Estate planning, gift tax rules, and everything that happens when wealth passes from one generation (or person) to the next.
Talk about a walking advertisement for trust law… A German man won almost $1 million in the lottery and promptly spent most of it. Embarrassed, he turned to burglary rather than confess to the welfare office that he had no winnings left. He has now admitted to at least 60 offenses. Totally unbelievable? Not really. I had…
Senator Majority Leader Bill Frist put off the vote on making permanent the federal estate tax repeal until after the summer break. You may recall that I previously reported that the Senate did not have the necessary votes for the bill but had vowed to call a vote nonetheless prior to the break, perhaps symbolically. Well,…
In what can only be considered an attempt to make a statement, a handful of Senators is introducing a new bill to make the federal estate tax repeals permanent. Those Senators have admitted that they are several votes short of those needed to be successful; nonetheless, the Boston Globe has reported this morning that the…
On July 15, 2005, the Fifth Circuit released a decision in the Strangi case affirming the Tax Court’s decision to include family limited partnership assets in the decedent’s taxable estate. This latest ruling, referred to as Strangi V, is the last (?) in a long list of cases involving the Strangi family and creation of…