by FamilyTrust | Apr 14, 2014 | Taxes, Trust & Estate Blog
A CNBC article posted last week noted an interesting change to the New York State tax laws intended to reduce estate taxes that could end up costing marginally wealthy people a higher than expected bill, by as much as 164%, in some cases. It’s a narrow window...
by FamilyTrust | Apr 10, 2014 | Family Trusts, Famous Estates, Irrevocable Family Trust, Irrevocable Trusts, Revocable Living Trust, Revocable Trusts, Taxes, Trust & Estate Blog
We have previously discussed how important it is to set up a Family Trust to protect your assets and legacy for your heirs. However, choosing the type of trust to create is equally as important, as the heirs to pop superstar Michael Jackson’s estate are finding...
by FamilyTrust | Apr 3, 2014 | Taxes, Trust & Estate Blog
One of the main principles of modern currency is that it must be “fungible” to be considered as money, which means that one unit, say a $100 bill, is able to replace or be replaced by any other $100 bill; that the two are, in essence, identical and...
by FamilyTrust | Mar 21, 2014 | Asset Protection, Taxes, Trust & Estate Blog, Trust Tax, Trusts and Estates
We recently discussed changes proposed in President Obama’s 2015 budget that would modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal, which would take effect in 2018,...
by FamilyTrust | Mar 12, 2014 | Estate Tax Exemptions, Generation-Skipping Transfer, Trust & Estate Blog
President Obama’s budget proposal for 2015, which was released earlier this month, includes provisions to modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal would...
by FamilyTrust | Feb 26, 2014 | Estate Tax Exemptions, Trust & Estate Blog, Trust Tax
An article published on Bloomberg’s website BNA.com reported on recent changes to the tax laws that make some trusts’ previously-exempt net investment income taxable in 2014. According to the report, Adrienne Mikolashek, an attorney with the IRS Office of...
