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Category Archives: Fiduciaries
Income Taxation of Nongrantor Trusts
Posted in Income Taxation of Nongrantor trusts, Income Taxation of Nongrantor trusts, Income Taxation of Nongrantor trusts, News
Tagged carry out DNI, complex trusts, distributable net income, distribution deduction, fiduciary accounting income, fiduciary income tax return, nongrantor trusts, simple trusts, subchapter j, taxation of trusts, tentative taxable income, tier one distributions, tier rules, tier two distributions, Trustee Commissions
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Challenging The Account of a Fiduciary
Trustees are entitled to compensation for serving in their fiduciary capacity. The trust may provide a fee schedule or may provide for a waiver of fiduciary fees. If the will is silent or provides for statutory commission, then reference should … Continue reading
Posted in Executor & Trustee Commissions, Executor and Trustee Commissions, Fiduciaries, Litigation
Tagged annual account to beneficiaries, delays in estate distribution NYS, Estate Litigation, executor commissions NYS, executor surcharges, matter of janes, nys, nys estate accountings, nys surrogates court, NYS trustee accountings, NYS trustee commissions, prudent investor standard, scpa 2309, trust litigation, trustee surcharges nys
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Tax News & Comment — May 2013
Posted in Asset Protection, Asset Protection Trusts, Criminal Penalties, Delaware Asset Protection Trusts, Divorce, Estate Litigation, Exclusion of Gain From Sale of Residence, Executor and Trustee Commissions, Federal Tax Litigation, Fiduciaries, Litigation, New York Criminal Tax, New York State Income Tax, NYS Dept. of Tax'n & Finance, NYS Penalties, NYS Tax Litigation, NYS Tax Litigation, Prenuptial Agreements, Property Transactions, Tax News & Comment, Treatises
Tagged categories of criminal tax fraud New York, constructive trust, equitable distribution new york, Executor Commissions, fiduciary commissions, IRS rulings, marital property, Medicare, new york criminal tax fraud, PLR 201310002, prenuptial agreement, separate property, Social Security, tax planning for divorce, treasury report on medicare and social security 2012, Trustee Commissions
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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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Analysis of 2012 Fiduciary Decisions in Surrogates Court
I. Constructive Trusts & Powers of Attorney. A “constructive trust” arises when equity intervenes to protect the rightful owner from the holder of legal title, where legal title was acquired through fraud, duress, undue influence, mistake, breach of fiduciary … Continue reading
Posted in Estate Litigation, Fiduciaries, Probate & Administration
Tagged constructive trusts, delay in trust distribution, EPTL 11-2.3[b]-2.3, Estate Litigation, fiduciary litigation, ny prudent investor act, probate, prudent investor act, prudent investor standard, trust distributions
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The Decedent’s Final Income Tax Return
A decedent’s final income tax return must be filed by the Executor by April 15 of the year following death. A joint return may be filed if the decedent’s spouse did not remarry during the year. If no Executor has been appointed by the due date of the return, a joint return must be filed by the surviving spouse. In that case, the later appointed Executor may revoke the surviving spouse’s election to file a joint return and file a separate return for the decedent’s estate within one year from the due date of the return, including extensions. Continue reading
Law Offices of David L. Silverman 
August Comment: NYS Estate, Gift & Trust Tax Update
I. Introduction A number of important changes to New York estate, trust and gift tax law were recently enacted. Briefly, (i) the New York estate tax exemption will reach parity with the federal exemption by 2019; (ii) the federal estate … Continue reading →