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  • Posts by Greg Duncan
    Partner

    Greg works with estate and wealth transfer and matrimonial law in the firm's Estate Planning Department and is also part of the Corporate Services Department. Among the legal services he provides for his clients are estate and gift ...

Posted in Estate Planning

The U. S. Tax Court recently upheld the right of the IRS to adjust the amount of the unused estate tax exemption left by the predeceased spouse, when computing the federal estate tax owed by the estate of the surviving spouse.

Posted in Estate Planning

In Heisinger v. Cleary, 150 A.3d 1136 (2016), the Supreme Court of Connecticut upheld the Co-Executors’ engagement of Management Professional Planning, Inc. ("MPI") to appraise the decedent’s stock in a closely held business.

Posted in Estate Planning

Until recently, the matter of removing a trustee of a trust was largely a matter for Courts applying common law based on prior Court decisions. Since 2000, however, a number of states, including Kentucky, have adopted the Uniform Trust Code (“UTC”), which includes an elaborate trustee removal provision. However, two recent cases illustrate that application of the UTC to attempted trustee removals is not necessarily straightforward, and often involves the interplay of multiple UTC provisions.

Posted in Estate Planning

The American Taxpayer Relief Act of 2012 clarified the federal estate tax rules, prompting new questions for many people.

Posted in Estate Planning

It is commonly said that two things in life are certain: death and taxes. When thinking about “death taxes” prior to the enactment of the American Taxpayer Relief Act of 2012, though, a third certainty in life seemed to be that federal gift and estate tax laws would change (almost) every year. However, the passage of the Act has changed that.

Posted in Estate Planning

One of the most basic and important estate tax planning tools is making the most of “exclusions.” While many individuals are already aware and take advantage of the tax planning benefits of the “annual exclusion,” less are aware of another valuable exclusion: a qualified gift of medical expenses.

Posted in Estate Planning

One of the most basic and important estate tax planning tools is making the most of “exclusions.” While many individuals are already aware and take advantage of the tax planning benefits of the “annual exclusion,” less are aware of another valuable exclusion: a qualified gift of tuition.

What are exclusions?

Exclusions are gifts that are not taxable, nor charged against the ...

Can your family benefit from annual gifts, gifts of tuition or gifts of medical expenses? Under the American Taxpayer Relief Act that was passed into law on Jan. 2, 2013, the federal gift and estate tax exemption was set at $5.25 million for 2013, indexed to increase with inflation thereafter. In simplified terms, this means that an individual can make gifts during life, added together with bequests made at death, up to the exemption amount without triggering any federal gift or estate taxes. However, all lifetime gifts plus bequests-at-death that exceed the exemption amount will be taxed at 40 percent

Posted in Estate Planning

Bingham Greenebaum Doll LLP attorneys Greg J. Duncan and Polly J. Dobbs have been selected as finalists for Indy’s 2012 Best and Brightest Award, which honors 100 of Central Indiana’s outstanding young professionals, age 40 and under, who are making their mark in and around Indianapolis. Indy’s Best and Brightest is an annual event created by Junior Achievement and recognizes young professionals in ten industry categories.

Posted in Litigation

Several Bingham Greenebaum Doll LLP attorneys recently participated in the Indiana Black Expo, Inc.’s 42nd Summer Celebration, which ran from July 12-22, 2012.

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