Estate and Elder Law

Recent Posts

Diane L. Mutolo on the Reinstated Estate Tax’s Effect on Basis Rules and Estates of 2010 Decedents
Posted on 28 Mar 2011 by Diane L. Mutolo

The Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 reinstated the estate tax and stepped-up basis rules and repealed the modified carryover basis rules for the estates of decedents dying in 2010. In this Emerging Issues... Read More

Finally a New Tax Law (For Now)
Posted on 3 Jan 2011 by Pepper Hamilton LLP Trusts and Estates Practice Gr

The long-awaited legislation concerning the estate, gift, and generation-skipping transfer taxes has been passed by both houses of Congress, and signed into law by the President. The legislation is known as the Tax Relief, Unemployment Insurance Reauthorization... Read More

Hirschson and Glasgow on Transfer Tax Planning for New York Couples
Posted on 28 Feb 2011 by Linda B. Hirschson & Elizabeth R. Glasgow

The 2010 Tax Act changes the landscape of gift, estate and generation-skipping transfer tax planning, at least until the new law is due to sunset at the end of 2012. For New Yorkers, however, the application of state estate tax law has to be considered... Read More

Bullivant Houser Bailey PC: Oregon Replaces Inheritance Tax with Estate Tax
Posted on 18 Jul 2011 by Bullivant Houser Bailey PC

By Darin Christensen On June 28, Governor Kitzhaber signed a bill that will replace Oregon's inheritance tax with an estate tax. The estate tax is similar to the former inheritance tax, but has several substantial differences and provides some... Read More

Asbury Law Firm: District Court: Estate Tax Marital Deduction Triggers Unconstitutional Ruling on DOMA
Posted on 18 Jun 2012 by Asbury Law Firm

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.... Read More

Continued Uncertainty Around IRC § 2511(c): Notice 2010-19 Provides Guidance But Unanswered Questions Remain
Posted on 1 Jun 2010 by Danielle T. Zaragoza

Upon repeal of the federal estate tax laws, many estate planners were forced to take a closer look at specific sections of the Internal Revenue Code affected by repeal. One provision that has received particular attention is section 2511(c) , which... Read More

Estate Tax, AMT, etc - Has Washington forgetten about the Other Taxes?
Posted on 6 Dec 2010 by Deirdre R. Wheatley-Liss

So Dem and GOP appear to all agree to extend this years income tax rates to next year - avoiding a jump in income and capital gains taxes when the ball falls on New Years Eve. This has been greeted with great fanfare in the press and an apparent sigh... Read More

Tags: Estate Tax , Taxes

Ask Liza: Probate for U.S. Assets; Estate Tax for Non-Resident Aliens
Posted on 12 Mar 2013 by Liza Weiman Hanks

Dear Liza: My brother and I are dual citizens (Japan and US). We both reside in the US. Our Japanese mother recently passed away. She had some cash/ stock/ annuities/ mutual funds in the US, and some property in Japan that we will inherit jointly, with... Read More

Ask Liza: Should We Create a Living Trust?
Posted on 10 Dec 2015 by Liza Weiman Hanks

Dear Liza: We are a married couple in our early and mid 30s with a one year old son living in Southern California. I have been looking at setting up a trust and/or will for our little family but not sure what is needed in our scenario. My husband and... Read More

Estate Tax Mindmap - Pros and Cons
Posted on 28 Sep 2010 by Travis Burchart

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... Read More

Proposed Estate Tax Legislation Contains some Generous Surprises
Posted on 14 Dec 2010 by Deirdre R. Wheatley-Liss

The new estate tax legislation proposed by Sen. Reid (D. NV) contains some pleasant surprises for wealthier Individuals. First, as expected, it proposes to raise the estate tax exemption amount to $5 million per person with a maximum 35% estate tax... Read More

Tags: Estate Tax

Estate Tax Update - A Choice of Tax Law to apply for deaths in 2010
Posted on 9 Dec 2010 by Deirdre R. Wheatley-Liss

The Wall Street Journal reports that the Senate is sending out legislation to allow estates of people who died in 2010 to choose EITHER the 2010 1022 basis election OR the 2011 estate tax laws, which are currently proposed to be a $5 million exemption... Read More

Tags: Estate Tax

IRS Offers Filing and Penalty Relief for 2010 Estates
Posted on 15 Sep 2011 by Gregory Herman-Giddens

IR-2011-91 (emphasis added): WASHINGTON - The Internal Revenue Service announced today that large estates of people who died in 2010 will have until early next year to file various required returns and pay any estate taxes due. In addition, the... Read More

Tags: Estate Tax

Spouse vs. Charity: Estate Tax Apportionment
Posted on 14 May 2013 by John G. Farinacci

By John G. Farinacci, Esq. Ruskin Moscou Faltischek, P.C. We know that estate taxes are to be paid in the manner of a testator's choosing, but if the testator fails to make that choice, then estate taxes are "equitably apportioned among... Read More

Some States Provide a Fix for Deaths in 2010
Posted on 12 May 2010 by Deirdre R. Wheatley-Liss

Now that May of 2010 is upon us and there is still no federal estate tax finality, we can begin to look at the situations that families are facing where loved ones have passed since January 1. A key issue is that their estate planning documents (wills... Read More