Private Client Services Update - Practical Considerations When Navigating the New Modified Carryover Basis Rules
While most of the focus on estate related tax law this year has centered on the repeal of the federal estate tax, the accompanying change in the stepped up basis rules affect a substantially larger number of estates. Under the new law, property acquired from a decedent dying in 2010 receives a modified carryover basis rather than a full step up in basis equal to the fair market value at the decedents date of death.
By Alexander W. Powell Jr. and Private Client Services
Employee Benefits Alert - Fall 2010
In This Issue:
- Year-End Task List for Sponsors of Employee Benefits Plans
By ESOPs & Employee Benefits
New Approaches to Environmental Law and Agency Regulation: The Daubert Litigation Approach
David Graham's article "New Approaches to Environmental Law and Agency Regulation: The Daubert Litigation Approach" was featured in The Environmental Law Reporter News & Analysis.
By David B. Graham
Has Chinese Drywall Affected the Economic Loss Rule?
Kristan Burch was featured in the October 2010 issue of Virginia Lawyer article, "Has Chinese Drywall Affected the Economic Loss Rule?"
By Kristan B. Burch
Real Estate Strategies Update - October 2010
Over the past few months, K&Cs Real Estate Strategies Group has had the privilege of assisting clients in numerous real estate matters. Below is a summary of several recent transactions.
By Real Estate Strategies Group
Private Client Services Update - Coping with Capacity Issues in Parents
As discussed in a prior article, the preferred path is for parents to allay any fears their family may have by adequately preparing for their retirement years. As the family is typically part of the solution, there has presumably been some degree of communication with them or a process exisits by which the plan can be made known to them when appropriate.
By Lewis W. Webb III and Private Client Services
Private Client Services Update - Family Business Succession Planning (Beyond Taxes and Trusts)
Successful business owners have many excuses to postpone hard discussions about what will happen to their business following their death. Many wait to address this inevitability until terminal illness or imminent death leaves no alternative. To minimize friction between family members and risk to the business, and to maximize opportunities, business owners should undertake business succession planning while they are still healthy and in control.
By Alison V. Lennarz and Private Client Services