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In this episode of Worth It, Proskauer Associate Dan Hatten and Senior Counsel Nathaniel Birdsall discuss why clients should strongly consider planning with lifetime trusts for their children, grandchildren and more remote descendants.

As the summer days come to an end, and Fall fast approaches, the Appellate and Surrogate's Courts have been busy at work issuing the following decisions of interest impacting the field of trusts and estates.

May 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts...

The law relating to trusts and estates is constantly evolving. To keep you updated, this newsletter reports on recent notable court decisions from Connecticut, Florida, Massachusetts, New Jersey, and New York.

When starting up a company, forming a subsidiary, or creating an investment vehicle, selecting a business entity is one of the most significant decisions made by business lawyers and their clients.

On February 7, 2024, the US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued a Notice of Proposed Rulemaking on certain US residential real estate transactions ("2024 NPRM").

New York City's Pied-à-Terre Tax imposes substantial annual surcharges on high-value residential properties that don't serve as primary residences, with rates ranging from 0.8% to 6.5% of assessed value depending on property type and valuation. The Department of Finance has issued implementation guidance and mailed notices to affected property owners, who must now navigate complex exemption requirements and documentation standards by the September 18, 2026 deadline. Critical questions remain unresolved

In connection with offerings of securities, the underwriters or placement agents negotiate a lock-up agreement with the issuer and its directors, officers, and control persons.

The law relating to trusts and estates is constantly evolving.

On May 8, 2014, the IRS issued final regulations regarding which costs or expenses incurred by estates and non-grantor trusts are subject to the 2-percent floor.

Our relationship with this family client dates back to 1990 when our present client's father was caught in the storm of the Asian financial crisis. Due to personal guarantees, most of the family's

Unsurprisingly, Congress has long chosen to tax a married grantor on trust income, so long as the grantor's spouse is included in the class of beneficiaries. The grantor of a trust, Congress apparently reasoned...

California Estate Planning Case Study: Discover how real families in California overcame complex legal and financial challenges through smart trust-based strategies.

Unsurprisingly, Congress has long chosen to tax a married grantor on trust income, so long as the grantor's spouse is included in the class of beneficiaries.

The October § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 3.4%, down slightly from 3.44% in September.

On August 28, 2024, the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) finalized a rule to require reporting of certain US residential real estate transactions ("Final Rule").

Brian Lucareli, Director of Foley Private Client Services (PCS) and co-chair of the Family Offices group, sits down with Abbey Magnuson, associate and member of the firm's...