In any trial to determine the value of real property, whether it be an eminent domain taking, or an application to reduce assessed taxes, a recent sale of the parcel will be extremely relevant. If a sale was an open market transaction with a buyer...
IRREVOCABLE INSURANCE TRUST PLANNING AND ADMINISTRATION FOR THE NEW TAX AGE
Insurance. The word itself evokes different reactions. The range of emotions expands when we mention life insurance. And if we add the word trust–life insurance trust–clients may stop listening altogether. But now is exactly the time to be thinking...
TAXATION CONSIDERATIONS RELATED TO EQUITY INCENTIVE COMPENSATION PLANS
With labor shortages currently affecting many industries and with the low national unemployment rate, many private company owners are considering compensation incentives to attract and retain high quality employees. For years, tax counsel have...
KIDS, CRYPTO, AND TAXES: AVOIDING THE HEADACHES
Virtual currency is, by most objective standards, a new asset class. The oldest virtual currency is Bitcoin, which launched in 2009. In recent years, there has been a proliferation of technologies developed on Bitcoin’s promise of distributed...
QUESTIONS AND ANSWERS ABOUT OFFSET BYPASS REFUNDS
If a taxpayer has delinquent tax debts, the taxpayer will generally not receive any tax return refunds due to him.1 The IRS will typically apply whatever refund that taxpayer is owed to a prior year’s tax debt. For example, if a taxpayer has a...
CONVERSATION WITH AN EXPERT: LARRY KATZENSTEIN
This is the first in a series of interviews between Rajiv S. Khanna, principle of The Law Offices of Rajiv Khanna, and leading practitioners across the country designed to provide personal and professional insights into various areas of the law....
OPERATOR OWNERSHIP AND CONTROL REQUIREMENTS IN REAL ESTATE JOINT VENTURES
One of the more common ways that an institutional investor (Investor) invests in real estate is by teaming up with a local operator or developer (Operator) in a joint venture (Venture) to acquire, and sometimes develop or refurbish, real estate....
WHO GETS THE FEE WHEN COUNSEL IS DISCHARGED IN A CONTINGENCY CASE—DISCHARGED COUNSEL OR SUCCESSOR COUNSEL?
When a client terminates its legal representation in a contingent fee matter without cause, and subsequently retains new counsel from a different firm, the Rules of Professional Conduct related to the division...
TRUSTS FOR BENEFICIARIES WITH ADDICTION AND MENTAL ILLNESS ISSUES (WITH SAMPLE PROVISIONS)
When thinking about their estate plans, parents typically want to treat their children equally. This is true even when a beneficiary is struggling with addiction or mental illness issues. Of concern are beneficiaries who suffer from addictive or...