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Trusts Income Taxes

Bowditch & Dewey

5 Reasons You Shouldn’t Wait to Make a Will

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August is National Make-A-Will Month, a timely reminder to create or update your will. Whether you’re establishing a career, raising a family, or accumulating assets, having a will in place ensures your loved ones are...more

Foley & Lardner LLP

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

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On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

Troutman Pepper Locke

Estate Planning in Uncertain Times

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"God, grant me the serenity to accept the things I cannot change, courage to change the things I can, and wisdom to know the difference."- The Serenity Prayer- The first 100 days of President Trump’s administration have been...more

Warner Norcross + Judd

The Powers and Perils of Intrafamily Loans

It is not uncommon for family members to lend a helping hand to one another through intrafamily loans. While loans can benefit family borrowers who may not qualify for a traditional loan or who need flexible payment...more

Rivkin Radler LLP

Terminating a Trust? Don’t Forget to Consider This Tax Issue

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Every conveyance of property or of an interest in property from one person to another is prompted, or at least influenced, by economic considerations. The parties to the transaction may swap properties, or one party may...more

Seward & Kissel LLP

House Tax Bill 2025

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On May 12, 2025, Republicans in the House of Representatives introduced the One, Big, Beautiful Bill of 2025 (the “House Bill”). The House Bill comes out of the House Ways and Means Committee after weeks of internal drafting...more

Chambliss, Bahner & Stophel, P.C.

Passing Retirement Benefits to a Child With Special Needs

Under the SECURE Act, disabled beneficiaries can stretch out inherited retirement account distributions beyond 10 years, provided their life expectancy is longer than the default 10-year rule. Generally, an Applicable...more

International Lawyers Network

Establishing a Business Entity in Mexico (Updated)

I. General Overview - As of April 2024, Mexico has a population of approximately 132.3 according million people to the Mexican National Population Counsil (Consejo Nacional de Población). Covers a land area of 1,964,375...more

Proskauer Rose LLP

Wealth Management Update - May 2025

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The May 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is the same as the April 2025 Section 7520 rate...more

Mandelbaum Barrett PC

The $5 Million Hush Money Payment in White Lotus Season 3

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The explosive finale of White Lotus Season 3 left fans with more than just plot twists—it raised fascinating legal and tax questions. Chief among them: what are the implications of Greg’s $5 million wire transfer to Belinda,...more

Proskauer Rose LLP

Wealth Management Update - April 2025

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The April 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is 0.40% less than the March 2025 rate. The April applicable federal rate (“AFR”) for use with a...more

International Lawyers Network

Buying and Selling Real Estate in England and Wales (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW - 1. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in...more

Allen Barron, Inc.

How Often to Review Your Trust and Estate Plan

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How often should you review your trust and estate plan? Is there a regular cycle to these reviews, or should they be driven by significant events in your life or the lives of your beneficiaries and executor or trustee? How...more

Bennett Jones LLP

Bennett Jones Leading the Way in Employee Ownership Trusts

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Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

Levenfeld Pearlstein, LLC

Keeping Romance Alive in Premarital Planning

Each year, “proposal season” begins around Thanksgiving and ends on Valentine’s Day. Then the planning begins — the date, the venue, the guests — and, for many couples, a premarital agreement....more

Fox Rothschild LLP

Top 5 Common Income Sources in Complex Child Support Cases

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Income from all sources is considered when calculating a monthly child support amount under the Pennsylvania Support Guidelines. Some child support cases are complex because a party has different sources of income beyond W-2...more

Rivkin Radler LLP

Will the Federal Estate and Gift Tax Exemption Be Reduced in 2026?

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The federal estate and gift tax exemption changes from year to year. The current combined federal estate and gift tax exemption amount of $13.99 million per person ($27.98 million per married couple) is scheduled to “sunset”...more

Rivkin Radler LLP

Expiring Federal Transfer Tax Benefits – Nothing is Certain or Lasts Forever

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Just a few weeks ago, many individual taxpayers, driven by what they viewed as the relatively imminent expiration of the enhanced federal transfer tax exemptions, sought advice on how to leverage their remaining exemption and...more

Proskauer Rose LLP

UK Tax Round Up - December 2024

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Welcome to the December 2024 edition of our UK Tax Round Up. This month has seen interesting decisions on the basis for rescission of an arrangement with adverse tax consequences, the treatment of a loan from an EBT, the tax...more

International Lawyers Network

Buying and Selling Real Estate in Ecuador (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW - Real Estate acquisitions typically involve several key stages, ultimately leading to the transfer of ownership. The most common phases include: 1) Initial...more

Foodman CPAs & Advisors

Pass-Through Entities are Under Scrutiny by IRS

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On 10/22/24, the IRS announced that is has officially commenced operations of the newly established pass-through field operations unit within its Large Business and International (LB&I) division, which was announced last...more

Proskauer Rose LLP

Key Concerns for Trusts and Estates Pertaining to the Corporate Transparency Act

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The Corporate Transparency Act (CTA), passed into law on January 1, 2021 in an effort to crack down on money laundering and other financial crimes, requires certain entities to report their beneficial owners to the federal...more

Saul Ewing LLP

The Incomparable IDGT: The Gift That Keeps on Giving

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When creating trusts for estate-reduction purposes, nothing compares to the Intentionally Defective Grantor Trust.  This type of trust is referred to by the acronym “IDGT.” Called by some as an I-D-G-T and others a word that...more

Barnea Jaffa Lande & Co.

Tax innovations in Israel during 2024

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Over the past year, alongside handling the economic repercussions of the war and issuing financial assistance to war victims and to evacuees, the courts, the legislative authority and the Israel Tax Authority continued their...more

BakerHostetler

[Podcast] Estate and Tax Planning for Globally Mobile Clients: Purchasing U.S. Real Estate by Non-U.S. Persons

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Non-Americans who wish to purchase U.S. real estate should be aware of the tax consequences of owning real estate here. George McCormick discusses these tax issues and steps to minimize their impact....more

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