Pursuant to Internal Revenue Code Section (“Code §”) 2801, if you are a “U.S. Beneficiary” - who is the recipient of a gift or bequest from, or a distribution from a trust established by, a former U.S. citizen or former Green...more
The recent volatility in the stock market, ongoing trade wars, and talks of further increases to the federal debt ceiling have intensified concerns in recent months around economic uncertainty and the risk of recession. ...more
5/9/2025
/ Beneficiaries ,
Budget Reconciliation ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
High Net-Worth ,
Interest Rates ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning ,
Trusts ,
Wealth Management
On March 25, 2021, Senator Bernie Sanders introduced legislation called “For the 99.5% Act.” This bill is aimed at the fortunes of the top 0.5% of wealthy Americans. ...more
3/26/2021
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
Grantor Retained Annuity Trusts (GRATs) ,
Grantor Trusts ,
High Net-Worth ,
Legislative Agendas ,
Proposed Legislation ,
Tax Planning ,
Tax Reform
In a previous post, we discussed the tax implications for U.S. beneficiaries who receive a distribution from a foreign trust. That discussion assumed that the trust in question was, in fact, a foreign trust for U.S. federal...more