Cynthia Libonati, et al. v. Dora D. Williams Ransom, et al., Case No.: 09-cv-1901 (D. Md. October 22, 2009) This matter involves a dispute over the alleged fraudulent conveyance of the financial accounts of Richard Sacker ("the Decedent"). Plaintiffs, the Decedent's family members, filed...

Many people mistakenly believe they don't need an estate plan if their estate won't be subject to estate taxes. However, there are many reasons to plan your estate...

Special tax rules that generally apply to investment income earned by children under the age of 18, commonly known as the "kiddie tax," may leave tribal minors' trust beneficiaries with significantly higher tax bills than anticipated.

As we march quickly through the last quarter of 2008, consider the following for this year and for 2009.

Trustees have always had to distinguish between capital and income, for tax purposes and to protect the interests of differing classes of beneficiaries.

The IRS is your patient partner waiting to collect around 50% of what you own in the form of Death Taxes. Estate planning is necessary to make sure that your assets go to family and charitable recipients rather than to the IRS. Estate taxes are generally due within 9 months of death.

A $1,000,000 estate costs approximately $50,000 to probate and takes about 1 to 2 years. Creating and funding a living trust avoids probate.

This article provides a summary of some of planning ideas which will help start a charitable gifting program.

We live in extraordinary times. The value of securities, real estate and other assets is depressed or declining, and interest rates are very low. At the same time, the shape and detail of future tax laws are uncertain.

Three decisions issued last week by the Appeals Court pursuant to Rule 1:28 are worth mentioning.

The death of a shareholder owning S corporation stock poses unique challenges to those administering the decedent's estate. Unfortunately, failure to address these issues properly in the administration of the estate can have materially adverse effects on the corporation and the other S corporation...

Not long ago the commercial real estate market was flying high. An individual who sold commercial real estate ran the risk of being hit with a large capital gains tax bill. www.arnoldporter.com

As you may know, the Connecticut estate and gift taxes were recently changed. As a result of the budget compromise reached in the state legislature, there is new legislation as of September 8, 2009. The legislation includes an increase in the tax exemption, a reduction in the tax rate and an...

As you may know, the Connecticut estate and gift taxes were recently changed. As a result of the budget compromise reached in the state legislature, there is new legislation as of September 8, 2009. The legislation includes an increase in the tax exemption, a reduction in the tax rate and an...

There is no statute or opinion in Maryland that specifically either permits or prohibits attorneys to be paid from anyone¿s non-probate assets for legal work done to assist a personal representative in his/her administration of the probate estate (with or without written consent of...

Low asset values. Low interest rates. Tremendous volatility in stock prices. Increasing exemptions. Increasing tax rates.

The U.S. taxation of foreign trusts and trusts with foreign grantors was altered substantially by the Small Business Job Protection Act of 1996 ("1996 Small Business Act") and the Taxpayer Relief Act of 1997 ("1997 TRA").

New York State recently enacted a broad transformation of its power of attorney statute, which is generally effective September 1, 2009. The Statutory Short Form and Other Powers of Attorney for Financial Estate Planning law introduces a new statutory power of attorney to replace the durable,...

The federal estate tax exemption will increase from $2,000,000 to $3,500,000 for decedents dying on or after January 1, 2009.

As 2009 approaches, we can look back on a year of unprecedented events that have left us cautious about how to plan for the future: a historic election, uncertainty about changes in the tax laws, financial upheaval that has brought low interest rates and fear of a long recession.