Our digital assets may be vulnerable to the Heartbleed bug

Think about how many things you do using the Internet. We surf the Internet for information using an Internet account. We buy merchandise online, and often set up an account using the merchant’s online order and payment service or perhaps using a service like PayPal to buy it. We do our banking or keep trackRead More

Big changes coming for tax-free rollovers


On January 28, 2014, in the case of Bobrow v. Commissioner, T.C. Memo 2014-21, the U.S. Tax Court issued a ruling regarding IRA rollovers that was quite unexpected because it was in direct conflict with IRS published guidance for taxpayers and a proposed regulation. An IRA rollover refers to the instance where a taxpayer receivesRead More

Special needs trusts and home ownership: A trustee’s concerns


Trust management can be burdensome. Balancing beneficiary needs, wants and concerns with laws and regulations is overwhelming. Special Needs Trusts can be even an even more challenging responsibility, especially when it comes to homeownership. Read the latest Special Needs Planning newsletter to better understand special needs trusts and what to consider when managing them.

Estate tax planning overview for 2014


As we mentioned last week there are still 2013 planning opportunities that can be accomplished in 2014. It’s also a good time to begin thinking about 2014 planning opportunities. For the first time in several years, the transition to a new year did not coincide with uncertainty or drastic changes in the tax law that will make long-term planning a speculative endeavor.

2013 tax planning still available


Happy New Year! The calendar says 2014, but there is still tax planning that can be accomplished for 2013 in traditional estate planning areas, like trusts and estates, retirement plans and charities. Below are a few actions you can take in 2014 to affect your 2013 taxes: We have talked in an earlier blog about the possibilityRead More

Tax planning opportunities for legally married same-sex couples


The Internal Revenue Service recently issued important guidance that will affect both transfer tax planning and income tax planning for same-sex couples.  In Revenue Ruling 2013-17, the IRS provided concrete answers to several questions that followed the Supreme Court’s ruling in Windsor v. United States. In Windsor, the Supreme Court held §3 of the DefenseRead More

Planning opportunities for the new 3.8% tax and trusts


In an earlier blog post, my colleague Leigh Kaylor provided a general overview of the mechanics of the new 3.8% tax on net investment income, which became applicable in 2013 as part of the Affordable Care Act.  The 3.8% tax on net investment income is not just applicable to individuals; the tax is also imposed on trusts.Read More