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Robin Klomparens

Asset Protection Planning – A Primer

January 30, 2011

This article explains what asset protection planning is–structuring financial affairs to minimize the burden of future unforeseen liabilities–and best practices for implementing such plans. Click here to download a PDF copy of this article.

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Don’t Rock the Section 2053 Boat – You’ll Tip the 706 Over

January 15, 2011

Recent Cases Dealing with Administrative Expenses Turner v. U.S., 306 F.Supp.2d 668 (January 30, 2004), Deductions for Interest Paid on Delayed Pecuniary Bequest The will of Sally Jackson will left $10 million to a charity, the Juliette Fowler Homes, Inc., provided that the charity was an organization described in IRC §2055(a).  The decedent’s independent administratrix […]

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Tax Legislative Update – Obama Administration Tax Laws

December 30, 2010

On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 (“ARRA”) into law.  ARRA contained $787 billion of tax incentives and spending provisions intended to revitalize the economy.  The provisions ranged from significant relief for businesses that restructure their debt to those that encourage individuals to make investments in houses […]

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Between the Sheets or Splitting the Sheets

October 20, 2010

AB 205, as amended by AB 2580, the Domestic Partner Rights and Responsibilities Act (“Act”), was a complicated but landmark piece of legislation.  This California state law, which took effect on January 1, 2005, expanded domestic partner rights to include most, but not all, rights of opposite sex married couples.  The legislation provided rights but […]

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Suggested Procedure for Filing and Perfecting Protective Claims Under Treasury Regulations §20.2053-1

September 30, 2010

IRC §2053(a)(3) states, in relevant part, that, “[f]or purposes of [the federal estate tax], the value of the taxable estate shall be determined by deducting from the value of the gross estate such amounts … for claims against the estate … as are allowable by the laws of the jurisdiction … under which the estate […]

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Qualified Personal Residence Trust

August 30, 2010

Although estate tax only occurs upon one’s death, it has in prior years reached almost sixty percent (60%).  It is currently thirty-five percent (35%) for two years and will remain at that rate until new legislation is enacted for 2013 and beyond.  Upon an individual’s death, his or her entire estate over the exemption amount […]

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