Monday, November 14, 2016

Bryan Cave’s Private Client Group was recently recognized by US News & World Report’s 2017 “Best Law Firms” as a “National Tier 1” practice in the Trusts and Estates category.

best-law-firms

Wednesday, October 19, 2016

The 7520 rate for November 2016 has remained at 1.6%.

The November 2016 Applicable Federal Interest Rates can be found here.

Tuesday, September 27, 2016

 

rs_1024x759-150709052426-1024-donald-trump-hillary-clinton-jr-70915_copy

 

Both presidential candidates have proposed changes to the estate tax regime.  Coming as a surprise to nobody, the proposals are quite different. (more…)

Thursday, September 22, 2016

 

8635181-background-concept-illustration-consumer-price-index-stock-illustration

Based on the Consumer Price Index for the 12-month period ending August 31, 2016, Thompson Reuters Checkpoint has released their projected inflation-adjusted Estate, Gift, GST tax, and other exclusion amounts for 2017, as follows: (more…)

Wednesday, September 14, 2016

8148105584_780ee9e2f6_b_1_

Effective September 2, 2016, the Internal Revenue Service formally put into place amendments to regulations that define who is married for tax purposes.   The new regulations finalize proposed regulations issued in 2015, with only a few minor changes.  The IRS Regulation states that it will interpret the term “husband and wife” as any two people who are married to each other, even if they are a same-sex couple. (more…)

Monday, August 15, 2016

 

divorce-jpg

In the recent decision, Pfannenstiehl v. Pfannenstiehl, the Massachusetts Judicial Supreme Court overruled the appeals court decision and concluded that assets held in a discretionary trust created by a third party, where the husband is but one potential beneficiary of the trust, is not a marital asset to be divided on divorce. (more…)

Monday, July 25, 2016

The 7520 rate for August 2016 has decreased to 1.4%.

The August 2016 Applicable Federal Interest Rates can be found here.

Monday, June 20, 2016

The 7520 rate for July 2016 has remained at 1.8%.

The July 2016 Applicable Federal Interest Rates can be found here.

Monday, June 13, 2016

Originally posted on the Bryan Cave Bankruptcy & Restructuring Blog, found here.

A recent decision out of a New Jersey Bankruptcy Court highlights a loophole in the Bankruptcy Code which may allow Chapter 7 debtors to keep significant assets out of the hands of trustees and creditors.

In In re Norris,[1] the Bankruptcy Court considered whether an inherited individual retirement account is property of the bankruptcy estate.  Prior to the Debtor filing her bankruptcy case, her stepmother passed away, leaving an inherited IRA naming the Debtor as the beneficiary.  In her amended schedules, the Debtor listed the inherited IRA, claiming it as fully exempt under 11 U.S.C. § 522(d)(12), but also claiming the inherited IRA was not property of the estate.[2]  The Chapter 7 Trustee objected to the exemption and requested the inherited IRA be deemed property of the bankruptcy estate. (more…)

Monday, May 23, 2016

The 7520 rate for June 2016 has remained at 1.8%.

The June 2016 Applicable Federal Interest Rates can be found here.