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Personal Wealth Advisors Blog

Blogs March 11, 2020 IRS Provides Filing Relief to Certain Foreign Trusts Providing Retirement, Medical, and Educational Benefits

A discussion of Revenue Procedure 2020-17, wherein the IRS has designed a procedure whereby certain U.S. persons having an interest in tax-favored foreign trusts established and operated exclusively or almost exclusively to provide pension or retirem…

Blogs February 03, 2020 Federal Reporting Rules for Cash Transactions in Excess of $10,000

An overview of the federal regulations requiring banks to report deposits and withdrawals of more than $10,000 to the IRS. Also includes the required turnaround time and penalties for failing to report.

Blogs January 22, 2020 A Sequel Much Worse Than the Original: Planning for GST Tax on Nonexempt Trusts

A discussion of planning for the generation skipping transfer (“GST”) tax on nonexempt trusts.

Blogs January 22, 2020 Creative Planning Techniques with Grantor and Non-Grantor Trusts

A discussion of who retains certain powers over the administration or benefits of property transferred to a trust and may be deemed to continue to be the owner of that property for income tax purposes under IRC Secs. 671 through 677.

Blogs January 21, 2020 Planning for Retirement Benefits After the SECURE Act

A discussion of the SECURE Act and it’s radical impact on estate planning, including eliminating the life expectancy payout and replacing it with a maximum ten-year post-death payout period for most retirement benefits.

Blogs January 20, 2020 Peripatetic Clients: No, It’s Not an Illness but They Need Your Constant Care

A discussion of state taxation issues including changing residency and domicile, incomplete nongrantor trusts, and the state income taxation of trusts after a recent decision by the United States Supreme Court.

Blogs January 20, 2020 Cures for a Cosmopolitan Hangover: What We’re Doing for International Clients Following Tax Reform

A discussion of recent changes to the international private client landscape and planning opportunities, including CFCs, Grecian Magnesite, planning for inbound real estate investment and changes in the electing small business trust (“ESBT”) rules al…

Blogs January 16, 2020 You Mean I Can’t Bribe the Coach? Modern Ethics Issues You Didn’t See Coming

A discussion of how perceptions of ethics are changing – and how societal changes and trends are affecting the way we have to behave and communicate.

Blogs January 16, 2020 What Makes a Special Needs Trust So Special, and When Should One Be Used?

A discussion of the concepts related to special needs trusts (different types of public assistance – those that are means-tested and those that are not; difference between self-settled trusts and third party-settled trusts; different types of distrib…