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Results: 11-20 of 147

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


Delaware Supreme Court offers guidance on when Delaware law applies to a trust originally subject to another state's law
  • Proskauer Rose LLP
  • USA
  • December 12 2013

In a series of three opinions, all relating to trusts created for the benefit of members of the Peierls Family, the Delaware Supreme Court has


Wealth management update
  • Proskauer Rose LLP
  • USA
  • December 1 2014

The December Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0, down 0.2 from November. The


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


June interest rates decrease slightly for GRATs, split interest charitable trusts, sales to defective grantor trusts and intra-family loans
  • Proskauer Rose LLP
  • USA
  • June 7 2010

The June applicable federal rate ("AFR") for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 3.2, slightly lower than the March rate


Adams v. Comm’r, T.C. Memo 2010-72 (April 13, 2010).
  • Proskauer Rose LLP
  • USA
  • June 7 2010

In this case, the Tax Court held that a beneficiary was permitted to claim a mortgage interest deduction for trust property


Estate of Schneider v. Finmann, 2009 NY Slip Op 2319 (App. Div. Mar. 24, 2009) (appeal pending before Court of Appeals)
  • Proskauer Rose LLP
  • USA
  • June 7 2010

This case was argued before the Court of Appeals on May 4, 2010, and has not yet been decided by the Court


Ludwick v. Comm’r, T.C. Memo. 2010-104 (May 10, 2010)
  • Proskauer Rose LLP
  • USA
  • June 7 2010

In this case, the Tax Court held that a contribution of a tenancy-in-common interest in a personal residence to a qualified personal residence trust was entitled to a 17 marketability discount from its full fair market value


Wealth management update
  • Proskauer Rose LLP
  • USA
  • June 18 2010

Yesterday, the New York Court of Appeals issued a decision in Estate of Schneider v. Finmann (citation pending), a case involving the applicability of New York's strict privity defense in an estate planning malpractice claim that was previously discussed in our Wealth Management Update Newsletter (June 2010


Spendthrift provision of trust not invalidated despite control by beneficiary
  • Proskauer Rose LLP
  • USA
  • July 1 2010

In Miller v. Kresser, --- So.3d ---, 2010 WL 1779899 (Fla. 4th DCA May 5, 2010), the Florida Court of Appeal, Fourth District, ruled that a creditor cannot invalidate a trust's spendthrift provision to reach the trust assets so long as the language of the trust agreement meets statutory requirements