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#AssetProtection: Urgent — A lot of families may soon get whipsawed on estate tax (PERFECT STORM)

Tell a friend, please — you may have seen me and other estate planning attorneys blogging recently on proposed changes to Section 2704 regulations taking effect at the end of this year. While these changes affect the kind of estate tax avoidance planning that we...

#FamilyProtection: Failure of ‘Veto Gunmageddon’ Referendum Petition, PLUS a Theory on Why Brown Vetoed SB 1332

Two recent developments in California gun politics appear not to be related, but are very much related in my opinion. First, news broke a few moments ago that the “Veto Gunmageddon” referendum petition has failed horribly, getting less than a third of the...

#AssetProtection: IRS Issues New Rev Proc 2016-49 Supporting Use of Clayton Election

Good news! The IRS just issued, moments ago, a new Revenue Procedure 2016-49, modifying Rev Proc 2001-48, removing a possible grey area in the use of the so-called Clayton election for flexible and comprehensive post-mortem (i.e., portability and reverse QTIP) tax...

#FamilyProtection: George H.W. Bush destroys own legacy, exercises power of (dis)appointment

In failing to deny he is voting for Hillary, the senior Bush has utterly destroyed any remaining political legacy for his entire family. Maybe another legacy is more important — a financial one, perhaps? Many former GOP officials from both Bush administrations...