APRIL 19, 2019
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Family & Estate Planning News
In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.

Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.

There is no log in to access the database and new articles are added hourly.
According to the Giving USA Foundation, Americans donated more than $390 billion to charities in 2016. Are you one of those individuals who supported your favorite charitable organizations? If so, you should ensure you are making the best use of your resources so that you, your loved ones and charities can all enjoy the fruits of your labor.  Not all ways of contributing to charitable organizations are created equal; and many people approach charitable giving without a plan. To maximize the impact of your charitable giving, a plan is essential. Ideally, you want to adopt a strategy that makes the most of your hard-earned money both before and after your death. The following are a few options to consider. Read More on Wealth Management Here >
California has no estate tax, but that could change in the near future. California State Senator Scott Wiener recently introduced a bill which would impose gift, estate, and generation-skipping transfer tax on transfers during life and at death after December 31, 2020.  California law requires that any law imposing transfer taxes must be approved by the voters. This means that, if the California Legislature approves the California bill, it will be put before the voters at the November 2020 election. Read More on California Estate Tax Here >
As a result of the dramatic changes in the federal tax laws created by the 2017 Tax Act, it is important that consideration be given to the comparative benefits of excluding property from a taxable estate to avoid estate tax as opposed to receiving an income tax basis step-up for the property and including it in the taxable estate. 
The benefits of basis step-up include additional depreciation that becomes available and the reduction of gain on the sale of property. In the past, these benefits were outweighed by the reduction of estate tax that was accomplished by removing property from a taxable estate.   Find Out More on Estate Plan Reviews Here >
In 2016, a married gay couple in Canada became parents of twins using a surrogate mother. One father is a U.S. citizen, the other an Israeli citizen. The two fathers made a decision to contribute one embryo each to the surrogate mother so the twins would be biologically related to each of them. However, that turned out to be a determinative factor when the parents went to the U.S. Consulate in Toronto to register the twins for U.S. citizenship. Only one of the twins, Aidan, who was biologically related to his U.S. citizen father, was granted a U.S. passport.   Find Out More on the Court's Decision Here >
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