Wealth Management Update

January 2025 AFRs and 7520 Rate
 
In re Estate of Jesse L. Beck, 557 P.3d 1255 (Mont. Oct. 29, 2024) – Montana Supreme Court Holds That a Cell Phone Video Cannot Be Admitted to Probate
 
Memorial Hermann Accountable Care Organization v. Commissioner, 120 f.4th 215 (5th Cir. Oct. 28, 2024) – Fifth Circuit Does Not Apply Treasury Regulation, Illustrating the Effects of the Loper Bright Decision
 
In Re James A. Reed Trust, No. 366701 (Mich. CT. App. Nov. 14, 2024) – Michigan Court of Appeals Reforms Trust to Comport With the Settlor’s Intent
 
IQ Holdings, Inc. v. Commissioner, t.c. Memo. 2024-104 (Tax CT. Nov. 7, 2024) – Tax Court Disallows Charitable Deduction Due to Lack of Contemporaneous Written Acknowledgment
 
In Re Estate of William F. McLoughlin, 104 Mass. App. CT. 752 (App. CT. Sept. 30, 2024) – Massachusetts Appeals Court Finds That Providing an Affidavit in Support of an Action Contesting a Will Did Not Violate the Will’s in Terrorem Clause
 
Godoy v. Linzner, 106 cal.app.5th 765 (CT. App. Nov. 13, 2024) – California Court of Appeal Invalidates Amendment to Trust as a Restraint on Alienation
 
Will of Richard Feigen, No. 2021-1075 (N.Y. Sur. Ct. Westchester Cnty. Nov. 29, 2024) – Westchester County Surrogate's Court disqualifies attorney and law firm under the Advocate-Witness Rule

on January 2025

Wealth Management Update

December 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
 
Estate of Becker v. Commissioner of Internal Revenue, T.C. Memo 2024-89 (September 24, 2024)
 
Haan v. Haan, No. 364875 (Mich. Ct. App. Oct. 7, 2024)
 
IRS Postpones Deadline for States Impacted by Hurricanes
 
Florida Amendment 5 – Annual Inflation Adjustment for Homestead Exemption
 
Final Regulations on Consistent-Basis and Basis Reporting Issued
 
Lull v. Clark (In re Philpot Est.), No. 365107 (Mich. Ct. App. October 11, 2024)

on December 2024

Proskauer Announces 2024 Promotions Class

on November 1, 2024

Wealth Management Update

January 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
 
REG-142338-07 – Proposed Regulations Related to Donor Advised Funds
 
Eileen Gonzalez et al v. Luis O. Chiong et al (Sep. 19, 2023)
 
IR-2023-185 (Oct 5, 2023)
 
New York Public Health Law amended to permit remote witnesses for health care proxies (Nov 17, 2023)
 
Small Business Succession Planning Act Introduced (Oct 12, 2023)

on January 2024

Wealth Management Update

March 2023 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
 
In re Pasquale Storto, Jr. Trust, No. 360134, Mich. App. Lexis 268 (Jan. 12, 2023)
 
In re Dissolution of Doehler Dry Ingredient Solutions, LLC, C.A. No. 2022-03540-LWW (Sept. 15, 2022)
 
In re Estate of Raymond Joseph Frisbie, unpublished per curiam Mich. App. opinion 357831 (Nov. 17, 2022)

on March 2023