Please note: Throughout this article, reference to “partnerships” includes LLC’s taxed as partnerships, and reference to “partners” includes members of LLC’s taxed as partnerships.
For tax years 2018 and beyond, the IRS will begin implementing new audit rules directed at partnerships as part of the Bipartisan Budget Act of 2015. A primary purpose of
In 2010, Warren Buffett and Bill Gates made their Giving Pledge campaign public. The Giving Pledge asks some of the wealthiest people in the world to donate at least half of their wealth to charity during lifetime or at their death. As of last year, 168 billionaires have signed the pledge. The fine print of the campaign, however,
Around The Water Cooler we typically do not dive into discussions about law review articles. However, several outstanding law review articles have been published in the past year which deserve the attention of trustees, trust beneficiaries and others involved in the administration of trusts.
The Act provides unique planning opportunities, but it also presents potential pitfalls for estate plans drafted before 2018. It is critical that clients review current plans to ensure that they meet tax and non-tax objectives and determine if they want to take advantage of the increased exemptions.
ESTATE TAX CHANGES ARE UPON US
The tax
In a highly anticipated opinion, the Pennsylvania Supreme Court has prevented an end around the no fault removal provision of Uniform Trust Code (“UTC”) Section 706. As we discussed in “An ‘End Around’ Trustee Removal,” UTC Section 706 provides that a court may remove a trustee if removal is requested by all of
This is the final installment of a series of posts that examine recent litigation against bank trustees in Mississippi. For the prior installments, please see Regions Hit with $4M Judgment over Trust Mismanagement.
While it is critical for a corporate Trustee to have a process, it is equally important that a corporate Trustee not
Welcome to Matters of Trust, a blog devoted to timely and relevant insight and commentary on trust administration and litigation. In the posts that follow, we’ll dive in to the latest news, case law, and issues relating to trusts.
My hope is that whether you are a beneficiary of a trust, a trustee, a
