Retirement accounts are often the most significant asset in an estate, yet in most cases, these assets pass outside the terms of our clients' testamentary documents. As a result, planners must take particular care to coordinate beneficiary designations with overall…
Read MoreWe understand that the coronavirus outbreak is a source of high anxiety. The estate planning attorneys at MPBA have transitioned to remote operations during the stay-in-place order to ensure we meet our clients’ needs. We remain available to assist during this challenging…
Read MoreThe business attorney’s focus when advising a client selling a business is necessarily the transaction itself. Primary considerations typically include maximizing the purchase price, reducing the income and other (e.g., real estate excise) taxes resulting from the transaction, and minimizing…
Read MoreIn Estate of Purdue, T.C. Memo. 2015-249, the United States Tax Court denied an IRS attempt to disregard lifetime estate planning implemented by Barbara and Robert Purdue (the “Purdues”). MPBA attorneys, primarily Alan L. Montgomery and George W. Akers, advised Mr. and Mrs. Purdue…
Read MoreThe IRS recently announced new proposed regulations which may eliminate or significantly reduce valuation discounts on transfers of family entity interests (e.g., LLCs, limited partnerships, and corporations). Although there are several uncertainties regarding the scope of these new rules, the proposed regulations, if enacted, could result in substantial increases in estate, gift, and generation-skipping transfer taxes for many taxpayers.
Read MoreIn In Re Estate of Bernard, 182 Wn. App. 692, 332 P.3d 480 (2014), review denied 339 P.3d 634 (2014), the Washington State Court of Appeals Division 1 reversed a trial court order invalidating a trustor's estate plan. In upholding…
Read MoreLink to Article Estate Planning Law Update January 2012
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