LexisNexis® Legal Newsroom
Liza Weiman Hanks
Ask Liza: Reporting Foreign Gifts

Dear Liza: Does a person receiving a gift from a sibling in another country have to pay gift tax on that gift in the United States? In the United States, gifts are not considered ordinary income, so you don’t have to report them or pay income tax...

Diane L. Mutolo
Estates and Trusts and Final Regs Under IRC Section 1411

Basics of the Ner Investment Income Tax. The Net Investment Income Tax (NIIT) is imposed by I.R.C. Section 1411. The NIIT applies at a rate of 3.8 percent to certain net investment income of individuals, estates, and trusts that have income above the...

Liza Weiman Hanks
Ask Liza: Capital Gains Taxes on Appreciated Property

Dear Liza: My mother gave her house to my sister just before she passed away. My sister is going to sell the house. Do we have to pay taxes on that? If your mother’s house had appreciated in value between the time your mother purchased it, and her...

John Dedon
Dedon on Estate Planning: Pets and Estate Planning

Bella - A Tribute | Anyone who has not felt the sadness and loss from the death of a pet either has never owned a pet or is devoid of humanity. My three pound Yorkie, Bella (technically, my daughter's dog, but you know how that works), had neurological...

David A. Shulman
David Shulman on Estate Planning: Facebook Allows Users to Designate a ‘Legacy Contact’ to Manage Their Account After Death

Finally. For those who have been following, the issue of “digital assets” is a fast developing problem in the estate planning world. Putting aside for a moment who has the right to “inherit” your assets, the bigger problem with...

Liza Weiman Hanks
Ask Liza: How To Store That Estate Plan

Dear Liza: I’ve just completed my estate planning documents using the latest edition of WillMaker Plus, including the will, health care documents, power of attorney, final arrangements, etc. I think all totaled it comes to over 65 pages. I’d...