As the world becomes more globalized, courts are having to sort out sometimes messy conflicts between the estate laws of different cultures. A recent example comes out of Switzerland.
More and more people today are interacting and marrying people from different countries and cultures. They also are choosing to hold their assets in nations, where they do not live.
All of this can create problems when the laws of one nation conflict with the policies of another.
Recently, a court in Switzerland was asked to recognize a receipt of inheritance decision made by a court in Egypt, under its version...
People would like to know how much money they need to have in their accounts, before they can consider retiring. That is not always an easy question to answer.
How much folks need to save for retirement depends on several different factors. One important factor is what they plan to do during retirement.
For example, people who would like to take a lot of vacations will likely need to have more money than those who are not interested in doing that.
One large retirement nest egg number that gets thrown around a lot is $1 million. It is a nice...
If a trustee is removed from his or her duties, the former trustee usually turns over any assets he holds to the new trustee as quickly as possible. However, there are exceptions to that rule.
Marsha Sinzheimer and her late husband had created a trust for her benefit. The trust documents required that there should be co-trustees, one a corporate trustee and one an individual trustee.
Sinzheimer’s son Andrew was appointed to take over as the individual trustee. However, before the former individual trustee stepped down, he exercised his authority to remove the corporate trustee and did not name another...
The initial tax proposal introduced in the House of Representatives by Republicans contains provisions that would allow the wealthy to easily transfer great sums of wealth to their heirs.
There has been a lot of talk by politicians and the media in recent years about income inequality and whether it is bad for society. This inequality occurs when there is a large gap between the amount the highest earners make and the amount those lower on the income scale earn.
These discussions naturally lead to arguments about income tax rates, minimum wages and safety net programs. However, many economists are...
After much speculation, a repeal of the estate tax is included in the GOP tax reform plan.
Republicans have wanted to reform the federal tax system for a long time. They have rarely had the power to do so on their own. However, they have made all sorts of different proposals in anticipation they would someday have that power.
They have the power today and have recently proposed a comprehensive reform to taxes.
There has been a lot of speculation whether a repeal of the estate tax would be included.
Republicans have always wanted to repeal it. However, some thought...