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  • Article

    New Legislation Sends Mixed Messages On Trusts' New York Use Tax Liability

    New legislation, effective as of April 2017, dramatically increases the likelihood that entity-owned, personal property will become subject to New York's use tax once used in the state.
    United StatesCorporate/Commercial Law
    Herrick, Feinstein LLP
    Herrick, Feinstein LLP
  • Article

    Some Trusts Are Welcome, Others Less So

    For many years, co-op and condo boards have been averse to allowing the purchase or transfer of apartments through trusts. Under these financial arrangements the trustor (or grantor) gives the trustee
    United StatesCorporate/Commercial Law
    Stroock & Stroock & Lavan LLP
    Stroock & Stroock & Lavan LLP
Article

Are Two Really Better Than One? Not Necessarily.

Selecting the right executor or trustee is crucial to effective estate planning, but should you appoint one person or multiple co-fiduciaries? While naming co-executors or co-trustees may seem like a way to share the workload and provide checks and balances, this approach often introduces unexpected conflicts and administrative complications that can outweigh its benefits.
United StatesFamily and Matrimonial
Ward and Smith, P.A
Ward and Smith, P.A
  • Article

    Trust And Estate Planning: Tax, Valuation, And Strategic Considerations

    Trust and estate planning is an intricate process that involves careful consideration of legal, financial, and personal factors to ensure the seamless transfer of assets and properties to your...
    United StatesFamily and Matrimonial
    Bennett Thrasher
    Bennett Thrasher
  • Article

    Why Personal Trusts Make Real Estate Transfers Easier

    One way to prepare for those circumstances is to hold real estate in a personal trust. For homeowners who already have a trust or are considering one, how the property is titled can have a significant impact on who has the authority to deal with it later.
    United StatesFamily and Matrimonial
    Minchella & Associates
    Minchella & Associates
  • Article

    U.S. Court Of Appeals For The Third Circuit Agrees To Hear Interlocutory Appeal In CFPB Enforcement Action Against Student Loan Trusts

    On April 29, 2022, the U.S. Court of Appeals for the Third Circuit granted a petition for permission to appeal in Consumer Financial Protection Bureau v. The National Collegiate Master Student...
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    Recent Cases Of Interest To Fiduciaries

    In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:
    United StatesLitigation, Mediation & Arbitration
    McGuireWoods LLP
    McGuireWoods LLP
  • Article

    Where Parties Have Free Rein To Amend, Anything Goes

    Along the way, Justice Eileen Bransten dealt with a variety of other issues of perennial interest.
    United StatesLitigation, Mediation & Arbitration
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Washington Millionaires’ Income Tax: What It May Mean For You

    Washington State has enacted a new 9.9% income tax on individual earnings exceeding $1 million annually, effective January 2028.
    United StatesTax
    Stokes Lawrence, P.S.
    Stokes Lawrence, P.S.
  • Article

    Highly Appreciated Property And Capital Gains: A Look At Charitable Remainder Trusts

    With rising real estate prices many people find themselves facing the prospect of high capital gains taxes when selling property.
    United StatesCorporate/Commercial Law
    Stites & Harbison PLLC
    Stites & Harbison PLLC
  • Article

    Why A ‘Grantor Trust' Is A Good Addition To Every Estate Plan

    The Internal Revenue Code is a long, complicated law with many subtitles, chapters, parts and sections.
    United StatesFamily and Matrimonial
    Thompson Coburn LLP
    Thompson Coburn LLP
  • Article

    FinCen Issues Small Entity Compliance Guidance: An Approach To BOI Reporting Obligations

    The US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") published its Small Entity Compliance Guide (the ​"Guide") for the Corporate Transparency...
    United StatesFinance and Banking
    Kelley Drye & Warren LLP
    Kelley Drye & Warren LLP
  • Article

    Proposed Legislation Drastically Changes Estate Planning Landscape

    On September 27, 2021, the Build Back Better Act (the "Act"), was introduced in the House of Representatives
    United StatesTax
    Riker, Danzig, Scherer, Hyland & Perretti
    Riker, Danzig, Scherer, Hyland & Perretti
  • Article

    The California Billionaire Tax Act: Constitutional Limits On Implementation

    The California Billionaire Tax Act (the “BTA”) contains multiple constitutional defects built into its design. It implicates the Due Process Clause, the Dormant Commerce Clause, and other constitutional limits in ways...
    United StatesTax
    Baker Botts L.L.P.
    Baker Botts L.L.P.
  • Article

    Are There Limits To The Remedial Powers Of An Indenture Trustee?

    In the recent case of Cortlandt St. Recovery Corp. v. Bonderman (NY Ct. Ap. Feb. 20, 2018), the New York Court of Appeals addressed the question of the limits on the authority of an indenture trustee to...
    United StatesCorporate/Commercial Law
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Grantor Retained Annuity Trusts (GRATs) And Sales To Grantor Trusts

    A grantor retained annuity trust or an installment sale to a grantor trust can be useful in transmitting wealth in a tax-efficient way.
    United StatesCorporate/Commercial Law
    McGuireWoods LLP
    McGuireWoods LLP
  • Article

    January Private Client Update

    In our October Alert, we wrote about the House budget reconciliation bill, H.R. 5376, called the Build Back Better bill (the "Bill").
    United StatesCorporate/Commercial Law
    Ropes & Gray LLP
    Ropes & Gray LLP
  • Article

    Maintaining S Corporation Status: Eligibility Requirements, Termination Risks, And IRS Relief Options

    Closely held corporations typically elect to be treated as S Corporations because doing so allows their shareholders to continue to have the legal benefits of operating in corporate form...
    United StatesCorporate/Commercial Law
    Farrell Fritz
    Farrell Fritz
  • Article

    New Israeli Tax Law Applies To Many U.S. Trusts

    Until 2014, Israeli residents were not taxed on any distributions they received from trusts created by a foreign person with a foreign trustee unrelated to the beneficiaries.
    United StatesCorporate/Commercial Law
    Fox Rothschild LLP
    Fox Rothschild LLP
  • Article

    Recent Cases Of Interest To Fiduciaries - October 14, 2014

    The statute of limitations barred beneficiaries' claims where their claims were not filed until well after the trust termination should have occurred.
    United StatesCorporate/Commercial Law
    McGuireWoods LLP
    McGuireWoods LLP
  • Showing 361–380 of 588 results

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