View Recent Blog Posts in Estate Planning, Wills, Trusts and Successions

  • New IRS Regulations Aim to Eliminate Powerful Estate Planning Strategy By Kyle McInnis and Kevin Curry On August 2, 2016, the Treasury Department issued new proposed tax regulations that would substantially eliminate many of the valuation discounts used for transfer tax purposes by family-owned businesses.  The regulations disregard restrictions on the redemption and liquidation of a family-owned business for valuation purposes.  In effect, this would [...] Continue Reading... ....
  • Low Energy Prices, Low Interest Rates, Rise in Federal Estate Tax Make Estate Freeze Transactions Attractive By Kyle C. McInnis The recent downturn in energy prices has given consumers a welcomed break at the gasoline pump. The people producing the energy, however, from landowners, to oil companies, to oil field service providers, have felt the full negative effects of the steep price decline. Those producers are seeing price pressure at every [...] Continue Reading... ....
  • Tax Provisions In Highway Trust Fund Extension Law By Kevin C. Curry On July 31, 2015, President Obama signed into law the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015” (the Act).  The Act was primarily designed as a temporary extension of the Highway Trust Fund and related issues.  However, the Act also includes a number of important tax provisions, [...] Continue Reading... ....
  • Laws Governing Trusts in Louisiana Became Animal-Friendly This Year By Mark D. Mese and Carey J. Messina The Louisiana Legislature added a new chapter to our Trust Code in 2015 entitled:  “Trust for the Care and Benefit of an Animal” (click here).  The statute is new and is modeled on similar provisions in the Uniform Trust Code and the Uniform Probate Code. Under the [...] Continue Reading... ....
  • Electing Portability – It’s Not Too Late to File The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law on December 17, 2010, and included a key provision – providing for “portability” between spouses of the unified credit. On January 2, 2013, the American Tax Relief Act of 2012 (“ATRA”), was signed into law, including a provision making [...] Continue Reading... ....
  • Financial Planning for the Growing Family – Seven Important Tips for New Parents By Kyle C. McInnis New parents have to make a number of adjustments to their lives. From dealing with diaper rash to sleep deprivation, they have a lot to deal with. But parenting duties are not limited to physical care of a child. There are numerous financial parenting tips that every new parent must consider. [...] Continue Reading... ....
  • Louisiana Expands Small Succession Procedure To Include Ancillary Probate Proceedings By Kevin C. Curry Act Number 323 of the 2011 Regular Session of the Louisiana Legislature modified the rules on small successions in Louisiana. In addition to some other changes, the law allows the use of the small succession procedure, which generally involves filing an affidavit rather than opening judicial proceedings, to transfer title to [...] Continue Reading... ....
  • New Federal Estate Tax and Gift Tax Legislation By Carey J. Messina and Kevin C. Curry After a long delay, Congress has passed and President Obama has signed into law the new federal estate and gift tax legislation. It has been very difficult for some individuals to prepare an appropriate estate plan not knowing what the potential federal estate and gift taxes will [...] Continue Reading... ....
  • Six Myths of the Revocable Living Trust By Carey J. Messina and Kevin C. Curry As estate planning attorneys, we receive calls from clients concerning the use of revocable living trusts in estate planning. The general public is invited to seminars on the subject, they receive literature in the mail, and, in some cases, receive in-home visits from parties, who are usually [...] Continue Reading... ....
  • New Law Suspends Required Minimum Distributions for 2009 By Kevin C. Curry On December 23, 2008, President Bush signed the Worker, Retiree, and Employer Recovery Act of 2008 (the Act) into law.  Section 201 of the Act waives any required minimum distributions (RMDs) for 2009 from retirement plans that hold each participant’s benefit in an individual account, such as § 401(k) plans and § [...] Continue Reading... ....