Note From the Editor: January 2025Note From the Editor: January 2025
Editor in Chief Susan R. Lipp weighs in on the contents of this month's issue.
The start of a new year is always a good time to review the previous year and plan for the future. This past year, new laws and regulations were passed or took effect that directly affect estate planning. One such law is the Corporate Transparency Act, which requires most companies formed or registered before Jan. 1, 2024 to file reports with the Financial Crimes Enforcement Network (FinCEN) by Jan. 1, 2025. We’ve covered these rules in past issues of Trusts & Estates and will continue to provide coverage as FinCEN implements this law (most recently, a federal court suspended its enforcement). In addition, on Sept. 16, the Treasury released new basis consistency regulations that help clarify the basis of assets and add requirements to ke...
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