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Historically low interest rates have made self-canceling installment notes (SCIN) an attractive estate-planning tool and a viable alternative to life insurance. Real property is one asset that, as we know, has declined in value during recent...
The booby prize when property held in trust is included in a decedent's taxable estate is that the property receives a fresh income tax basis. So, there's estate tax on the property because it's in the estate. But at least the fresh basis wipes...
Estate planning for professional athletes can be a whole different ballgame. For most clients, estate planning takes into account wealth that will be, or has been, accumulated over many years. The lawyer's job is to arrange for the orderly...
Today there is a fairly common story heard along the boulevard of broken Wall Street dreams. It goes something like this. In late 2007, a 65-year-old wirehouse broker happily trotted into his office crowing about his plans to retire in 2008. This...
In times like this, who isn't worried about the financial stability of their place of work? Long before their clients hit the panic button, financial advisors need to be analyzing whether their clients' employers are likely to file for bankruptcy...
A recent decision out of New Jersey Estate of Stevenson v. Director, Division of Taxation1 illustrates a novel issue arising under the decoupled estate tax systems adopted by many states: the potential imposition of state death taxes on federal...