Trump’s new tax proposal makes some changes that could affect your estate planning. Both the estate and generation-skipping taxes get the boot. What about stepped up basis under I.R.C. § 1014? R.C. § 1014 provides that, for most property, a decedent’s beneficiaries receive a step up in basis to fair market value at the decedent’s date of death. Thus far, the proposed changes don’t affect...read more
For generations, law students and practitioners alike have scratched their heads over “lapsed legacies” in will cases. A recent Tennessee Court of Appeals case serves as a refresher on the subject. Estate planners, take note… At common law, when a person who would take under a will predeceases the testator, the legacy lapsed. The “anti-lapse” statute, Tenn. Code...read more
Jillian Mastroianni was the featured speaker at the August 16 meeting of the Murfreesboro Estate Planning Council. Jillian led a discussion on updates in the law of probate and estate planning and offered tips and best practices. The Council consists of Murfreesboro-area attorneys, trust advisors, and other professionals who focus on estate planning matters. Mastroianni focuses her practice on...read more
Jefferson, Madison, and Hamilton could never agree on what "Necessary and Proper" meant in the Constitution.
200 years ago today, John Marshall wrote that Congress's acts must "consist with the letters and the spirit of the Constitution."
Happy Birthday, McCulloch v. Maryland https://t.co/Ofa6mb9y4s