Insights

Governor Signs Fair Foreclosure Act

On September 6, 1995, the Governor signed the Fair Foreclosure Act which dramatically alters the procedures for...

Governor Signs Limited Liability Partnership Act

Just as everyone was beginning to fully appreciate the "ins and outs" of working with limited liability...

Governor Enacts Accountant's Protective Legislation

Banks and other third parties will have a much more difficult time assert-ing negligence claims against accoun-tants...

IRS Issues Guidance on Limited Liability Companies

CLASSIFICATION FOR FEDERAL TAX PURPOSES Almost all states (including New Jersey and New York) have enacted Limited...

Minors’Accounts Present Troubling Tax and Practice Problems

Parents and grandparents who wish to make gifts to minor children and grandchildren are sometimes advised to...

Pension and IRA Benefits May Be Best Source of Charitable Gifts

Amounts contributed on a pre-tax basis to "qualified plans" such as a pension, profit-sharing, 401(k) plan, Keogh...

Simultaneous Gifts of Closely-Held Stock Not Aggregated for Valuation Purposes

In a recent Technical Advice Memorandum ("TAM"), the IRS concluded that when gifts of closely-held stock are...

Qualified Plan Benefits Create Problems For Non-Citizen Spouse

Since the enactment of the Technical and Miscellaneous Revenue Act of 1988, the marital deduction for federal...

Winter 1992-1993 Philanthropic Fund: A Simpler Alternative to the Private Foundation

Suppose a client wishes to set aside a sizable sum (let's say $20,000) for certain charitable purposes....