Estate and Elder Law

Recent Posts

Florida Land Records Being Checked for Unreported Gifts
Posted on 31 May 2011 by Marc J. Soss

To the surprise of many, the Internal Revenue Service has a low-profile sweeping effort under way to use state land-transfer records for evidence of omissions in reporting gifts of real estate to family members. While the new tax rules have made big gifts... Read More

Gifts of Real Estate really are Gifts - and the IRS is looking for them
Posted on 8 Jun 2011 by Deirdre R. Wheatley-Liss

Typical scenario - Client's child comes in and advises " Oh - and I own (all or part of) my parents' house. " For some reason the fact that they own another parcel of real estate is normally an afterthought. This leads to more questions... Read More

Gifts of Real Estate really are Gifts - and the IRS is looking for them
Posted on 8 Jun 2011 by Deirdre R. Wheatley-Liss

Typical scenario - Client's child comes in and advises " Oh - and I own (all or part of) my parents' house. " For some reason the fact that they own another parcel of real estate is normally an afterthought. This leads to more questions... Read More

Florida Land Records Being Checked for Unreported Gifts
Posted on 31 May 2011 by Marc J. Soss

To the surprise of many, the Internal Revenue Service has a low-profile sweeping effort under way to use state land-transfer records for evidence of omissions in reporting gifts of real estate to family members. While the new tax rules have made big gifts... Read More

Dedon On Estate Planning: 2015 Exemption - $5,430,000
Posted on 27 Feb 2015 by John Dedon

The IRS announced inflation adjustment tax items for 2015. Of interest on the estate and gift side, the annual exclusion remains at $14,000. However, the exclusion amount for taxpayers dying in 2015 increased from $5,340,000 to $5,430,000. Thus, a married... Read More

Hold your Horses on Filing those Income Tax Returns
Posted on 29 Dec 2010 by Deirdre R. Wheatley-Liss

Are you an early filer? You know the one. You get all your tax papers by February 3, you file on-line by February 4, and get your refund deposited by February 11? Well, if you itemize , that quick time-line won't be happening this year . Steven A... Read More

Elaine Gagliardi on Proposed Treasury Regulations Clarifying I.R.C. Section 1022 Carryover Basis Rules
Posted on 28 Jul 2015 by LexisNexis Legal Newsroom Staff

By Elaine Gagliardi Proposed treasury regulations have been promulgated to clarify the interaction of the I.R.C. Section 1022 carryover basis rules with other sections of the Internal Revenue Code. In this Emerging Issues Analysis, Elaine Gagliardi... Read More

John Dedon on Estate Planning: Good news on Estate Tax Exemption
Posted on 3 Nov 2015 by John Dedon

The IRS recently announced the inflation adjusted figures for gift and estate tax exemption amounts for 2016. The annual exclusion amount remains at $14,000. That is the amount that can be gifted to US citizens each year without eroding the per person... Read More