Probate & Estate Planning

The National Archives and Records Administration (NARA) has partnered with Ancestry to digitize tens of millions of historical records, significantly expanding public access to these documents. This agreement, described as the largest archive collaboration for Ancestry to date, involves digitizing…
Continue Reading National Archives and Ancestry team up to digitize millions of records

The justices are scrutinizing the broader implications of their ruling. A decision against the MRT could significantly impact not only this specific tax but also future legislative efforts to impose wealth taxes on unrealized gains. Both conservative and liberal justices have expressed skepticism about completely dismantling the MRT, yet they also appear wary of granting the government unrestricted power to define and tax income in ways that could open the door to new forms of taxation, including a wealth tax.
The debate has intensified due to the potential financial and policy repercussions. Should the Court strike down the MRT, it
Continue Reading Supreme Court upholds Trump-era tax provision on offshore earnings

The U.S. Treasury Department has announced a new plan to close tax loopholes exploited by large partnerships, as part of broader efforts to ensure that wealthy individuals and large corporations pay their fair share of taxes. This initiative follows findings…
Continue Reading Treasury, IRS unveil plan to close ‘major tax loophole’ used by large partnerships

Tony Bennett’s family is entangled in a legal battle over control of his estate following the singer’s death in July 2023. His widow, Susan Benedetto, who was married to Bennett for over 15 years, is facing a lawsuit from Bennett’s…
Continue Reading Tony Bennett’s daughters sue their siblings, alleging they’re mishandling the singer’s family trust

Mary C. Wood (University of Oregon – School of Law) recently published, Sky Carbon Cleanup and Biodiversity Restoration: Devising Regional Frameworks, 2024. Provided below is an Abstract: Professor Wood’s Article proposes Regional Frameworks aimed at organizing the land-based, natural climate…
Continue Reading Article: Sky Carbon Cleanup and Biodiversity Restoration: Devising Regional Frameworks

Real estate investors would be wise to take steps to limit their liability and protect each individual investment property. There are real risks associated with real estate investing, no matter how cautiously you plan your projects and how carefully you select the properties you buy. A single high-dollar lawsuit can collapse a budding real estate empire in the absence of proper legal structuring. One way to limit your risk is to create a series LLC in conjunction with a series of land trusts. Structuring these entities properly can be legally complex, so you must work with an experienced Yorkville, IL
Continue Reading How Land Trusts and Series LLCs Work Together

John Mee (University College Cork) recently published, Intra-family Wealth Transfers: The Presumption or the ‘Presumption’ of Advancement?, 2024. Provided below is an Abstract:
This article examines persistent suggestions in the Australian courts, most recently in Bosanac v Commissioner of Taxation [2022] HCA 34, that the presumption of advancement ‘is not really a presumption at all’ and is merely ‘a circumstance of fact in which the presumption of resulting trust does not arise’. The article analyses in turn three possible bases for denying that the presumption of advancement is a true presumption. The first approach, advocated by Professor Jamie Glister,
Continue Reading Article: Intra-family Wealth Transfers: The Presumption or the ‘Presumption’ of Advancement?

Adam S. Hofri-Winogradow (Peter A. Allard School of Law, the University of British Columbia) recently published, The Legal Structure of the Ha’avara (Transfer) Agreement: Design and Operation, 2024. Provided below is an Abstract: This chapter describes the “Ha’avara”, a sophisticated…
Continue Reading Article: The Legal Structure of the Ha’avara (Transfer) Agreement: Design and Operation

Timothy M. Todd (Liberty University – School of Law) and Philip Manns (Liberty University – School of Law) recently published, Seeing Through the Sleight of Hand: Estate Tax Consequences of Redeeming Stock With Life Insurance Proceeds, 2024. Provided below is…
Continue Reading Article: Seeing Through the Sleight of Hand: Estate Tax Consequences of Redeeming Stock With Life Insurance Proceeds