Estate Tax Mindmap - Pros and Cons

The LexisNexis Estate Planning and Elder Law Community continues to provide you with further information regarding the estate tax debate. As part of our ongoing coverage of this issue, we have compiled some of the points in favor of and opposed to the estate tax. Related post: Point/Counterpoint...

The prepaid estate tax proposal: Is it something like ketchup?

In Malcolm Gladwell's book, What the Dog Saw , Gladwell discusses mustard versus ketchup, the first coming in a dozen varieties and the latter, basically, a single variety; there is Heinz, and pretty much only Heinz, with little competition from Hunt's, Del Monte, and smaller brands, like...

New York Court of Appeals hears arguments on stranger-owned life insurance and New York’s insurable interest rule

On October 12 th , the parties in Kramer v. Phoenix Life Ins. Co . presented oral arguments to the New York Court of Appeals regarding New York's insurable interest law and its effect on stranger-owned life insurance (SOLI or STOLI) arrangements. In Kramer v. Lockwood Pension Servs ., 653...

A Funny Thing about Charities ... Some of Them Play Football

Are College Football Bowls Entitled to IRC 501(c)(3) Tax Exempt Status? There's only a few weeks left in college football's regular season, and after that, the various bowls will invite teams to participate in post-season play. Several of the bowls are famous and esteemed, their mere mention...

Third Circuit aligns itself with Ninth Circuit in defining posthumously conceived twins as “children” for purposes of surviving child's Social Security benefits: Capato v. Comm'r (1-4-11)

The Third Circuit recently aligned itself with the Ninth Circuit in deciding that for the purposes of surviving child's insurance benefits under 42 USCS § 402(d) of the Social Security Act, a posthumously conceived child (i.e. donor eggs, artificial insemination, surrogate wombs) is a "child"...

Nazi Confiscations Reach Well into the Future, Continue to Frustrate Heirs: Foreign Sovereign Immunities Act Defeats Heir’s Action to Recover Art Collection from Germany

Following the Anschluss, Hermann Göring was asked about passports for the Viennese Jews. He responded, "All right, but not with any foreign currency. The Jews can go, but they will kindly leave behind their money, which they have stolen." In line with this thinking, the Reich financed...

A Look into the Elvis Presley Estate: Who Got What and Where Did It Go – Recent Filing Chronicles the Progress of Elvis’ Estate – FREE DOWNLOAD, Complaint

Who owns Elvis Presley? If you've toured Graceland and witnessed the Elvis Presley merchandising giant, it's a question you might have asked yourself. Elvis "the Brand" is a retail empire, from his Nashville home to his music catalogue to his image as a rock n' roll icon...

Fourth Circuit Splits from Ninth and Third Circuits in Refusing to Award Social Security Surviving Child Benefits to Posthumously Conceived Child

Last week, the Fourth Circuit refused to define a posthumously conceived child, whose parentage was undisputed, as a "child" for the sake of surviving child benefits. Instead, the court looked to state intestacy laws to determine benefits entitlement. Don Schafer, a Virginia resident, deposited...

In Pennsylvania, if Your Elderly Parents Can’t Pay for Their Long-Term Care, Then You Might Be on the Hook for It

Colonial Poor Law Imposing Liability on Today's Adult Children Last April, Julian Gray and Frank Petrich, both elder law attorneys, authored a Pittsburgh-Post Gazette article on a Pennsylvania law that can potentially saddle children with the unpaid costs of their parents' long-term care...

The “Death Book” Sounds Like a Stephen King Novel, But It’s Actually a Helpful Estate Planning Tool

Where do you keep all of your important financial information? -In a cabinet stuffed with unmarked files? -In a cardboard box full of unmanageable papers? -In an old Cleveland Indian's suitcase like my dad once did (odd but true)? There are multiple problems with any of these: clutter...