News

Portability has been part of federal estate tax law since 2011. The portability election allows a de[..]

Many trustees employ counsel to provide advice on dealing with and responding to inquiries from beneficiaries. Trustees may believe that their communications with and advice from counsel are confidential and cannot be disclosed to the beneficiaries without their consent. The recent court decision in Fiduciary Trust International of California v. Klein (2017) 9 Cal. App. 5th 1184 is a cautionary tale that warns trustees against assuming that all communications with an attorney are confidential.

The internet has brought many advances to our lives. The world wide web, emails, blogs, cloud computing, social media and other online accounts are a common way to communicate with family and friends, manage finances or operate a business.

The recent national election results have created uncertainty, some may say new hope, regarding the [..]

Owners of traditional Individual Retirement Accounts (IRAs) may use a special rule to achieve substantial income tax savings while benefiting charities of their choice. They may transfer up to $100,000 from their IRAs to charitable organizations without incurring income tax on the IRA withdrawal

Many IRA owners withdraw funds from their IRA accounts for short-term purposes. The owner then uses subsequent income to restore funds to the IRA. If the restored contribution is made within sixty days of the withdrawal, the withdrawal may be tax-free.