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Articles

Beneficiary and Fiduciary Liability for Income, Gift and Estate Taxes

Category: Estate Planning, Fiduciary

It can be either a blessing or a curse to be appointed as the Personal Representative of an estate or Trustee of a trust (collectively a “Fiduciary”).  One of the most over looked aspects of the job...

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Roth IRA Conversion: Opportunities for 2010 and Beyond

Category: estateplanninglawfirms.com, IRA Planning, United States

January 1, 2010 opens a new window of opportunity for taxpayers to convert an existing Individual Retirement Account (IRA) to a Roth IRA. The conversion can be made without regard to the taxpayer’s annual income or marital...

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The Bicycle Commuter Act

Category: taxationlawfirms.com, Tax Basics, United States

Beginning Jan. 1, 2009, bicycling commuters became eligible for employer reimbursement of workplace transportation costs. Under the “Bicycle Commuter Act” cyclists are provided tax-free fringe benefit status, similar to workers who receive qualified transportation benefits, for utilizing public transit...

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Beneficiary and Fiduciary Liability: Part Three

Category: Estate Planning, Fiduciary

Every estate and trust beneficiary (heir, legatee, and devisee) must be appraised of their potential for personal liability for unpaid estate taxes under...

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Beneficiary and Fiduciary Liability: Part Two

Category: Estate Planning, Fiduciary

While the IRS may pursue collection of an estate tax deficiency from the beneficiaries, the Fiduciary will only retain a right of subrogation if the IRS elects to pursue collection of the tax def

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