Gerry W. Beyer

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Sunday, July 13, 2025

Wealthy Buyers Find Comfort in Private Auctions

More wealthy art collectors are turning to private auctions instead of traditional public sales. These invitation-only events offer them greater privacy, flexibility, and a more personalized experience. Collectors often prefer avoiding the public attention that comes with open bidding and feel more at ease negotiating deals behind closed doors.
Major auction houses like Sotheby’s and Christie’s have started offering more private sales to meet this demand. These events allow buyers to view and purchase high-end artwork in exclusive settings, often at their own pace. The goal is to build
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Thursday, July 10, 2025

Liechtenstein hit by Russia-linked ‘zombie trust’ crisis

Liechtenstein is facing a crisis involving hundreds of “zombie trusts,” financial entities that are legally still active but have no one managing them. These trusts, many linked to wealthy Russians, have been left in limbo after directors and managers resigned en masse due to pressure from U.S. sanctions related to Russia’s invasion of Ukraine.
Although Liechtenstein adopted European Union sanctions, recent U.S. actions went further, warning financial institutions they could face penalties for working with certain Russian clients, even if those clients aren’t officially sanctioned. As a result, Liechtenstein’s
Continue Reading Liechtenstein hit by Russia-linked ‘zombie trust’ crisis

Tuesday, July 8, 2025

KPMG reports: Tax subtitle for “One Big Beautiful Bill”

The House of Representatives on May 22, 2025, passed H.R. 1 (House bill), the budget reconciliation bill known as the “One Big Beautiful Bill” (read TaxNewsFlash). On July 1, 2025, the Senate passed its version of H.R. 1 (Senate bill), which made various amendments to the bill, including changes to the tax subtitle that was included in the House bill (read TaxNewsFlash). On July 3, 2025, the House passed the Senate bill without amendment, and the bill was signed into law by President
Continue Reading KPMG reports: Tax subtitle for “One Big Beautiful Bill”

Monday, July 7, 2025

Last Word: The Rise of Emoji-Based Litigation: When a Winky Face Lands You in Court

Once reserved for lighthearted texts and social media posts, emojis have taken on a far more serious role in recent years. Judges and juries now confront the interpretive challenges of these tiny symbols. As emoji use explodes in personal and professional communication, emoji-based litigation is rising along with it—raising fundamental questions about intent, ambiguity, and the evolution of language in law.
For example, in Lightstone RE LLC v. Zinntex LLC, [2022] N.Y. Slip Op 32931 (N.Y. Sup. Ct. Kings Cty. 2022),
Continue Reading Last Word: The Rise of Emoji-Based Litigation: When a Winky Face Lands You in Court

Like many ordinary individuals, celebrities often fail to update outdated estate plans or ignore estate planning altogether. Even when a celebrity has done careful estate planning and has well-drafted documents, changes in family circumstances or in the tax laws can create unexpected results. When estate planning misfires occur, grieving family members can end up fighting with each other and with taxing authorities. The estate plans discussed in this article offer useful lessons to estate planners and laypersons alike. This article highlight numerous celebrities estate mishaps like Anne Heche, Lisa Marie Presley, Tupac Shakur, and Ivana Trump.
Complications arose following Anne
Continue Reading Celebrity Estate Planning: Misfires of the Rich and Famous VII

After Jimmy Buffett passed away in September 2023, his $275 million fortune, which includes songwriting royalties, real estate, yachts, airplanes, and a 20 percent stake in Margaritaville Holdings, was placed into a trust designed to support his widow, Jane, while…
Continue Reading Legal wrangling over estate of Jimmy Buffett turns his widow’s huge inheritance into a cautionary tale

Wednesday, July 2, 2025

Woman, 77, moves onto cruise ship permanently — says it’s cheaper than living in California

Last month, 77-year-old Sharon Lane moved out of her retirement village in Orange County, California, to embark on her dream adventure: A 15-year trip around the world. Lane invested in her own cabin on Villa Vie’s Odyssey, which bills itself as the first perpetual world cruise, with many of its passengers booking a “permanent home” on board.
Odyssey launched in October and is set to visit 147 countries and 425 destinations over a three-and-a-half-year cycle. The ship offers long-term living options,
Continue Reading Woman, 77, moves onto cruise ship permanently — says it’s cheaper than living in California

Warren Buffett has given away the biggest chunk of his fortune since he began distributing it in 2006. The soon-to-be-former CEO of Berkshire Hathaway has donated 12.36 million Berkshire Class B shares, worth $6 billion, to the Gates Foundation and…
Continue Reading Warren Buffett donates another $6 billion in Berkshire Hathaway shares—with the lion’s share going to the Gates Foundation

As Baby Boomers, the wealthiest generation in U.S. history, age, financial analysts are watching the so-called “Great Wealth Transfer,” a projected $124 trillion shift in assets over the next two decades. According to analysts, $105 trillion could go to heirs…
Continue Reading More Than $100 Trillion to Be Handed Down From Elderly to Heirs, Study Predicts