New Format For Practical Drafting

CL
Carter Ledyard & Milburn

Contributor

Carter Ledyard & Milburn is a New York-based law firm with a strong focus on litigation, corporate transactions, real estate, and trusts and estates. We have a ratio of partners to associates of about one to one, and provide personal, partner-level attention to all clients and matters, large and small. This forms part of our Partners for Your Business® commitment, together with the focus we place on providing counseling to help advance the business interests of our clients.
Practical Drafting is coming "in-house" to Carter Ledyard & Milburn LLP and will be published periodically by the firm without a fixed schedule.
United States Tax

Practical Drafting is coming "in-house" to Carter Ledyard & Milburn LLP and will be published periodically by the firm without a fixed schedule. It will cover matters of general interest to clients of the firm and other lawyers, accountants and interested parties. The coverage will include trust and estate matters, federal tax matters and state matters of general interest. The authors are Richard B. Covey and Jerome Caulfield, two senior partners who have had long experience with the firm. They were the authors of the brief filed with the Tax Court in Walton v. Comm'r, 115 T.C. 589 (2000). The case rejected the IRS position and approved zeroed-out GRATs. We believe the Biden administration may propose a change which will, in effect, eliminate that concept. The Obama administration proposed such a change but failed to enact it.

The first substantive issue of the "new" Practical Drafting will be posted soon to this site and it will cover a proposal from the Biden administration: "Taxing Unrealized Appreciation on Lifetime Transfers and at Death".

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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