Estate and Elder Law

Recent Posts

Rufus Rhoades and Alexey Manasuev on Estate Tax Issues for Canadians Investing in U.S. Real Property
Posted on 29 Aug 2011 by Rufus v. Rhoades & Alexey Manasuev

Estate tax exposure is one area of structuring a U.S. real property investment that is frequently ignored by foreign individual investors. In this Analysis, Rufus v. Rhoades, Esq., co-author of the treatise Rhoades & Langer, U.S. International Taxation... Read More

The Right of a Decedent to Apportion Federal Estate Tax
Posted on 17 Jul 2012 by LexisNexis Estate and Elder Law Community Staff

By Prof. John H. Skarbnik In estate planning it is important to determine if the testator or transferor has the right to apportion the federal estate tax, and if so, the scope of that right. The testator's right to apportion the federal estate... Read More

Charitable Contributions and Transferred Water Rights
Posted on 26 Jul 2011 by LexisNexis Estate and Elder Law Community Staff

An Interpretation of the Internal Revenue Code and Treasury Regulations Supporting the Tax Deductibility of the Voluntary Charitable Contribution in Perpetuity of a Partial Interest in an Appropriative or Riparian Water Right Transferred Instream for... Read More

New York State - New and Proposed Legislation Affecting Trusts and Estates
Posted on 25 Jun 2014 by Linda Hirschson and Shifra Herzberg

In 2013, New York undertook a comprehensive review of the state's tax structure and made recommendations to improve and simplify the current tax system. This article discusses the findings of that review and the resulting legislation to implement... Read More

Tax Act's Portability Feature Lets Surviving Spouse Use Predeceased Spouse's Estate Tax Exemption
Posted on 1 Jun 2011 by LexisNexis Estate and Elder Law Community Staff

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the "2010 Act") enacted a "portability" feature; it lets a surviving spouse take advantage of any unused estate tax exemption of a predeceased spouse... Read More

Elaine Gagliardi on Determination of the Applicable Exclusion Amount
Posted on 13 Mar 2012 by Elaine Hightower Gagliardi

In this Analysis, Elaine Gagliardi discusses determination of the applicable exclusion amount available to estates of decedents dying in 2011 and 2012. In particular, Notice 2011-82 provides guidance as to how to preserve the deceased spousal unused... Read More

Duane Morris LLP: Federal Estate Tax Equality for Same-Sex Couples
Posted on 27 Jun 2012 by Duane Morris LLP

On June 6, 2012, in Windsor v. United States , U.S. District Judge Barbara Jones in the Southern District of New York granted summary judgment to Edith Windsor and created a precedent that is likely to positively affect same-sex married couples for years... Read More

Fulbright & Jaworski LLP: Tax Changes Effective as of January 1, 2012: Significant Implications For Estate Planning
Posted on 31 Jan 2012 by Norton Rose Fulbright

By Philip J. Michaels , Joseph C. Sleeth, Jr. , Stephanie E. Heilborn and Lindsay H. Brown Estate Tax The federal estate tax applicable exclusion amount increases from $5,000,000 to $5,120,000 per person for 2012. The... Read More

Morrison & Foerster LLP: IRC §1022 Basis Adjustment Rules for Property Owned by and Acquired from 2010 Decedents
Posted on 15 Nov 2011 by Morrison and Foerster LLP

By Richard S. Kinyon , Morrison & Foerster LLP Unless the executor of the estate of an individual who died in 2010 makes the Internal Revenue Code §1022 election, the estate is subject to the federal estate tax. If the executor makes the IRC... Read More

Estate and Gift Tax Alert
Posted on 25 Jan 2011 by Frankfurt Kurnit Klein & Selz

The Tax Relief Act of 2010 was overwhelmingly passed by Congress and signed into law by President Obama on December 17, 2010. The new law provides numerous tax benefits for businesses and individuals for the next two years, including: Continuing... Read More

Williams Mullen: Understanding Portability of Unused Spousal Exclusion: Avoiding the "sue" in DSUEA
Posted on 4 Oct 2011 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK Background to Portability. While the estate tax has been in force for many years, most estates have remained exempt from the tax due to an "applicable exclusion amount" that shelters... Read More

Morrison & Foerster LLP: Estate of Saunders and the Federal Estate Tax Treatment of Claims against a Decedent’s Estate
Posted on 2 Jun 2011 by Morrison and Foerster LLP

By Genevieve M. Moore , of Morrison & Foerster LLP The recent Tax Court case, Estate of Gertrude H. Saunders et al. v. Commissioner , 136 T.C. No 18 (April 28, 2011) [ enhanced version available to lexis.com subscribers ], serves as a good reminder... Read More

Changes To The Federal Estate, Gift and Generation-Skipping Transfer Taxes For 2011 And 2012
Posted on 25 Jan 2011 by Morrison and Foerster LLP

By Trusts, Estates & Nonprofit Organizations Group, Morrison & Foerster LLP On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Authorization Act ( H.R. 4853 , "the... Read More

Williams Mullen: IRS Provides Guidance on Procedures for Election Out of Estate Taxation and Filing Form 8939
Posted on 12 Aug 2011 by Williams Mullen

By John H. Turner, III & Jeffrey D. Chadwick Election Out of Estate Taxation and Filing Form 8939 Notice 2011-66 . On August 5th the Internal Revenue Service issued Notice 2011-66 , which provides long-awaited guidance on the procedures for... Read More

Williams Mullen: IRS Grants Extension of Time to Make Late Portability Election
Posted on 19 Mar 2012 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK In December 2010, Congress created a new right of "portability" between spouses,to remedy the circumstance in which spouses were unable or unwilling to engage in estate tax planning. For deaths... Read More