Public Law 115-97, commonly referred to as the Tax Cuts and Jobs
Act (the"Act"), was signed into law on Dec. 22,
2017.1 The Act significantly altered many provisions of
the Internal Revenue Code, resulting in substantial changes to the
calculation of personal and entity-level income taxes and the
further reduction to the pool of individuals to whom the estate,
gift and generation skipping transfer taxes will apply. Although
less than .02 percent of taxpayers are affected by the federal
wealth transfer tax, depending on an individual's age and life
expectancy, taxpayers who would not be subject to an estate tax
under the current exemption levels may still find opportunities for
making lifetime gifts. 2 By incorporating flexibility in
the structure and mechanics of a client's estate plan,
practitioners can assure a client who is uncertain about the future
"opportunity cost" of his/her gift that his/her plans can
adapt with changing family a
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Charron, who co-chairs Pryor Cashman's Art Law practice, and his co-presenter, Megan Noh, will discuss the newly-launched Court of Arbitration for Art (CAfA), a first-of-its-kind alternative dispute resolution tribunal dedicated to the handling of all art-related disputes.
On July 25, 2018, Judith Poller, Co-Chair of Pryor Cashman's Family Law Group, will be a featured speaker at a seminar for the New York State Society of CPAs (NYSSCPA) - Estate Planning Committee.
On July 31, 2018, Partner Robert deBrauwere, Co-Chair of Pryor Cashman's Digital Media Group, will be a featured panelist on a program discussing Europe’s new framework for data protection (General Data Protection Regulation).
He and his co-panelists will decode the new 100-page legislation and offer opinions on where the next hurdles might be. Additional topics for discussion include:
Is the U.S. next?
Is legislation in certain states more likely than others?
Will companies transform and find new and different ways to reach their audiences?
What challenges do communicators face? Do companies now need a Chief Privacy Officer?
What are ways that companies, large and small, are building processes for compliance?
Every parent wants their children to have the opportunity to go to college and prepare themselves for a career. In the midst of a divorce case, however, making your children's college plans can be problematic.
As explained in an earlier article,1 a common civil law estate planning technique involves an older generation making a gift of bare ownership in an income generating asset to members of a younger generation.
Planning for your death — an inevitable event for all of us — can be one of the simplest ways to control the disposition of your assets after you pass.
t is not uncommon for one spouse to bring separate property into a marriage such as a house or land. For example, upon marriage, the husband and wife may choose to reside in a house that one of the spouses already owns.
Trustees are often granted the power to distribute trust property "in the Trustee’s discretion" for a beneficiary’s "general well-being," "best interests," "comfort," or, most commonly, "health, education, maintenance and support."
