Wednesday, March 26, 2014

474603253It’s that time of the year again…tax time! Like it or not, when tax season rolls around it is time for most Americans to add “do taxes” to the “to do” list. Chances are you have already started gathering the documents that you or your accountant will need to complete your income tax return. Or, if you are ahead of the game, your income tax return is already filed and your refund (if you are lucky) is in your pocket. (more…)

Monday, March 24, 2014

KKFIrvine Partner, Renee Gabbard, is being honored on March 27, 2014 with an Award for Excellence in Public Service at the Chapman University Fowler School of Law’s Public Interest Law Foundation (PILF) 2014 Silent Auction and Gala.  The Silent Auction and Gala honors the dedicated work of its students and community leaders in public interest law.  Proceeds from the dinner and auction will support PILF’s public interest summer jobs grant program. (more…)

Friday, March 21, 2014

The 7520 rate for April has stayed steady at 2.2%.

The April 2014 Applicable Federal Interest Rates can be found here.

Friday, March 14, 2014

The term March Madness may take on new significance to New Yorkers this year. In addition to contributing to NCAA pools, New Yorkers should consider making gifts this month. Following up on prior blog post, New Yorkers may have a very small window of opportunity to take advantage of gifting significant sums of money prior to April 1, 2014. Currently New York State has no gift tax. New Yorkers can make gifts of any size to anyone without incurring any New York gift tax consequences at all. However, the gift and estate tax rules may change shortly. Governor Cuomo has proposed a change to New York’s estate and gift tax law that will require all taxable gifts made by a New York resident after March 31, 2014 to be included as part of the gross estate for purposes of calculating the New York estate tax. However, the proposal would not apply to gifts made prior to April 1, 2014. (more…)

Thursday, March 13, 2014

Kathleen Sherby in our St. Louis office has been elected president of the American College of Trust and Estate Counsel (ACTEC), effective March 8. Kathy’s election as president is an honor that recognizes her reputation as one of the country’s preeminent estate planning attorneys. She most recently served as president-elect of the organization. The American College of Trust and Estate Counsel is a national organization of approximately 2,600 lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. Kathy is a partner in our Private Client Group and co-leader of the Fiduciary Litigation Team.

Tuesday, March 4, 2014

The Internal Revenue Service has posted final instructions to Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, to its website. (more…)

Monday, March 3, 2014

Originally posted on bryancavefiduciarylitigation.com

Knowing when to initiate guardianship proceedings for a loved one can be a difficult and personal decision.  When it comes to substance abuse, those proceedings can enter a grayer area than proceedings involving dementia, injury, or developmental disability.  At what point is an addict or alcoholic incapacitated?  What happens during moments of sobriety?  In In re Guardianship of Esterly (unpublished), the Court of Appeals of Minnesota dealt with some of these difficult questions. (more…)