UBS is trying to address two of its thorniest problems: angry investors who hold frozen auction-rate securities, and angry financial advisors who are leaving because they feel the firm has lost the plot—or simply because they want those fat...
Partnership restrictions disregarded under IRC Section 2703. Estate-planning lawyers are buzzing about the Tax Court's recent decision on family limited partnerships, H. Holman, Jr., 130 TC 12 (May 27, 2008), because the court ignored commonly...
While neither the presumptive Republican nor Democratic candidate for president has been very vocal about estate tax reform legislation, both have expressed a position: Senator John McCain (R-Arizona) voted for full repeal of the estate tax in the...
What do clients do with the cash when they receive large cash payments from, say, the sale of a business or a significant asset, such as a house or a work of art? You probably have advised them on designing and implementing cutting-edge tax and...
Half a century ago, the economic historian Karl Polanyi argued in the classic book The Great Transformation that self-regulating markets never work and that government intervention always becomes necessary to prevent catastrophe. Buried toward the...
With the Internal Revenue Service on the verge of issuing final regulations, more than 17 professional organizations and legal commentators have taken a stand in the ongoing debate on the extent to which trusts and estates can deduct certain costs...
In an effort to provide uniformity and certainty in the valuation of claims for estate tax purposes, the Department of Treasury issued proposed regulations on April 23, 2007, to clarify that post-death events are to be considered in valuing...
The mere words asset protection make some lawyers wince.1 They think asset protection is dirty and those engaged in it are the ambulance chasers of the estate-planning bar. Of course, we all should turn our noses up at lawyers who tightrope walk...
Think back to a time long, long ago, before the adequate disclosure rules of 1997, before the changes in the generation-skipping transfer (GST) tax deemed allocation rules of 2001. It was a simpler time. At tax preparation firms all across the...
