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New Elder Abuse Protections in New York State
Many incidents go unreported.A bill signed into law by Gov. Andrew Cuomo in September requires state agencies to create guidelines that will assist healthcare providers in identifying elder abuse.The...
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The Trust Beneficial Owner Register
Take measures now to ensure current and future compliance with new UK regulations.On June 26, 2017, the final version of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on...
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Educating Clients Before It’s Too Late
Thoughts on accomplishing a complex mission.It seems to me that this publication, as well as others, has recently started to place more emphasis on the “softer side” of the practice, by which I mean...
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Business as Unusual
Philanthropy and tax reform: The devil is in the details.From a philanthropic perspective, 2017 has been a year of “business as unusual.” The year began with the inauguration of a new administration...
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The World of IRAs
Its vastness was on display in 2017.Last year’s developments serve to remind planners what can go wrong—and what can go right with planning.Settlement ProceedsIn Ozimkoski v. Commissioner,1 Thomas W....
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Estate Planning Beyond the Grave…And Back
Help clients who are considering cryopreservation.Let me start by answering the questions that I get asked most often when I start talking about cryonics—yes, Ted Williams was cryopreserved; no, Walt...
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The Winter of our Discontent?
The big freeze on regulations and the cold front affecting valuation issues.Gridlock continued in Washington throughout most of last year. On inauguration day, the new administration put a freeze on...
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The State of the States: 2017
An update on key planning developments.State legislatures have been very busy on a number of trust- and estate-related fronts. Here’s an update on some key planning developments across the country,...
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Which Trust Situs is Best in 2018?
An updated ranking matrix, taking into account the possibility of estate tax repeal.In our view, the four top-tier jurisdictions for 2018 (listed by the year they adopted their Rule Against...
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Tax Year In Review 2017
Highlights of important new developments from what was an interesting year in the estate planning realm, to say the least.AttorneysButler v. LeBouef*Gifts to a drafting attorney subject to additional...
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Federal, DC and Maryland Estate Tax Exemptions Increase for 2018
Residents will benefit even more if Congress passes proposed tax plan.Residents of the District of Columbia and Maryland will have the benefit of higher estate tax exemptions in 2018.1 Federal...
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Hugh Hefner’s Trust Instructs Heirs to Just Say No to Drugs and Alcohol
It also makes sure to disinherit any posthumously conceived children.Hugh Hefner, the late founder of Playboy, has always been vocal about his distaste for drugs and alcohol. It’s now been revealed...
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Educating Clients Before It’s Too Late
Thoughts on accomplishing a complex mission.It seems to me that this publication, as well as others, has recently started to place more emphasis on the “softer side” of the practice, by which I mean...
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Clawback Under New Tax Law
We can only speculate how the IRS will handle this issue.As recently as a little over five years ago, estate planners were facing the issue of how the Internal Revenue Service would handle the...
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IRS May Limit Ability to Deduct Property Tax Prepayments
What could this recent advisory mean for your clients?The Internal Revenue Service published guidance yesterday that may limit individuals’ ability to deduct prepayments in 2017 of real property tax...
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Health and Education in Trust Administration
Should trustees stick their fingers in the dam?For decades, attorneys and trustees have relied on the definition of “ascertainable distribution standards” in Internal Revenue Code Sections 2044 and...
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Leaving a Global Legacy
Settlor’s intent beyond borders.Families wishing to pass down wealth to future generations are increasingly turning to long-term trusts as a way to protect their assets and serve the needs of their...
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Premium Financing With Indexed Universal Life: Part II
Balance risks and rewards.Premium financing can be an attractive strategy to fund indexed universal life (IUL) policies. Let’s examine the rewards of a premium financing plan, use a model to analyze...
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Ten Misconceptions About Sexual Harassment
Don’t run afoul of the laws.Wherever you work, whether it’s at a law firm, family office, accounting firm or some other type of company, you need to make sure you don’t run afoul of the rules...
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Safeguarding Client Information
Legal ethics in a breach-a-day world.Confidential data in computers and information systems, including those used by attorneys and law firms, faces greater security threats today than ever before. And,...
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