The Uniform Law Commission held its annual conference this summer, which resulted in revisions to about half a dozen acts including the Uniform Fiduciary Access to Digital Assets Act.
Once per year, Guns & Ammo Magazine ranks every state with respect to gun laws to determine where in the United States are the best places to own a gun.
Earlier this year, the Special Needs Trust Fairness Act of 2015 (H.R. 670) was proposed to provide disabled persons with legal capacity the freedom to create Special Needs Trusts for their own benefit.
A recent Florida case showcases an estate planning problem that divorced couples might face. Florida, like several other states, has state laws that, immediately upon divorce, invalidate provisions in a will that favor a former spouse.
In the spring of 2014, legislators in New York passed new tax rules that created an estate tax 'cliff.' In the spring of 2015, Assembly Bill 6419 was introduced and proposes elimination of the 'cliff.'
The IRS and the U.S. Treasury Department are working on new proposed regulations that would affect taxation laws applied to FLLC assets.
The IRS' final rule on portability applies to estates of decedents who died on or after June 15, 2015. One of the areas the IRS addressed applies to the eligibility of estates to apply for an extension of the portability election deadline.
For many married couples filing taxes jointly in the United States, tax rules are fairly straightforward. An individual with U.S. citizenship married to a foreign spouse, however, must interpret complex regulations.
The financial concerns of the wealthy generally revolve around tax mitigation and asset protection. However, some estate plans fall short when it comes to managing wealth.
On June 2, 2015 Governor Rick Scott signed House Bill 5 into law. The bill created two new statutes and amended more than a dozen others. Several affect the state's guardianship procedures.