Posts Tagged ‘Estates’

New Tax Laws Make Some Trusts' Investment Income Taxable in 2014

An article published on Bloomberg’s website BNA.com reported on recent changes to the tax laws that make some trusts’ previously-exempt net investment income taxable in 2014. According to the report, Adrienne Mikolashek, an attorney with the IRS Office of Chief Counsel, stated, “Once a trust distributes net investment income to a beneficiary under the Internal…

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CLE on Planning with Portability – Wills, Trusts & Estates Prof Blog

The American Taxpayer Relief Act of 2013 (ATRA) has given portability its permanence. Portability requires additional review and revision of estate plans by counsel that some clients may resist. Are you prepared to listen to your clients’ concerns, work within their legal budgets, and provide the appropriate guidance? … Read more: CLE on Planning with Portability…

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Article on Probate Definition of Family | Wills, Trusts & Estates Prof Blog

The UPC and statutes in all states provide default rules that direct the distribution of property when a person dies with probate property and without a will. The default rules–intestacy statutes–give the decedent’s property to members of the decedent’s family, following rigid relationship rules … Read more: Article on Probate Definition of Family | Wills, Trusts…

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