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- Executor and Trustee Commissions Under NY EPTL
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- Distributable Net Income and Income in Respect of a Decedent
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- New York's Revised Decanting Statute Under EPTL §10-6.6
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Category Archives: Trusts
Income Taxation of New York Trusts
Posted in Asset Protection Trusts, Estate Planning, Income Taxation of New York Trusts, New York State Income Tax, Treatises, Trustees, Trusts
Tagged asset protection trusts, Mercantile-Safe Deposit & Trust, new york estate tax, New York nonresident trust, New York Resident Trust, New York Source Income, New York Trust Taxation, new york trusts, Tax Law Section 605, Taylor v. New York State Tax Commission, TSB-M-09(5)
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Executor and Trustee Commissions Under NY EPTL
I. Executor Commissions. Executors and Trustees are entitled to compensation for serving in their fiduciary capacity. The will or trust may provide a fee schedule or may provide for a waiver of fiduciary fees. If the will is silent or … Continue reading
Posted in Executor & Trustee Commissions Under the EPTL, Executor and Trustee Commissions, Fiduciaries, Treatises, Trustees
Tagged Annual NY Trustee Commissions, Commissions based upon Money Paid Out, New York Executor Commissions, New York Trustee Commissions, NY Executor Commissions, NY Trustee Commissions, SCPA 2307, SCPA 2307(1), SCPA 2309(1), SCPA 2310, SCPA 2311
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IRS Ruling Provides Basis for Asset Protection Trust in Nevada
I. Tax & Asset Protection Benefits of PLR 201310002. New York imposes among the highest level of income tax of all states. New York City residents pay even more tax for the privilege of residing there. Income is taxed to … Continue reading
Posted in Asset Protection, Asset Protection Trusts, Delaware Asset Protection Trusts, Estate Planning, Trusts
Tagged asset protection trust, delaware trust, DING Trusts, grantor trust, IRC 674, IRC 677, irs, nevada trust, new york resident trust PLR 201310002, NING Trusts, Tax Law 605(b)(3)(D)(i)
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Elder Law Planning: Deciphering the Puzzle
View in PDF: Tax News & Comment — February 2013 Elder Law Planning: Deciphering the Puzzle I. Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading
Posted in Asset Protection, Trusts
Tagged Elder Law, EPTL 7-1.12, estate attorney, Medicaid, Medicaid Eligibility, Medicaid Exempt Assets, Medicaid Surtax, Medicaid Trusts, Medicare, Medicare Part A, Medicare Part B, Medicare Part C, Medicare Part D, Medigap, National Health Care, Recovery from Estate, Social Security, Special Needs Trusts, tax attorney, tax lawyer, Third Party Special Needs Trusts
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New York’s Revised Decanting Statute Under EPTL §10-6.6
View Article in PDF: New York’s Revised Decanting Statute Under EPTL §10-6-6 ESTATE PLANNING MEMORANDUM DATE: October 10, 2012 RE: New York’s Revised Decanting Statute Under EPTL §10-6-6 Under the Uniform Trust Code and EPTL §10-6.6, a noncharitable irrevocable … Continue reading
Posted in Decanting, Decanting, Estate Planning, Treatises, Trusts
Tagged changing trust situs, consolidate trusts, decanting new york trusts, eptl 10-6.6, EPTL 10-6.6(b), estate tax decanting, extend trust termination date, income tax decanting, modify trustee provisions, New York decanting statute, tax implications of decanting
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Tax and Non-Tax Issues Involving Irrevocable Trusts
View Article in PDF in Tax News & Comment — October 2012 TAX AND NON-TAX ISSUES INVOLVING IRREVOCABLE TRUSTS I. Introduction Prior to the Statute of Wills, enacted by Parliament in 1540, it was impossible for a landowner to devise … Continue reading
Posted in Estate Planning, Federal Income Tax, Trusts
Tagged Ascertainable standard, asset protection, asset protection trusts, Chancery Courts, eptl 10-6.6, estate planning, health education and maintenance, Irrevocable trusts, irs notice 2011-11, New York decanting statute, spendthrift trusts, Statute of Wills, trust decanting, Trustee Discretion
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Tax News & Comment — May 2013