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Documents on Trusts And Estates, Real Estate
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|Low Energy Prices, Low Interest Rates, Rise in Federal Estate Tax Make Estate Freeze Transactions Attractive|
Steven Boutwell, Kyle C. McInnis; Kean Miller LLP;
March 17, 2015, previously published on March 10, 2015The recent downturn in energy prices has given consumers a welcomed break at the gasoline pump. The people producing the energy, however, from landowners, to oil companies, to oil field service providers, have felt the full negative effects of the steep price decline. Those producers are seeing...
|REITs Cautioned on Disclosure Practices OSC Publishes Results of Review on REIT Distribution Disclosure; Excess Distributions, Non-IFRS Metrics Among Key OSC Concerns|
Christopher J. Doucet, George Dube, Aaron E. Sonshine; Bennett Jones LLP;
February 24, 2015, previously published on January 28, 2015On January 26, 2015, the Ontario Securities Commission published OSC Staff Notice 51-724 - Report on Staff's Review of REIT Distributions Disclosure. The Report presented the findings of the OSC's recent review of the disclosure practices of 30 publicly-listed REITs, primarily in the area of...
|New West Virginia Law Enables Real Property to Pass to Beneficiary Without Probate|
Paul L. Hicks; Bowles Rice LLP;
October 22, 2014, previously published on May 8, 2014A new West Virginia law now enables real property to pass simply and directly to a beneficiary, without going through probate.
|Homesteads and the Law on Remainders|
Joseph W. Worthen; Rudolph Friedmann LLP;
May 13, 2014, previously published on May 2, 2014A recent decision by the US Bankruptcy Court has invalidated certain so-called “Homestead” protections in real estate that will likely affect many Massachusetts residents.
|I Am Not Rich So I Don’t Need a Will and Other Estate Planning Myths|
Donna Ray Berkelhammer; Sands Anderson PC;
March 27, 2014, previously published on March 24, 2014Many people draw up complicated estate plans to minimize the taxes they have to pay on their assets when they die. But people who are nowhere near the $5 million+ floor for estate taxes have very valuable reasons for having wills and trusts.
|What Are the House Ownership Options When Parents and Adult Children Live Together?|
Ryan W. Barry, Leah Mitchell McElmoyl, Dana B. Perry; Chambliss, Bahner & Stophel, P.C.;
March 18, 2014, previously published on March 2014Increasingly, several generations of American families are living together. According to a Pew Research Center analysis of U.S. Census data, more than 50 million Americans, or almost 17 percent of the population, live in households containing two adult generations. These multi-generational living...
|Transfer on Death Deeds: Additional Probate Avoidance Planning|
Philip L. Hatchett; Kaufman & Canoles A Professional Corporation;
March 17, 2014Effective July 1, 2013, the Virginia legislature adopted Virginia Code Sections 64.2-621, et seq. which authorized the creation of transfer-on-death (“TOD”) deeds. Under the new law, an owner of real property (identified as a “transferor”) may execute a TOD deed which will...
|IRS Guidance on Estate Tax Portability|
Bruce A. Rawls; Burr & Forman LLP;
February 11, 2014, previously published on February 5, 2014 The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 amended the Internal Revenue Code to allow the estate of a decedent who is survived by a spouse to make a "portability election" which allows the surviving spouse to apply the decedent's unused exemption...
|Wife's Undue Influence Over Changes Made to Husband's Trust Voids Changed Terms of the Trust|
Kronick Moskovitz Tiedemann Girard A Law Corporation;
January 31, 2014, previously published on January 24, 2014A California court of appeal affirmed a ruling voiding the terms of a trust after finding that there was ample evidence to support that the decedent's wife used undue influence over him to change the trust. The court held in Lintz v. Lintz (January 14, 2014) --- Cal.Rptr.3d ----, Cal.App. 6...
|Additional 3.8% Medicare Tax Imposed on Trust and Estate Income|
Hinshaw Culbertson LLP;
December 13, 2013, previously published on December 11, 2013Beginning in 2013, trusts and estates will be subject to an additional 3.8% Medicare tax on “net investment income” in excess of $11,950. Net investment income includes interest, dividends, rents (unless the trustee is actively participating in a real estate business), royalties,...