by Christine | Dec 22, 2014 | Asset Protection, Conservatorships, Estate Planning, Estate Tax, Estates, Guardianships, Living Trust, Probate, Tax Planning, Taxation, Taxes, Trusts, Wills |
State and federal estate and inheritance tax rates are what drive most people’s estate plans, but now that tax rates are falling and exemptions rising in many jurisdictions, how much people will leave their heirs isn’t what keeps them awake at night anymore. What they...
by Christine | Dec 5, 2014 | Asset Protection, Conservatorships, Cost Basis, Estate Planning, Estates, GRATs, Guardianships, Inheritance, Living Trust, Power of Attorney, Probate, Tax Planning, Taxation, Trust Taxation, Trusts, Wills |
“Income-tax rates are going up so it becomes more expensive for a grantor to maintain the grantor trust status of a trust they’ve set up,” says Lynn Halpern Lederman, managing director and senior fiduciary counsel – Northeast Region at Bessemer Trust, a New York firm...
by Christine | Jun 17, 2014 | Capital Gains, Estate Planning, Inheritance, Stock, Taxation |
If you sell stock you inherited, the tax bill is keyed to its value at the time of the original owner’s death. If you’ve just inherited stock or if you’re set to leave behind stock to your heirs, then it is well worth your time to get an idea of the tax treatment you...
by Christine | Oct 17, 2013 | Art, Estate Law, IRS, Taxation, Valuation |
Whenever a U.S. taxpayer dies or gives away valuable art—or any time it changes hands other than through a sale—Uncle Sam has an interest in knowing its true value. The art panel protects that interest, by vetting values submitted by taxpayers or executors; in...
by Christine | Oct 4, 2013 | Estate Planning, Estate Valuation, Taxation |
Documents recently released in litigation between the estate of pop star Michael Jackson and the IRS showed that a large part of the dispute revolves around the value of Jackson’s image and likeness. While the estate assessed the value of his image at $2,105,...
