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Scarinci Hollenbeck’s Tax, Trusts & Estates practice group regularly provides content on trusts. To receive our attorneys' trusts articles please subscribe to our email list.
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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.
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    OECD Pronounces Plan for Tax Evasion Reduction post image

    OECD Pronounces Plan for Tax Evasion Reduction

    Tax law violations are typically a crime that most people hear about in domestic news, but tax evasion and fraud appear to be an increasingly global phenomenon. As more individuals take advantage of favorable regulations and tax benefits in offshore accounts and foreign financial institutions, the ability to commit tax evasion has become more accessible. […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "OECD Pronounces Plan for Tax Evasion Reduction"
    The Plight of Billionaires Looking For New Havens to Shield Assets post image

    The Plight of Billionaires Looking For New Havens to Shield Assets

    In a recent article in Wealth Management, the author David de Jong and Robert Lafranco describe the difficulty billionaires face in providing a safe haven to shield assets. For example, they point out the troubles of Dimitry Rybolovelev who is Russia’s 14th richest person and is embroiled in a multi-jurisdiction divorce action with his wife. […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "The Plight of Billionaires Looking For New Havens to Shield Assets"
    Will a Special Trustee Permit a Trust to Avoid the 3.8% Surcharge? post image

    Will a Special Trustee Permit a Trust to Avoid the 3.8% Surcharge?

    Trusts and estates are now subject to the new 3.8% tax on Net Investment Income (NII) in excess of an income threshold of $11,950 in 2013. NII includes interest, dividends, rents, royalties or income from a trade or business that is a passive activity under IRC §469 (Passive Loss Rules). A trust can avoid the […]

    Author: James F. McDonough

    Link to post with title - "Will a Special Trustee Permit a Trust to Avoid the 3.8% Surcharge?"
    A Non-Traditional Trust Issue: Gender Reassignment post image

    A Non-Traditional Trust Issue: Gender Reassignment

    Occasionally, cases present fact patterns that were unanticipated at the time I was in law school. Today, however, a person’s ability to anticipate these situations is guided by the dramatic changes in medicine and reproductive technology. In Burnett v. Burnett, a guardian filed a divorce action on behalf of the ward for the primary purpose […]

    Author: James F. McDonough

    Link to post with title - "A Non-Traditional Trust Issue: Gender Reassignment"
    May a Trust Avoid the 3.8% Income Tax Surcharge? post image

    May a Trust Avoid the 3.8% Income Tax Surcharge?

    The 3.8% income tax surcharge (the “Surcharge”) is a new concern faced by trustee. The current investment environment poses challenges to invest in a manner that will produce enough income to satisfy beneficiaries. Trustees of trusts that own business assets may avoid the surcharge if the income earned from the business is deemed active rather […]

    Author: James F. McDonough

    Link to post with title - "May a Trust Avoid the 3.8% Income Tax Surcharge?"
    Rising Interest Rates Will Make Certain Gifts More Costly post image

    Rising Interest Rates Will Make Certain Gifts More Costly

    Rising interest rates in the Treasury market is a warning that it is about to become more costly to make certain gifts or to sell assets to related parties. The yield on Treasury securities is used as a yardstick for setting the interest rates that related parties must charge one another when transferring property in […]

    Author: James F. McDonough

    Link to post with title - "Rising Interest Rates Will Make Certain Gifts More Costly"
    Don't Leave Gift Taxes Out of Estate Planning post image

    Don't Leave Gift Taxes Out of Estate Planning

    When individuals and business owners begin estate planning, establishing a will and testament is often their first priority. In cases of high net-worth households and those who plan to pass business assets onto the next generation, a trust is also another popular element of estate planning. However, one of the most underutilized components that too […]

    Author: James F. McDonough

    Link to post with title - "Don't Leave Gift Taxes Out of Estate Planning"
    Kansas Sues Sperm Donor for Child Support post image

    Kansas Sues Sperm Donor for Child Support

    This case in Topeka Kansas has been in the news since December 2012. Mr. William Marotta provided sperm for a child conceived through artificial insemination for a lesbian couple. The State of Kansas is seeking to hold Mr. Marotta responsible for child support despite the fact that Mr. Marotta relinquished his parental rights in a […]

    Author: James F. McDonough

    Link to post with title - "Kansas Sues Sperm Donor for Child Support"
    Business Owners and Wealthy Individuals: Don't Forget to Account for State Estate Taxes post image

    Business Owners and Wealthy Individuals: Don't Forget to Account for State Estate Taxes

    Lawmakers’ decision to allow for a $5.25 million exemption for estates may have served as a great relief to wealthy individuals and small business owners who want to pass on considerable wealth to future generations. However, during estate tax planning, it’s important for individuals to also take estate taxes that their particular state may impose […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Business Owners and Wealthy Individuals: Don't Forget to Account for State Estate Taxes"
    Tax Evasion and Misuse of Trusts in List of 'Dirty Dozen' Tax Scams post image

    Tax Evasion and Misuse of Trusts in List of 'Dirty Dozen' Tax Scams

    The Internal Revenue Service released a list of the “Dirty Dozen” tax scams it would be focusing on in this year, and urges consumers and corporations alike to make note of these crimes. Offshore tax evasion was high on the list of infractions that the IRS is watching out for, and the agency has made […]

    Author: Scarinci Hollenbeck, LLC

    Link to post with title - "Tax Evasion and Misuse of Trusts in List of 'Dirty Dozen' Tax Scams"

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