In a move that wealthier taxpayers and their financial advisors will welcome, the Internal Revenue Service announced inflation-adjusted increases to both the estate and gift tax exemptions for 2025, as well as a higher standard deduction and new income tax…
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Family demands answers after organs nearly taken from living man
A Kentucky man, Anthony “TJ” Hoover, was mistakenly declared brain dead in 2021 and nearly had his organs harvested before showing signs of life. Family members and a surgical preservation coordinator, Nyckoletta Martin, discovered he was awake and responsive, raising…
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US states with the highest divorce rates revealed in new study — is yours on the list?
Attorneys theorize that “long, harsh winters and limited daylight hours may contribute to seasonal depression and put strain on relationships” in the sparsely populated state. “For couples in remote locations, do seek support even if in-person resources are limited,” Deepa…
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Private forums show Canadian doctors struggle with euthanizing vulnerable patients
The Associated Press investigated Canada’s euthanasia system, revealing a complex ethical landscape faced by healthcare providers in cases that involve nonterminal suffering. Individuals requesting euthanasia include a homeless man, a severely obese woman, and an injured worker, all of whom…
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Inserting Photos in Wills to Clarify Specific Gifts
Here is a link to an ACTEC Trust & Estate podcast entitled Inserting Photos in Wills to Clarify Specific Gifts. Here is the text of the introduction to the podcast: Clients pass along important family heirlooms as part of their…
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Article: Integration of Taxes on Inheritances, Estates and Gifts into the OECD Model Tax Convention on Income and on Capital: The Curious Case of Special Provisions – Part 2
Jan Karol Szczepański (Independent) recently publishes, Integration of Taxes on Inheritances, Estates and Gifts into the OECD Model Tax Convention on Income and on Capital: The Curious Case of Special Provisions – Part 2, 2019. Provided below is an Abstract:…
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Selling Real Estate on Behalf of Your Aging Parents in Illinois
As our parents age, unique circumstances may require that the family make the difficult decision to sell their home. If your parents are over 60 and they have decided to sell their home, they might turn to you for help. Likewise, in the event your parents are incapacitated, it may fall to a member of the family or to you to sell the home.
There are unique personal, legal, and tax considerations that come into play when selling a home on behalf of a senior parent. An attorney experienced in real estate matters can advise you on some of the…
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Article: Japanese Taxation of Trusts
Yuya Suzuki recently published, Japanese Taxation of Trusts, 2024. Provided below is an Abstract: In this article, the author discusses some aspects of Japanese gift tax law with regard to foreign trusts, focusing on a recent Japanese court case. The…
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Newest Inductees into the Estate Planning Hall of Fame
I am pleased to announce that the following outstanding estate planning professionals were recently inducted into the Estate Planning Hall of Fame. The National Association of Estate Planners and Councils presents this award in recognition of distinguished service to the…
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Article: "Property" as Polyseme & Its Implications for Trust "Property"
Kelvin F.K. Low (The University of Hong Kong – Faculty of Law) recently published, “Property” as Polyseme & Its Implications for Trust “Property”, 2024. Provided below is an Abstract: The trust may be English law’s “greatest and most distinctive achievement…
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Article: The Comparative Law of Trusts and Succession: Italy, Japan, and Beyond This paper was originally published in Italian as Tamaruya Masayuki, Il diritto comparato dei trust e delle successioni: Italia, Giappone e oltre in Annuario di Diritto Compar
Masayuki Tamaruya (University of Tokyo) recently published, The Comparative Law of Trusts and Succession: Italy, Japan, and Beyond This paper was originally published in Italian as Tamaruya Masayuki, Il diritto comparato dei trust e delle successioni: Italia, Giappone e oltre…
Continue Reading Article: The Comparative Law of Trusts and Succession: Italy, Japan, and Beyond This paper was originally published in Italian as Tamaruya Masayuki, Il diritto comparato dei trust e delle successioni: Italia, Giappone e oltre in Annuario di Diritto Compar
The Use of AI-Based Technologies in Arbitrating Trust Disputes
Prof. Lee-ford Tritt (The James J. Freeland Eminent Scholar Chair in Federal Taxation, University of Florida College of Law) recently posted on SSRN his article entitled The Use of AI-Based Technologies in Arbitrating Trust Disputes. Here is the abstract of…
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The Curious Case of the James Brown Estate
Prof. Lee-ford Tritt (The James J. Freeland Eminent Scholar Chair in Federal Taxation, University of Florida College of Law) recently posted on SSRN his article entitled The Curious Case of the James Brown Estate. Here is the abstract of his…
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Article: Inheritance and Estate Taxes: Tax Treaties, Connecting Factors and Worldwide Liability
Andres Duran Preciado recently published, Inheritance and Estate Taxes: Tax Treaties, Connecting Factors and Worldwide Liability, 2024. Provided below is an Abstract: In this article, the author considers how tax treaties deal with the variety of connecting factors used to…
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Article: The Tax Treatment of Foreign Trusts and Foundations in Greece: Administrative Guidance Clarifies an "Opaque" Situation
Lydia-Elisavet Sofrona recently published, The Tax Treatment of Foreign Trusts and Foundations in Greece: Administrative Guidance Clarifies an “Opaque” Situation, 2024. Provided below is an Abstract: The author, in this article, examines the tax treatment of foreign trusts and foundations…
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Article: Structuring Foreign Investment in the United States
Jacob Stein recently published, Structuring Foreign Investment in the United States, 2024. Provided below is an Abstract: Inward US investment is typically motivated by the benefits of fiscal transparency, a well-developed political and legal system, economic stability, and the absence…
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