Estates

Scarinci Hollenbeck’s Tax, Trusts & Estates practice group regularly provides content on estates. To receive our attorneys' estates articles please subscribe to our email list.

Client Alert

Library

Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

25-36 of 49

Tax Free Gifts Have Increased in U.S.

Gift and estate tax laws allow Americans to make tax free gifts up to a certain amount. According to Bloomberg, Congress voted in December 2010 to increase that limit to $5 million for wealthy Americans, which led to a significant spike in the following years. In 2012, U.S. taxpayers reported making $122 billion in nontaxable gifts, […]

Author: James F. McDonough

February 21, 2014

IRS Wants to Heavily Tax Michael Jackson's Estate

It has been five years since Michael Jackson passed away, and that time has been filled with multiple controversies. It appears as though that is going to continue, as the King of Pop’s estate and the Internal Revenue Service are currently in a battle over how much his estate was worth at the time of […]

Author: Frank L. Brunetti

February 19, 2014

IRS Extends Estate Tax Break

When a person passes away, the assets left for his or her family is generally subject to the estate tax. However, there are certain breaks that can help these people reduce this tax bill. According to Forbes, the Internal Revenue Service recently announced it is extending the time to take advantage of a key estate tax […]

Author: Frank L. Brunetti

February 18, 2014

Residency U.K. Style

Determining residency is a difficult task under a facts and circumstances test where the outcome may be subject to interpretation. The United Kingdom (U.K.) faces unique issues because of the existence of the Commonwealth and the mobility of residents between member states. The U.K. has fashioned tests designed to make clear whether an individual is […]

Author: Frank L. Brunetti

February 12, 2014

Taxpayers Can Expect Bigger Estate Tax Credits in 2014

Individuals and families with a high net worth often have to pay a significant amount of taxes on their estate under U.S. tax law. However, there are bigger estate tax credits on the way for estates in 2014, according to the Motley Fool. For example, the unified estate and gift tax exclusion amount is expected […]

Author: Frank L. Brunetti

January 31, 2014

Maryland Legislators Have Agreed To Cut Estate Tax

After passing on, people want to be sure that their assets are properly disbursed to family members. However, these assets often face estate tax law, which can cut into the value. This tax varies from state to state, and has an impact on where wealthy retirees choose to live after leaving the work force for good. According […]

Author: Frank L. Brunetti

January 27, 2014

Tax Cuts

State Estate Taxes More Important Than Federal

Tax laws require federal and state estate taxes, and many advisers have put their major focus focus on the federal level in the past. However, with the exemption rising to $5.25 million – unused amounts can be transferred to a surviving spouse – many people actually don’t end up paying federal estate tax, according to The Wall Street […]

Author: Frank L. Brunetti

January 17, 2014

4 Steps to Successful Estate Planning

While nobody wants to think about life after they are gone, being prepared is important, which is why people should take estate planning seriously. By completing the necessary steps, people can ensure that their children and spouses are taken care of should the unfortunate happen. The following are four steps that can be taken to […]

Author: James F. McDonough

January 13, 2014

What Americans Should Know About The 2014 Tax Brackets

With only a few days left until the new year rolls in, many Americans are conducting their year-end tax planning and establishing their tax plans for 2014. The Internal Revenue Service recently released the income tax brackets for the 2014 tax year, which will be essential in helping individuals make informed decisions about their various […]

Author: James F. McDonough

January 1, 2014

A 2.6 Billion Dollar Tax Bill: The Estate of Davidson and CCA 2013-033

A 2.6 billion dollar tax deficiency is likely to attract a lot of attention. The late William Davidson was a successful business man, owner of privately-held Guardian Industries, the Detroit Pistons and Tampa Bay Lightning. It appears that the decedent made substantial gifts of property but did not file gift tax returns. Some of the […]

Author: James F. McDonough

October 10, 2013

Estate of Turco: Is There Clawback For Insufficient Estate Tax Funds?

The lack of liquidity is a serious problem in the administration of an Estate, especially for a fiduciary with the potential for personal liability. The lack of liquidity can arise from no planning, illiquid assets or an unforeseen change in circumstances or market conditions. Federal estate tax is due nine months after death; however, it […]

Author: James F. McDonough

August 15, 2013

Rhode Island, Same Sex Divorce and Portability: Imperfect Together

Rhode Island Governor Chafee issued an executive order directing the state to recognize same-sex marriages performed out-of-state. The executive order does not, however, permit same sex divorce. Society is in a state of limbo where executive orders can address some, but not all, of the issues. How does one address the use of the Federal […]

Author: James F. McDonough

August 13, 2013

First
Previous
1
2
3(current)
4
5
Next
Last

Sign up to get the latest from our attorneys!

Explore What Matters Most to You.

Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.

Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.