A recent Tax Court Case, Smaldino V. Commissioner Of Internal Revenue, T.C. Memo. 2021-127, November 10, 2021 has lots of important lessons on how to do an estate plan properly. These lessons are particularly important for those that did planning in a rush in 2020 and 2021 fearing dramatic changes in the tax laws. Even…
This article was originally posted on the ABA Real Property, Trusts and Estates Law Section RPTE E-Report and can be accessed as here. By: Martin M. Shenkman, Esq. and Joy Matak, JD, LLM Changing Winds of Tax Legislation For the better part of 2021, threats of significant tax changes have been swirling around the halls…
Podcast discussion of estate and related planning in Mid-November 2021. Host: Mary Vandenack, Esq. Speakers: Jonathan G. Blattmachr, Esq. and Martin Shenkman, Esq. *There are no professional advancement credits (CPE, CLE, etc.) offered for viewing this podcast.
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2876. On March 25, 2021, Senate Budget Committee Chairman Bernie Sanders (I-VT) fired the opening salvo in the debate over raising taxes by holding a hearing provocatively entitled “Ending a Rigged Tax Code: The Need to Make the Wealthiest People and…
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2854. With the results of the Georgia runoff election, the Democrats control the House, the Senate and the White House. So, the potential for significant tax legislation increasing taxation of the wealthy along the lines of prior Democratic proposals might be…
Speakers: Martin M. Shenkman, Esq. This video discusses estate planning considerations for passing wealth to your heirs, as well as considerations for proposals that have been made regarding the estate tax in the “Build Back Better” legislation by both President Biden and the Democratic legislature. Handout One Slide Per Page
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2467. The New Jersey estate tax will be phased out. The New Jersey estate tax exemption, presently $675,000, the lowest in the country, will increase to $2 million after January 1, 2017 and will then be eliminated after January 1, 2018….
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #205. Generally, states can only tax the income of non-residents that is sourced to that state, but no more. States can tax all the income of their residents without regard to the source. However, a handful of states look to whether…
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2348. The 41st Annual Notre Dame Tax and Estate Planning Institute was held on September 17th and 18th at the Century Center in South Bend, Indiana. In addition to estate planning topics for high net worth individuals, this year’s Institute featured…
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #2840. Practitioners may still wish to encourage clients to consider estate and asset protection planning aggressively before the end of 2020. While we can now expect a changing of the guard at the White House and retention by the Democrats of…