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Results:1-7 of 7

Supreme Court finds hedging process ineligible for patent
  • Sullivan & Worcester LLP
  • USA
  • August 1 2010

In Bilski v. Kappos, 561 U.S. ___ (2010), the U.S. Supreme Court ruled that a hedging process developed for buyers and sellers of commodities in the energy market wasn't eligible for a patent.


Internal Revenue Service ignores trust amendment designed to create designated beneficiary
  • Sullivan & Worcester LLP
  • USA
  • August 1 2010

Private Letter Ruling 201021038 (May 28, 2010) shows the importance of careful drafting for a trust designated as the beneficiary of a retirement plan.


Strict privity requirement relaxed in New York: personal representative of estate may sue estate-planning attorney for negligence
  • Sullivan & Worcester LLP
  • USA
  • August 1 2010

In Estate of Schneider v. Finmann, 2010 NY Slip Op. 05281 (June 17, 2010), the Court of Appeals of New York relaxed its doctrine of strict privity, which holds that neither an estate nor its beneficiaries may maintain an action for malpractice against an attorney who advised a decedent regarding his estate plan.


U.S. stock owned by British citizen residing in Belgium included in taxable estate, but penalties abated
  • Sullivan & Worcester LLP
  • USA, Belgium
  • August 1 2010

In an interesting case before the U.S. Court of Appeals for the First Circuit, the estate of Noordin Charania appealed the IRS' determination that all of Noordin's Citigroup stock was includible in his estate and the IRS' refusal to abate an additional penalty assessed during audit.


Tax law update
  • Sullivan & Worcester LLP
  • USA
  • June 1 2010

On March 24, the House passed H.R. 4849, the Small Business and Infrastructure Jobs Tax Act of 2010, which includes an amendment to Internal Revenue Code Section 2702 imposing a minimum term of 10 years for grantor retained annuity trusts (GRATs).



David A. Handler
  • Sullivan & Worcester LLP