Estate Articles Archive

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• October 1, 2008 A New Context For Expatriation Plus: Newman’s Own Estate

  Expatriation to save estate tax in another country wouldn’t make sense if estate tax was on the verge of being repealed here in another year, i.e., by 2010, especially under the burdensome expatriation rules that previously applied. Both of those premises have changed—reversed in fact. The United States appears certain to retain its estate tax and now has a new approach to expatriation. Download File (35 KB, PDF)

• September 1, 2008 Capital Gains, Real Estate, and Strategies for the Final Frontier & Celebrity Estates

  It can be a drag not being able to sell property simply because one is hoping for or expecting a stepped up basis if that property is still held at death. But is an investor completely restricted? Aren’t there a few loopholes through which an investor can safely transfer non-residential real estate during life without incurring capital gains? Download File (52 KB, PDF)

• May 1, 2008 The Series FLLC: Copasetic Estate Planning for the 21st Century?

  Forms of business are chosen for multiple reasons and keep evolving to meet modern needs. One of the newer forms is the Series LLC that allows many separate assets to remain as separate “cells” of the umbrella LLC for liability purposes, yet remain one single LLC, with a single tax return, for tax purposes. Download File (42 KB, PDF)

• March 1, 2008 The Presumption of Death: Steve Fossett & Celebrity Estates In The News

  What happens to the estate of someone who is missing? When will a missing person be presumed dead for legal purposes? What happens if a person who has been legally declared dead then returns? The recent declaration of death for adventurer Steve Fossett helps illustrate some of these issues. Download File (90 KB, PDF)

• February 1, 2008 A Knight’s Tale: Also: The Zero Percent Capital Gains

  Like a knight's quest from days of yore, the trustee of the William J. Rudkin Testamentary Trust has battled the Commissioner of the IRS from the Tax Court to the Second Circuit Court of Appeals and on to the highest court in the land. The United States Supreme Court has ruled that the investment advice received by a trust is subject to the 2% threshold to be deductible. Download File (63 KB, PDF)

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