by Manish C. Bhatia | Dec 1, 2010 | News + Trends
One of the primary techniques used to reduce a person’s taxable estate is for him or her to make gifts during life to other individuals, usually children or grandchildren, using the annual gift tax exemption ($14,000 in 2014). An individual can make a gift of up to...
by Manish C. Bhatia | Nov 1, 2010 | News + Trends
As reported in Newsletter #1, in John W. Fisher and Janice B. Fisher v. United States of America (March 11, 2010), the U.S. District Court of Indiana held that the interests in Good Harbor Partners, LLC, the Fisher’s limited liability company, gifted by the Fishers to...
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
With the Federal estate tax legislation stalled, Senator Robert Casey (D-PA) has added a provision to the “Extend COBRA Premium Assistance Program Act of 2010” to require a minimum 10-year term for Grantor Retained Annuity Trusts (GRATs). The bill was referred to the...
