Robert AdlerNov 26, 2020Grantor Retained Annuity Trusts (“GRATs”)Usually, when a taxpayer transfers assets to an irrevocable trust for the benefit of another person, the transferor pays gift tax on the ...
Robert AdlerNov 26, 2020Artists and CollectorsArtists and collectors face unique estate planning considerations. Artists and collectors should keep a comprehensive inventory of their w...
Robert AdlerNov 25, 2020What is a Charitable Remainder Trust?A charitable remainder trust is an irrevocable trust wherein the grantor/donor can effectively sell appreciated assets without immediate ...
Robert AdlerNov 24, 2020What is a Qualified Disclaimer?A qualified disclaimer is an irrevocable and unqualified refusal to accept an interest in property. Because the system of wealth transfer...
Robert AdlerNov 7, 2020What is a Durable Power of Attorney?A durable power of attorney is a legal document that authorizes an individual to legally act on behalf of another individual. The individ...
Robert AdlerNov 3, 2020Who Must File a Gift Tax ReturnIf you are a citizen or resident of the United States, you must file a gift tax return (whether or not tax is due) if you gave gifts to s...
Robert AdlerOct 4, 2020Origin of Estate Planning and TrustsContrary to popular belief, no individual has a natural right to transfer property to others at his or her death.
Robert AdlerOct 4, 2020Why You Need a WillTo create the best estate plan for you and your family it is important that you work with a qualified attorney.
Robert AdlerSep 25, 2020Wealth Transfer Taxes (in 6 minutes)While future tax law changes are anyone's best guess, it's plausible that estate taxes may increase. If that turns out to be the case, gifti
Robert AdlerSep 15, 2020Stock Transfer Restrictions What are the common reasons for restricting ownership of closely held stock?
Robert AdlerSep 12, 2020What is Community Property?There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
Robert AdlerMay 11, 2020There are no RMDs required for 2020Under the CARES Act, RMDs for IRAs are waived for calendar year 2020.
Robert AdlerMay 3, 2020Life Events Trigger Estate Plan ReviewReview your estate plan if any of the following events are applicable to your situation...
Robert AdlerApr 17, 2020What is a Testamentary Trust?A testamentary trust is a trust contained in a will.
Robert AdlerApr 10, 2020Remote Witnessing of Wills Temporarily Allowed in New York due to CoronavirusDocuments can be signed, witnessed and notarized 100% by video conference on a temporary basis due to Coronavirus
Robert AdlerMar 29, 2020Paying Estate Tax In InstallmentsInternal Revenue Code Section 6166(a)(1) provides that an executor may elect to pay all or a portion of the estate tax attributable to a ...
Robert AdlerMar 29, 2020Coronavirus Aid, Relief, and Economic Security Act (Selected Highlights) Stimulus Payments: Up to $1,200 per person ($2,400 married joint) and $500 per child under 17. Eligibility is based on 2019 tax filing (...
Robert AdlerMar 27, 2020COVID-19 Executive Order Authorizes Virtual Notarization in New York StateNew York Governor Andrew Cuomo has issued Executive Order 202.7, which temporarily suspends the rule requiring physical appearance before...
Robert AdlerFeb 24, 2020Life Insurance and the Three Year RuleLearn how to avoid the three year rule problem.
Robert AdlerJan 19, 2020What is FBAR?Failure to file a FBAR when required to do so may result in civil penalties, criminal penalties, or both.