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Results: 1-10 of 82

Estate planning update
  • Day Pitney LLP
  • USA
  • July 16 2013

Because of the uncertainty over the future of the federal estate, gift and generation-skipping transfer (GST) tax exemptions through the end of last


Disclosure of foreign accounts and assets
  • Day Pitney LLP
  • USA
  • July 30 2014

U.S. persons are allowed to maintain financial accounts anywhere in the world, but they must pay tax on all income and also file special reports


New York tax law changes
  • Day Pitney LLP
  • USA
  • July 30 2014

On March 31, 2014, New York state enacted several significant changes to its laws concerning estate, gift and fiduciary income taxes. The following


Who says TV doesn't teach you anything? Five estate planning lessons learned from Downton Abbey
  • Day Pitney LLP
  • USA
  • May 30 2013

In the first episode of the PBS hit television series Downton Abbey, the Titanic sank somewhere in the North Atlantic Ocean, and with it sank the


New U.S. tax on persons giving up U.S. citizenship or green card
  • Day Pitney LLP
  • USA
  • July 9 2008

The U.S. has enacted two new taxes that affect U.S. citizens who renounce their citizenship, and holders of a permanent residence visa (“green card”) who renounce it


Updated SEC guidance on the family office exclusion
  • Day Pitney LLP
  • USA
  • March 2 2012

Family offices are entities established by wealthy families to manage their wealth, plan for their families' financial future, engage in investment opportunities and provide other services to family members


Harootian v. Douvadjian
  • Day Pitney LLP
  • USA
  • October 6 2011

In Harootian v. Douvadjian, Case No. 10-P-1798 (Oct. 4, 2011), the Appeals Court addressed the question of whether certain distributions of principal from a trustee to herself, as the lifetime beneficiary of the trust, were in breach of her fiduciary duties to the remainder beneficiaries


Top 8 estate tax savings techniques for the current increased gift and GST tax exemptions and low-interest rate environment
  • Day Pitney LLP
  • USA
  • December 7 2011

If you live in Massachusetts or own Massachusetts real estate and the total value of your (and your spouse's) assets is at least $1 million (the Massachusetts estate tax exemption amount), you may want to utilize one or more of the estate tax savings techniques summarized below, in order to save estate taxes for your estate, your spouse's estate and even potentially for your children's future estates


IRS announces reopening of offshore disclosure program
  • Day Pitney LLP
  • USA
  • January 10 2012

Yesterday, January 9, the Internal Revenue Service announced it is reopening its Offshore Voluntary Disclosure Program (OVDP), designed to allow U.S. taxpayers with unreported offshore income and assets to come into compliance with their tax obligations


Potential reduction in federal gift, estate and generation-skipping transfer tax exemptions
  • Day Pitney LLP
  • USA
  • November 11 2011

Rumors are circulating that the Joint Select Committee on Deficit Reduction (the "Super Committee") -- cut $1.2 trillion from the federal deficit over the coming decade -- will recommend a reduction in the federal gift, estate and generation-skipping transfer ("GST") tax exemptions when it releases its recommendations on November 23, 2011