News

This is a generationally significant moment—strategic action now can preserve and protect multigenerational wealth when it ...
The American Institute of CPAs sent letters to the Treasury and the IRS asking for filing relief for taxpayers affected by major disasters and for more guidance on information returns for grantor ...
The complexity of art and collectibles planning means procrastination can be costly. As market conditions, tax laws, and family situations change, addressing these issues now ensures flexibility and ...
Until recently, there was a fair amount of comfort amongst practitioners that, when structured correctly, utilizing a tax reimbursement clause for a grantor trust did not produce any negative U.S ...
IRS won’t issue private letter rulings on this matter until it resolves the issue through revenue procedures or regulations ...
Starting January 1, 2025, the individual who is the grantor of a trust that qualifies as a grantor trust under Sections 671 through 679 of the ...
A trust structure called an intentionally defective grantor trust (IDGT) is another trust structure that can be used by a small business owner to transfer business interests to the next generation ...
Background In a given year, the grantor of the trust at issue in the CCA established and funded an irrevocable inter vivos trust for the benefit of the grantor's child and the child's descendants.
Short for “grantor-retained annuity trusts,” GRATs are heavily marketed by wealth advisors as a way families can channel jaw-dropping sums to their heirs while avoiding gift and estate taxes.
Often, as estate-planning attorneys, we create irrevocable trusts for our clients. But our job shouldn’ t end there. The catalyst for this letter was a combination of: two presentations at the ...