Here is a potpourri (and you thought that was just a Jeopardy category) of recent articles touching on the world of Trusts and Estates. Hey, you can’t expect a musical entry every week.
Estate Tax Nightmare: Three Weddings, Two Funerals, And A Mexican Divorce:
“. . .this week’s topic offers a critical observation on the IRS’s litigation position on the applicability of foreign and religious law for federal estate tax purposes. After reading the recent U.S. Tax Court memorandum opinion in Estate of Grossman, one reckons this is a case the government should not have brought.”
Forbes.com Tax Notes 2021
From Market Watch:
How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000
“Roth individual retirement accounts were created to help middle-class earners set aside money for retirement with no taxes due upon withdrawal. But PayPal co-founder Peter Thiel has used his Roth IRA to amass a $5 billion nest egg.”
From the National Association of Estate Planners & Councils
Note: This is a terrific group of professionals. Each local council brings together professionals from the world of estate planning, from attorneys to accountants to insurance experts, to accredited financial planners to trust officers, etc. The organization’s national journal is open to the public and is frequently the source of informative and useful information.
The Journal of Estate and Tax Planning:
From Above the Law and The New York Times
What the heck is going on with Brittany Spears and her guardianship?
“To watch superstar Britney Spears’s conservatorship publicly unfold, for more than a decade, is a unique experience. It is a peek into a courtroom that most people will otherwise never see. Unlike a personal injury case or a murder trial, in conservatorships the public does not hear the testimony or see the entirety of the evidence. We are not shown confidential medical reports or sensitive psychological notes. Simply put, we do not know the reasons why Spears has a conservatorship or why it is has subsisted for so long.”