Many Coachella Valley residents have revocable trusts which include a provision for a “bypass trust” otherwise known as an “A/B split trust.” Some residents are considering amending or restating their trusts to remove this provision. Although this may seem wise, there are numerous reasons why these provisions are still important…
For family members, lawyers and accountants of heirs of decedents dying in 2010, there is some relief from the IRS regarding filing requirements. On March 31, 2011 the IRS issued a statement explaining that the new Form 8939 will not be due on April 18, 2011. Instead, the form will…
Palm Desert taxpayers will be affected by the new tax laws enacted after much debate and Congressional theatrics at the end of 2010. Many of the sunset provisions of 2010 have been temporarily extended while new laws for gifts and estate taxes have been imposed. An important note to highlight…