Last month, the IRS issued proposed regulations designed to close a tax loophole that has become indispensable to family owned businesses and their tax advisers.
Read MoreMichael Jackson is dead. The world agrees this is tragic. However, his estate’s war with the IRS is alive and well. But it too could end tragically for Jackson’s beneficiaries, along with beneficiaries of celebrity estates that increased in value after the death.
Read MoreIn the estate planning context, defective can be ideal. Selling property to an intentionally defective grantor trust (“IDGT”) has become one of the most popular estate planning methods available for transferring substantial wealth to heirs while avoiding the estate tax.
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