws even stronger S.B. 221, 76th Sess., Reg. Sess.
  • Proskauer Rose LLP
  • USA
  • July 5 2011

On June 4, 2011, Nevada Governor Brian Sandoval signed into law S.B. 221 with an effective date of October 1, 2011


Chief Counsel Advice Memorandum 201208026 (9282011)
  • Proskauer Rose LLP
  • USA
  • April 2 2012

In a recently released Memorandum, the IRS Office of Chief Counsel concludes that contributions made by Settlors to a discretionary trust for their descendants were taxable gifts, since (1) the Settlors had not retained any rights that would make the gifts incomplete and (2) the withdrawal powers granted to the beneficiaries were unenforceable in state court and thus illusory


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


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


Creating a "GRAT": heads you win, tails you break even
  • Proskauer Rose LLP
  • USA
  • September 1 2011

Creating a grantor retained annuity trust (commonly referred to as a "GRAT") is a relatively simple way to transfer property to your children at virtually no gift tax cost


Wealth Management Update - July 2016
  • Proskauer Rose LLP
  • USA
  • July 1 2016

The July 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.8, which has remained constant since March