United States: Trusts

Fiduciaries administering estates with revocable trusts face critical income tax decisions that can significantly impact asset availability and tax obligations.

Governor Andy Beshear recently signed Senate Bill 50 into law, ushering in one of the most significant updates to Kentucky inheritance and estate administration laws in recent years.

At a Washington tax conference on May 20, Treasury Assistant Secretary for Tax Policy Kenneth Kies reportedly signaled that anti-stacking regulations targeting Code §1202 qualified small business stock (“Q.S.B.S.”) are likely forthcoming.

Section 1202 of the Internal Revenue Code offers substantial tax benefits for qualified small business stock (QSBS) holders, allowing exclusion of gains up to $10 million or more per taxpayer. Strategic gifting of QSBS shares to family members, trusts, and other entities can multiply these exclusions, potentially sheltering tens of millions in capital gains from federal taxation while navigating complex timing, gift tax, and trust structure considerations.

When life forces the question of exiting your LLC—through death, divorce, disability, or departure—the difference between a clean exit and financial disaster lies in your operating agreement's transfer provisions.

Earlier this week, the SEC’s Division of Investment Management and Division of Corporation Finance recently provided guidance regarding pooled employer plans (PEPs), which are defined contribution retirement plans...

When representing fiduciaries in litigation that estate and trust beneficiaries commence, my Farrell Fritz, P.C. colleagues and I seek to limit the fiduciaries' exposure to liability.

As 2025 comes to a close, it presents a timely opportunity to review recent legislative developments and explore new planning opportunities that could enhance your estate planning...

Private Client Services Associate Jacob Phillips authored an article for Wealth Management discussing two trust and estate related laws recently passed in California...