Curated by Hani Sarji
A financial steward of Nick Reiner’s $1.6 million trust fund argued in court papers that California’s “slayer statute” prevents Mr. Reiner from receiving that money to defend himself against charges that he murdered his parents. Mr. Reiner, the younger son of the Hollywood director Rob Reiner and Michele Singer Reiner, has pleaded not guilty and has taken l…
Read the original article →Lawyers spend a lot of time crafting engagement agreements. A good engagement agreement identifies the client, defines the work, explains fees, and sets expectations. But what about the matters you do not take? Those can create risk too. If someone believes you are representing them, or believes you are protecting their legal rights, a short intake call can…
Read the original article →The following is from the Fin CEN website: Today [August 11, 2026], the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (Fin CEN) is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to Fin CEN under the Corporate Transparency Act. The final rul…
Read the original article →After Jack Anderson died in 2015, an unexpected bill arrived. The state of Connecticut said his estate owed $13.2 million in estate and gift taxes. The executor of Anderson’s estate, a longtime family confidant named Les Daniels, disagreed. How could the estate be subject to these Connecticut taxes when his late friend’s official home was a 9,700-square-foo…
Read the original article →Simon Willison, with Cynthia Dunlop for her tech blogger interview series (from back in January, but he just got around to linking to it so I just got around to seeing it): Any lessons learned that you want to share with the community? My number one tip for blogging is to lower your standards! Aim to hit publish while you are still actively unhappy with wha…
Read the original article →In PLR 202632019, the IRS granted a real estate investment trust (REIT) and its newly formed subsidiary a 90-day extension to jointly file Form 8875 to elect taxable REIT subsidiary (TRS) status retroactively. The relief was granted after an administrative delay between the REIT and its accounting firm caused them to miss the standard 75-day filing deadline…
Read the original article →In PLR 202631002, the IRS approved a tax free corporate split up under sections 355 and 368(a)(1)(D) to divide an S corporation's operations among its shareholders. The ruling confirms that transferring assets to a newly formed qualified subchapter S subsidiary and distributing its stock to exit shareholders allows both resulting entities to maintain subcha…
Read the original article →In Piton Holdings, LLC v. Comm'r, the court examined Section 6662, which imposes a 20% penalty on tax underpayments resulting from negligence or valuation misstatements and increases to 40% for gross valuation misstatements. The decision underscored that while defenses like reasonable cause or adequate disclosure can mitigate standard understatement penalti…
Read the original article →I am pleased to share my latest article "Legacy by Design: Planning Considerations and Strategies for Fine Art and Collectibles." For many collectors, art is more than a financial asset - it carries personal, historical and emotional significance. Many thanks to Investments & Wealth Institute for the opportunity to contribute to this important conversation.…
Read the original article →Agentic AI can improve legal efficiency but poses significant risks like data corruption, errors, and security threats. Unlike generative AI, it acts autonomously, risking unintended changes and systemic mistakes. Companies must carefully manage deployment, monitor outputs, and ensure proper safeguards and insurance to avoid legal and operational problems.
Read the original article →Ian Edwards (Cape Cod Center for Sustainability) recently published Of This Trust: Fiduciary Prudence is Never Generic, 2026. Provided below is the Abstract: Trust law does not exercise prudence in the abstract. It exercises prudence in relation to the trust under administration. The familiar phrase “of the trust” repeatedly directs fiduciary judgment towar…
Read the original article →In PLR 202631001, the Internal Revenue Service allowed the trustee to trustee transfer of inherited traditional and Roth IRA assets from an estate to separate beneficiary IRAs without triggering taxable distributions or non qualifying rollovers. The IRS confirmed that dividing the non designated beneficiary IRAs pursuant to the decedent's will keeps the tax…
Read the original article →In PLR 202630004, the Internal Revenue Service granted a spouse a one hundred twenty day extension under section 2642(g) to allocate generation-skipping transfer tax exemption to multiple trust transfers across three tax years. The relief was approved after the taxpayers' tax preparers failed to advise them on generation-skipping tax consequences and mistak…
Read the original article →In PLR 202626005, the IRS granted a limited liability company (taxed as a corporation) a 60-day regulatory extension of time to elect not to be treated as a tax-exempt controlled entity under section 168(h)(6)(F)(ii) for Taxable Year 1. The IRS concluded that the taxpayer acted reasonably and in good faith after its tax advisor inadvertently omitted the nec…
Read the original article →NYC Pied a Terre Tax Exemption: Trusts, LLCs, Relatives, and Legal Planning Strategies What Is the NYC Pied a Terre Tax? New York City’s new […] The post NYC Pied a Terre Tax Exemption appeared first on Regina Kiperman, Esq., RK Law PC.
Read the original article →In New York estate litigation, beneficiaries generally do not have the authority to sue to recover assets on behalf of an estate. That responsibility ordinarily belongs to the executor or administrator. But when "extraordinary circumstances" exist, New York courts may allow estate beneficiaries to proceed with claims that would normally belong exclusively t…
Read the original article →