Posts by admin:
How the U.S. Supreme Court’s decision in Kaestner impacts state taxation of trusts
On June 21, 2019, the U.S. Supreme Court unanimously decided North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, holding that The Due Process Clause does not permit …
- Posted on: Oct 14 2019
Guardianships
A guardianship may not only be a useful tool in many situations, but for some it may be the only option. A guardianship is an arrangement where the court appoints …
- Posted on: Jul 10 2019
Sales Tax: Keep ‘Em Separated
On May 29, 2019, the New York State Department of Taxation and Finance released Technical Memorandum TSB-M-19(1)S highlighting some of the Sales and Use Tax changes enacted in the 2019-2020 …
- Posted on: Jun 13 2019
Passing the Torch: What you Need to Know About Business Succession Planning
Oftentimes, an individual’s largest asset is an operating business. Although the business is frequently passed down from generation to generation, at some point, the business may have to be sold.
- Posted on: May 8 2019
What happens if you cannot pay your tax bill on April 15th?
As the April 15th deadline for filing 2018 income tax returns draws near (April 17th for Maine, Massachusetts and the District of Columbia), many taxpayers may face a situation in …
- Posted on: Apr 5 2019
Lifetime Spousal Trusts: To Have and To Hold Your Marital Assets
Frequently, married couples have the desire to bequeath all of their assets to each other upon their passing. However, there may be reasons for spouses to instead transfer assets to …
- Posted on: Feb 13 2019
Disqualifying an Estranged Spouse
First comes love, then comes marriage, then comes a legal inability to disinherit your spouse? It’s true – New York state law prohibits an individual from completely disinheriting their spouse …
- Posted on: Dec 11 2018
Recent Private Letter Ruling Increases Benefits of IRA Trusts
In one of our previous blog posts, we discussed the growth of trusts that are utilized specifically to be named as beneficiaries of retirement accounts, and the various benefits associated with …
- Posted on: Nov 19 2018
Don’t get caught holding the (sales tax) bag
Sales tax….no one likes collecting it and no one likes paying it. How many times have you heard a business owner say “but if you pay me cash…” How many …
- Posted on: Nov 12 2018
De-Can’t I Change That Trust?
Decanting is a term that is used most commonly by wine sommeliers, but in the world of trusts and estates, it is also an important estate planning tool. Wine lovers …
- Posted on: Oct 5 2018