by Manish C. Bhatia | Oct 1, 2010 | News + Trends
The latest buzz from Washington does not include any resolution on the Estate Tax uncertainty for 2010 and beyond, but does suggest that two things appear to be likely: first, that the Estate Tax dilemma will not be resolved until after the November Congressional...
by Manish C. Bhatia | Oct 1, 2010 | News + Trends
A common question from clients is whether and when their existing Estate Planning documents should be reviewed. In the past, the answer was simple—documents should be reviewed when there is a significant change in your family or financial situation, but at least...
by Manish C. Bhatia | Sep 1, 2010 | News + Trends
The Crummey Notice takes its name from the 1968 decision in Crummey v. Commissioner, 397 F.2d 82, 88 (9th Cir. 1968) in which it was established that a gift in trust qualifies for the annual Gift Tax exclusion as long as the trust’s beneficiaries have the power to...
by Manish C. Bhatia | Sep 1, 2010 | News + Trends
As the end of the year quickly approaches, it is essential to recognize the importance of planned giving and its benefits for those with taxable or rapidly growing estates. This newsletter will discuss the opportunities available to reduce your taxable estate while...
by Manish C. Bhatia | Aug 1, 2010 | News + Trends
An individual who dies without a Will is referred to as dying intestate. Each state provides its own intestate succession law, which determines how the assets of a decedent who dies intestate will be distributed. Under Illinois’ intestate succession law (“Descent and...
by Manish C. Bhatia | Aug 1, 2010 | News + Trends
On July 2nd, President Obama signed into law a bill that extends the original homebuyer’s credit deadline for closing a sale. Previously, the law stated that the contract had to be entered into by the end of April 30th with the closing to take place by June 30, 2010. ...
