Asbury Law Firm: District Court: Estate Tax Marital Deduction Triggers Unconstitutional Ruling on DOMA

In a case that began with a claim for a refund of estate taxes paid, Judge Barbara S. Jones of the Southern District of New York ruled that the Defense of Marriage Act (DOMA) is unconstitutional under the Equal Protection Clause of the 5th Amendment. Edie Windsor and Thea Spyer were a couple for over...

Obama vs. Romney: What It Means for the Estate Tax

The December 31, 2012 sunset date for the estate tax, as provided by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, is once again quickly approaching, and in typical fashion there is a divide over what the fate of the estate tax should be. With the Obama and Romney...

Custodial Accounts: Some Federal Tax Considerations

by Genevieve M. Moore , Morrison & Foerster LLP ... Like many estate planners, we were kept very busy in the last quarter of last year, assisting clients who could take advantage of 2012's large per-person federal gift tax exemption and low gift tax rate. Therefore, this monthly posting...