Thinking about suing to get your fair share from your dad or mom’s estate? Think again. From a post on the Colorado Construction Law Blog about a piece in the Utah Bar Journal: One of the most important points set forth by Mr. Adams [in the Utah Bar Journal] is to remind the parties that […]
From the article New Basis Reporting Requirements for Executors and Beneficiaries: Recent federal legislation adds fresh compliance burdens to an old concept in federal tax law: the step-up in tax basis of appreciated property at death. New reporting requirements will apply to estates required to file a federal estate tax return after July 31, 2015 and […]
What’s a stretch IRA, you say? Well, it’s not a new type of IRA, rather it’s a strategy to preserve the value of an inherited IRA, to defer the tax on as much of the IRA as possible for as long as possible. As the law now stands, the owner of an IRA has to […]
As anyone who’s read my profile knows and as I’ve stated elsewhere on this blog, I once wrote for Bloomberg–for three Bloomberg magazines, in fact. One of them was Bloomberg Wealth Manager, which was later sold and then sold again. I continued to write for the magazine in all its iterations. The other day, I stumbled […]
Sometimes feel confused? Wonder why the left hand can’t understand what the right hand is supposed to be doing? Imagine what your family will feel like the day after you’ve passed on to the great beyond, then think about how a well-drafted trust might clear things up for them. I’ve written more than a few […]
“Family business succession planning is the cornerstone of any successful family business owner’s estate plan. As is often the case, however, planning for the inter-generational transfer of ownership and control of the business becomes complicated by the intra-generational conflicts of the business owner’s heirs. These onflicts among members of the second generation, if severe enough, can render the […]
If one advances confidently in the direction of his dreams, he will meet with a success unexpected in common hours.” Henry David Thoreau
Briefly, creating a conservation easement can allow you to receive good by doing good. Consider creating one on your property to protect “natural, scenic, or open space values of [that] real property, assuring its availability for agricultural, forest, recreational or open space use, protecting natural resources, maintaining or enhancing air or water quality, or preserving the […]
On the impact of the business structure of a farm on federal farm payment limitations: The structuring question also influences eligibility for the federal farm program payment limitation. Under the Federal Agriculture Improvement and Reform (FAIR) Act, of 1996 and earlier legislation, each “person” under one or more production flexibility contracts is eligible for a […]
I’ve been attending a continuing education webinar on drafting trusts. Very interesting. There is so much you can do with trusts, so many avenues to make sure your wishes are carried out when you’re no longer with us or become incapacitated. Among other things, as with a will, you can make specific distributions to specified […]