■ Elizabeth Taylor Estate Plan: If the Obama administration enacts portability of the estate tax exclusion the Chapel of Love in Las Vegas may be the biggest beneficiary. Here’s the deal. Portability means that if your spouse dies you can use any exclusion (currently $3.5M) he did not use. This is without even needing a…
Summary: Representative Pomeroy introduced estate tax legislation with the snappy title “Certain Estate Tax Relief Act of 2009” (H. R. 436). This bill has good and bad news depending on your view of the estate tax. For many high net worth folks, the news isn’t bad. It’s really awful. The Bill proposes a host…
Summary: The last two issues reviewed a round up of issues affecting art and collectibles. This final part of the series will provide a brief overview of additional planning considerations. Estate Tax Art Audit The IRS Art Advisory Panel of the IRS reviews the fair market value of all works of art reported on…
Every estate planner is pushing developers to gift real estate now while values and interest rates are low using GRATs, IDIT and other fancy acronyms. But low property values and other economic issues befalling some real estate investors and developers won’t necessarily support a sufficient change in circumstances to modify alimony or child support obligations,…