Home Is Where the Heart Is (and where the IRS will try to find you): Thinking of Living Abroad? Even ExPats May Have to Pay U.S. Taxes
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
Release Date: 10/31/2023
Grave Reservations: Everything You Didn’t Realize You Want to Know About Cemeteries
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
Host , Chair of Lowenstein’s practice, talks about the law and lore of cemeteries with , and Rich Moylan, president of Green-Wood Cemetery in Brooklyn, New York. They discuss the regulations governing the upkeep and maintenance of these hallowed grounds, the rules about ownership of funeral plots, and the history and architecture of Green-Wood—sprinkling the conversation with some appropriately dark humor. Speakers: , Partner and Chair, Trusts & Estates, Senior Counsel, Trusts & Estates, President, Green-Wood Cemetery Music credits: Lacrimosa – Mozart, by Vivienne...
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Can’t Kick the Can Any More—How the Expiring Tax Cuts Could Affect You
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
On this episode of “Splitting Heirs,” partner , Chair of Lowenstein’s practice, invites , Lowenstein Sandler partner and National Chair of the group, and , founder of the bipartisan advocacy firm Integer, to discuss how the upcoming 2024 presidential election may affect the taxes you have to pay--exclusions (including the ‘deceased spousal unused exclusion’ or DSUE), and other tax cuts expected to expire soon. In addition to examining the impact of these sunsetting cuts on a particular client, they also address the political and legislative factors that...
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The Sad Case of Lovey and Hubby (Part 2)
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
On this episode of “Splitting Heirs,” welcomes back , President of Family Wealth for the Eastern US Region of Wilmington Trust Company and member of the Estate Planning Hall of Fame, to continue their discussion of , two clients who celebrated their 50th wedding anniversary and then became embroiled in an extremely contentious divorce. The discussion centers on whether irrevocable trusts, into which marital assets were transferred during the course of the marriage, can be considered part of the marital balance sheet during a divorce. Warren and Sharon also address spousal limited access...
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All in the Family: Succession Issues in Family-Owned Businesses
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
On this episode of “Splitting Heirs,” talks with Lowenstein partner , Chair of the firm’s practice, and Jeff Savlov, a partner in the family business and wealth consulting firm Blum & Savlov, about the challenges facing family-owned businesses when disputes arise between parents and children, siblings, or other relatives. Observing that an unwillingness to address uncomfortable issues about succession planning and the future of the business often leads to conflict when the matriarch or the patriarch passes away, San Filippo emphasizes the need for a clearly constructed...
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Death and Dirt: Addressing the Injustices of the Past in Heirs Property
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
Today on “Splitting Heirs,” host Warren Racusin speaks with Molefi McIntosh and Mavis Gragg about the “heirs’ property problem--” or what happens to real estate when it is passed down within families without benefit of a will. The guests address the historical and legal impact as well as the economic and racial inequities that resulted from the fractionalization of real estate down through multiple generations, as well as recent efforts to right the injustices of the past through such legislation as the Uniform Partition of Heirs’ Property Act, and new technology that leverages...
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The Divorce, the Innocent Spouse, and the $78,000 Mercedes
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
Host welcomes of Lowenstein’s Tax practice and , CNN senior legal analyst, former federal prosecutor, and special counsel in Lowenstein’s practice, to the “” podcast to discuss the case of DeGuzman vs. the Commissioner of Internal Revenue, where a wealthy couple splits up and gets into a fight about responsibility for tax liability incurred during their marriage. The lawyers examine the concept of “the innocent spouse,” the differences between criminal tax fraud and civil tax fraud, how tax laws can be used to bring down organized crime bosses, (and why Hermes bags always...
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Home Is Where the Heart Is (and where the IRS will try to find you): Thinking of Living Abroad? Even ExPats May Have to Pay U.S. Taxes
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
Unlike most countries in the world, if you are a citizen or resident of the United States, the government gets to tax all of your worldwide income, regardless of where it's earned or where you live. And if the IRS decides that your tax home is the US your family may get hit by an estate tax, even if you aren’t a citizen or resident. In this episode of "Splitting Heirs,” host Warren K. Racusin speaks with fellow partner Megan E. Wernke about international and cross-border tax planning, and the different obligations and documents required for individuals with assets or income in the U.S. but...
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The Sad Tale of Hubby and Lovey: Preparing One’s Estate for the Possibility of Divorce
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
In this episode of “Splitting Heirs,” , partner and Chair of Lowenstein’s Trusts & Estates practice, speaks with , EVP, President - Family Wealth, Eastern U.S. Region & Head of National Divorce Advisory Practice, Wilmington Trust, N.A., about estate planning for divorcing couples, including “grey divorce”—when couples in their 50s and older—often with significant assets—decide to go their separate ways. They address the importance of—before initiating divorce proceedings—reviewing all of one’s estate planning documents, including beneficiary designations,...
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Whose Cello Is It Anyway? Or, a Lawyer, a Judge, and a Professional Athlete Talk About Family Litigation
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
In this episode of “” host of Lowenstein’s is joined by , Lowenstein partner and litigator whose practice focuses on fiduciary issues; the Honorable Paul D. Wilson, Associate Justice of the Massachusetts Superior Court; and Zachary Racusin, professional baseball player and owner/director of player development of Rax Hax Pro Performance, to explore the dynamics of competition when family members fight over inherited property. How can litigants prove a decedent’s wishes regarding his or her intentions, when is it worth the time and expense of going to trial, and when should parties and...
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As Long As I Have A Heartbeat
Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs
In this episode of Splitting Heirs, and of Lowenstein’s Trusts & Estates practice discuss end-of- life decision making with , Chief of the Division of Geriatrics & Palliative Care Medicine at New York-Presbyterian Hospital-Queens, exploring the nuances of healthcare directives, advance care planning, and the extent of ‘extraordinary measures.’ In light of the complex medical, ethical, legal, and spiritual issues at stake, the lawyers emphasize the importance of clearly documenting one’s end-of-life wishes well before it seems necessary, in order that those wishes can be...
info_outlineUnlike most countries in the world, if you are a citizen or resident of the United States, the government gets to tax all of your worldwide income, regardless of where it's earned or where you live. And if the IRS decides that your tax home is the US your family may get hit by an estate tax, even if you aren’t a citizen or resident. In this episode of "Splitting Heirs,” host Warren K. Racusin speaks with fellow partner Megan E. Wernke about international and cross-border tax planning, and the different obligations and documents required for individuals with assets or income in the U.S. but who are domiciled elsewhere; have renounced their U.S. citizenship completely; or who are considered non-resident aliens.
Speakers:
Warren K. Racusin, Partner and Chair, Trusts & Estates
Megan E. Wernke, Partner, Private Client Services