Court Cases Top List of Hot Financial and Estate Planning Developments

Financial and estate planners saw a lot of action in 2004 with court cases on family limited partnerships. A discussion of the significant cases in this area and how they will affect future estate planning kicked off the recent annual meeting of the CCH Financial and Estate Planning Editorial Advisory Board. Cases from 2004 continue to fill in a critical roadmap of what will and won’t work when it comes to setting up family limited partnerships. Advisory Board members took a close look at these cases and offered their opinions on what the cases mean as well as what they think may have been left unsaid in the recent court rulings on this often fact-intensive area of tax practice.  While the cases, like all those involving family limited partnerships seem to, present specific sets of facts to consider, board members note that the cases as a group provide some important instruction for making sure a family limited partnership meets IRS muster. A review of FLP case law was just the beginning of a busy session for the CCH Financial and Estate Planning Advisory Board, however. Here are some of the topics they discussed:

  • State law impact on estate planning and decoupling under federal changes in death taxes
  • The effect of regulation drafting on Sec. 643 and state principal and income acts
  • Advanced planning techniques
  • Planning for retirement benefits
  • Insurance trend updates
  • Charitable giving trends
  • 529 plans

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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.

Read this article from CCH’s Journal of Taxation of Financial Products.

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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