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IRS rules on: 1) whether amounts distributed pursuant to a settlement were subject to the generation-skipping transfer tax; and 2) whether an estate could receive a charitable deduction for a distribution to charity pursuant to the settlement....More

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  On Feb. 1, 2013, New York City lost a political icon.  Edward I. Koch, who served as mayor of New York City from 1978 through 1989, died of heart failure.  After a period of mourning, estate planning geeks almost certainly began to wonder—as they do every time a high-profile individual dies—what’s in Ed Koch's Will?  That question has now been answered, though some additional questions have been raised....More

Doug Moore explains the need to discuss with clients the higher exemption amount, portability and the potential disparity between the federal and state exclusion amounts....More