Hoping to join the ranks of the Cayman Islands and Guernsey, or more realistically, to compete effectively with South Dakota, Nevada, Wyoming, Delaware, Alaska and other states, for trust business, New Hampshire is in the process of radically...
Since the first test tube baby was born in 1978, tremendous advances have been made in the science of assisted reproduction. Thousands of infants are born each year as a result of assisted reproductive technology (ART)1 and the more traditional...
When drafting an estate plan, it's critical to be aware of any buy-sell or other agreements that may be binding on the client's estate at death. While the buy-out price set in such an agreement is enforceable for contract purposes, it may not be...
From David T. Leibell and Daniel L. Daniels, partners of Cummings & Lockwood LLC in Stamford, Conn., we have this update: IRS approves private foundation's venture philanthropy strategy for assisting minority-controlled businesses. The IRS...
The grantor retained annuity trust (GRAT), statutorily allowed by Congress since 1990, can transfer part or all of a wealthy person's business to the next generation, free of gift tax, and in a way that removes the business from estate taxation. A...
George Harrison, internationally renowned for his music, spirituality and philanthropy, might have been known as the quiet Beatle, but the last few years of his life were far from quiet. A continuous media frenzy surrounded Harrison's last years...
It's often necessary or simply desirable to terminate an estate or trust in favor of its beneficiaries. Problems arise when that estate or trust is the beneficiary of an individual retirement account (IRA) and termination should occur before all...
People and assets increasingly cross international borders. Wealthy families are doing business and moving to places they might not have imagined a decade ago. They also own property and assets in a number of countries and often find themselves...
High-net-worth individuals are increasingly investing in private equity because they can expect greater returns from it than from public equities, and because they find it useful as an additional asset class for diversification. The volume of...