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A trust is a device for controlling how assets are held and distributed. Trusts can be revocable or irrevocable. A trust that is created...

Thoughtful estate planning will protect your heirs and help minimize taxes. It's never too early to start planning, but it can be too late.

Estates of decedents dying on or after January 1, 2011, may elect to transfer any unused estate tax exclusion amounts to the surviving...

The Bank Secrecy Act requires taxpayers to report foreign bank accounts, brokerage accounts and mutual funds, to the Treasury Department....

In planning for gifts of property, if the donor has a choice among more than one type of property to be transferred as the gift(s) (e.g.,...

The Internal Revenue Service has issured final regulations relating to the life expectancy and distribution period tables used to...

A key element of the unified estate and gift tax system is the unlimited marital deduction. The estate and gift tax structure permits...

Non-grantor trusts, are separate taxpaying entities. Income taxes generated by the trust are paid for by the trust. The trust must file...

For federal gift tax purposes, the value of a gift of property is the fair market value of the property at the time of the gift. Where...

What is a trust? A trust exists when one person (the trustee) holds title to property for the benefit of another person (the...

For federal estate tax purposes, the terms “spouse,” “husband,” and “wife” includes individuals of the same sex who were lawfully married....

The Federal Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or...

A United States citizen who inherits foreign real property from a nonresident alien receives a stepped-up basis in such property under...

The New York Attorney General's Charities Bureau protects the public interest in charitable gifts and bequests contained in wills and...

You may have read or heard news about two bills recently introduced in the Senate that, if enacted, could have a significant impact on...

It has been this authors experience that the engagement agreements of many divorce attorneys specifically disclaim the divorce attorney’s...

Decedents who died prior to 1982 were subject to a rule requiring that any property transferred by gift within three years prior to the...

Internal Revenue Code section §2042 deals with the inclusion in the gross estate, of the proceeds of life insurance policies, payable by...

Internal Revenue Code (I.R.C.) Section 2037 requires the inclusion in the gross estate of property which had been transferred by gift...

The gross estate includes the value of any interest in property transferred by decedent during lifetime, if the enjoyment of the interest...