Morgan Stanley has held talks to sell up to a 49-percent stake to China’s sovereign wealth fund, China Investment Corp., which already owns a 9.9-percent stake in the firm, the Financial Times reported Thursday.
Morgan Stanley, perhaps in an effort to quell investor fears that it was on similarly shaky ground as Lehman Brothers, pre-announced its third-quarter earnings yesterday, surprising analysts with census beating results.
A beneficiary did not hold general powers of appointment. In Private Letter Ruling 200832015 (issued March 26, 2008), a trust was created for the benefit of the taxpayer. The trust was grandfathered from generation-skipping transfer tax. The...
In Revenue Procedure 2008-45, 2008-30 Internal Revenue Bulletin 224 and 2008-46, 2008-30 IRB 238 both issued July 24, 2008 the Internal Revenue Service provides sample forms for creating both testamentary and inter vivos charitable lead unitrusts ...
During the life of a trust, its tax status may change from grantor to non-grantor, or vice versa. This may be deliberate (a powerholder relinquishes a power that caused the trust to be a grantor trust), unintentional (a change in trustee) or even...
A legacy of compassion links back to the earliest Red Cross visionaries. Clara Barton founded the American Red Cross in 1881, and for more than 125 years, the Red Cross has been the place where Americans reach out to those in need. America's...
Cardiovascular diseases claim almost one million lives in the United States every year. The No. 1 and No. 3 causes of death annually are heart disease and stroke. The American Heart Association, including its American Stroke Association division...
The logjam that for eight years has checked the pace of private trust company (PTC) creations will be dislodged when the Internal Revenue Service finalizes its proposed revenue ruling, perhaps as soon as the end of this year.1 Once it's gone...
