2014 Estate Planning Developments

Here is a quick review of some key estate planning developments that occurred in 2014:

• The IRC Section 67 final regulations describing the certian circumstances in which estates' and trusts' costs may be deductable without being limited by 2% AGI floor.
• The decision in Bobrow that limits tax-free rollovers to one per taxpayer per year, not per IRA.
• The decision in Frank Aragona Trust that held that a trust could and did materially participate in a real estate business.
• The holding that inherited IRAs are not retirement funds for purposes of bankruptcy protection  in Clark v. Rameker.

See, Charles A. Redd, A New Array of Problems and Possibilities, Wealth Management, Dec. 22, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.