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Tag Archives: Delaware Asset Protection Trust
Taxation of Grantor Trusts
Posted in Delaware Asset Protection Trusts, Grantor Trust Treatise, Grantor Trusts, Grantor Trusts, News, Treatises, Trusts
Tagged administrative powers, adverse party, asset protection trusts, beneficial enjoyment, beneficial owner, compliance issues grantor trusts, Delaware Asset Protection Trust, estate planning, fiduciary accounting income, fiduciary income, grantor trusts, IRC 671, irc 672, irc 673, IRC 674, irc 675, irc 676, IRC 677, irc 678, mallinckrodt trusts, nevada asset protection trust, nonadverse party, nongrantor trusts, plr 200131002, power to control beneficial interest, reporting grantor trust income, substitution powers, table income of trust
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Peering Through the Legal Prism: When Asset Protection Becomes Fraudulent
VIEW IN PDF: Tax News & Comment — August 2011 I. Introduction English law addressing fraudulent conveyances dates back to the early Middle Ages. The first comprehensive attempt to prohibit such transfers appeared in the Fraudulent Conveyances Act of 1571, … Continue reading
Tax News & Comment — May 2013
Tax News & Comment — May 2013
Posted in Tax News & Comment
Tagged applicable exclusion amount, credit shelter trust, Delaware Asset Protection Trust, estate planning, estate tax, gift tax, gross estate, GST, probate, tax appeals tribunal, tax lawyer, tax legislation, tax planning
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Tax News & Comment — October 2012
View in PDF: Tax News & Comment — October 2012
Tax News & Comment — October 2012
View in PDF: Tax News & Comment — October 2012
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, carryover basis, Congress, credit shelter trust, Delaware Asset Protection Trust, division of tax appeals, estate attorney, estate planning, estate tax, form 709, gift tax, gross estate, GST, income tax, Obama taxes, surviving spouse, tax appeals tribunal, tax attorney, tax lawyer, tax legislation, tax planning
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2011 Tax and Estate Planning Decisions of Note
A. Issues Arising Under IRC §2036 An important objective in estate tax planning is to transfer of assets out of one’s taxable estate, while retaining a degree of beneficial enjoyment over the transferred property. Where the IRS believes too much … Continue reading
Tax News & Comment — February 2012
Tax News & Comment — February 2012
Posted in Tax News & Comment
Tagged applicable exclusion amount, asset protection, asset protection trusts, credit shelter trust, Delaware Asset Protection Trust, estate planning, gift tax, probate, QTIP election, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Peering Through the Legal Prism: When Asset Protection Becomes Fraudulent
VIEW IN PDF: Tax News & Comment — August 2011 I. Introduction English law addressing fraudulent conveyances dates back to the early Middle Ages. The first comprehensive attempt to prohibit such transfers appeared in the Fraudulent Conveyances Act of 1571, … Continue reading
Posted in Asset Protection
Tagged asset protection, asset protection trusts, bankruptcy, bankruptcy exempt, bequests, decedent's will, Delaware Asset Protection Trust, devises, elective share, estate planning, estate tax, fraudulent conveyance, gross estate, holographic will, insolvency, intestacy, intestate, last will and testament, marital deduction, New York Surrogates Court, probate, tax planning, will, will formalitiers
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Peering Through the Legal Prism: When Asset Protection Becomes Fraudulent
VIEW IN PDF: Tax News & Comment — August 2011 I. Introduction English law addressing fraudulent conveyances dates back to the early Middle Ages. The first comprehensive attempt to prohibit such transfers appeared in the Fraudulent Conveyances Act of 1571, … Continue reading
Differing Tax Visions of President Obama and Governor Romney
Much has been made of the recent revelation that Governor Romney enjoyed a 14 percent tax rate on “carried interest,” which Congress permits to be reported as capital gain. Investors such as Mr. Romney pay a lower rate of tax … Continue reading
Posted in From Washington, Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, audit, carryover basis, completed gift, Congress, credit shelter trust, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate planning, estate tax, gift tax, gross estate, ILIT, income tax, irs
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Tax News & Comment — April 2011
View Issue: Tax News & Comment — April 2011 pril 14, 2011 I. ESTATE TAX RETURNS Calculation and remittance of federal and NYS estate tax is of primary concern in administering an estate. An estate tax return must be filed … Continue reading
Posted in Tax News & Comment
Tagged 1031, applicable exclusion amount, asset protection, asset protection trusts, audit, carryover basis, completed gift, Congress, credit shelter trust, Delaware Asset Protection Trust, disclaimers, division of tax appeals, estate planning, estate tax, form 709, gift, gift tax, gross estate, GST, ILIT, irs, like kind exchange, new york estate tax, probate, QTIP, QTIP election, qualified intermediary, statute of limitations, surviving spouse, tax appeals tribunal, tax legislation, treasury, valuation discount
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Tax News & Comment — June, 2010
To view full issue: Tax News & Comment — June, 2010 To View Full Issue: Tax News & Comment — June, 2010 The June, 2010 issue of Tax News & Comment, in “From Washington,” discusses the new $56 billion tax … Continue reading
Posted in Tax News & Comment
Tagged applicable exclusion amount, asset protection, asset protection trusts, carryover basis, completed gift, Delaware Asset Protection Trust, estate planning, estate tax, form 709, gift tax, gross estate, GST, irs, marital deduction, probate, QTIP, QTIP election, qualified intermediary, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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Marital Deduction Planning
PDF: Marital Deduction Planning.wpd I. Review of Current Wills The estate tax will resume no later than January 1, 2011. At that time, the exemption amount may be $1 million (if Congress fails to do anything), or it could … Continue reading
Posted in Estate Planning, Marital Deduction
Tagged applicable exclusion amount, asset protection, asset protection trusts, Delaware Asset Protection Trust, estate planning, estate tax, gift tax, gross estate, GST, marital deduction, surviving spouse, tax appeals tribunal, tax legislation, tax planning
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DELAWARE ASSET PROTECTION TRUSTS ECLIPSE OFFSHORE ENTITIES
EPTL § 7-1.3 provides in stark language that “[a] disposition in trust for the use of the creator is void as against the existing or subsequent creditors of the creator.” This prohibition against self settled spendthrift trusts has led some New York residents to create asset protection trusts in exotic places such as the Cayman or Cook Islands, or in less exotic ones, such as Bermuda or Switzerland. Continue reading
Tax News & Comment — October 2013