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BCLP Team to Present on Litigation Risks of COVID-19 Remote Witnessing and Notarization

As a result of the COVID-19 pandemic, many states have temporarily authorized remote witnessing and notarization of estate planning documents. These laws present a unique set of litigation risks, which can be mitigated with careful planning.

BCLP Partner, Doug Stanley, and Associates, Andrew Bleyer and Sasha Riedisser, will be discussing this topic on a Federal Bar Association webinar on Friday, May 15 at 2 p.m. CST. You can register for the webinar here.

Revisiting your Healthcare Directive (or Living Will) in Light of COVID-19

https://prepareforyourcare.org/welcomeThe numbers of confirmed cases of U.S. citizens with COVID and of those who die from COVID related symptoms are continuing to rise.  COVID-19 has caused life-threating respiratory conditions, extended hospitalizations, and a resulting strain on our healthcare system.  Because COVID-19 is so contagious, the loved ones and family members of sick patients are not able to accompany them to the hospital.  Consequently, the virus underscores for all of us the importance of healthcare planning, particularly by having an advance directive or living will.

Advance directives are legal documents that specify healthcare treatment preferences (the “living will” portion) and designate a “healthcare proxy.” The proxy, also known as a healthcare agent, is a person you designate to make decisions for you in case you become unable to make them for yourself.  The directive allows

BCLP Team to Present on COVID-19 Estate Planning Application

May 5, 2020

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BCLP Partner, Stephanie Moll, and Global Innovation Team member, Kristi Smith, will be presenting with Neota Logic on the International Legal Technology Association’s product briefing webinar Friday, May 29.  Moll and Smith will discuss new challenges law firms may be facing that can be overcome through a multidisciplinary approach to digitizing legal services, and will showcase their latest COVID-19 application that was built in the Neota platform. This application helps people impacted by COVID-19 identify the bare minimum requirements for execution of wills, trusts & powers of attorney in the age of social distancing.

You can register for the Webinar here.

The Most Savvy DIY Project to Do from Home During Quarantine… Organize your Personal Records!

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At this point you’ve probably cleaned out your closets and garage or tackled that home improvement project you’ve been wanting to do since you moved into your home.  Maybe you’ve even made banana bread, Dalgona whipped coffee or watched Tiger King and all three seasons of Ozark.  But what have you done to ensure your personal and family organization? One of the most important DIY projects that has been overlooked is the compilation, organization and maintenance of your important documents and records.

There is no better time than now to get your financial and estate planning documents in order!

Some of the information you should organize and compile is:

Contact Information: Create a list of all of the important people in your life (including their contact information). This list can include people like your attorney, your CPA, your named Executors and Trustees, your

IRS Publishes Guidance on COVID-19 Relief for Estate and Gift Taxes

The IRS has published a series of questions and answers that provide guidance with respect to COVID-19 relief for estate and gift taxes, which can be found here.

IRS Expands Medical Condition Exception to Substantial Presence Test to Include Travel Disruption as a Result of COVID-19

In Rev. Proc. 2020-20, the IRS provides relief to nonresident taxpayers who have been in the United States long enough to be considered resident aliens under the substantial presence test of IRC 7701(b)(3) as a result of the COVID-19 pandemic. This Revenue Procedure also provides relief to taxpayers who would otherwise be ineligible for treaty benefits on services income. While this expansion is welcome, it is limited to excluding days falling after January 31 and through May 31.

Typically, under IRC 7701(b), persons who are otherwise not permanent US residents but who spend a sufficient amount of time in the country will be treated as US residents for income tax purposes under the substantial presence test. This test counts the number of days that an individual spent in the country in a given tax year or over a three year “look back” period to determine whether such person spent a

BCLP Counsel Elizabeth Schlesinger to Present with HRC

BCLP Counsel Elizabeth Schlesinger will be presenting at the Human Rights Campaign Webinar on estate planning documents that can help protect you and your loved ones during the COVID-19 crisis and beyond.  The Webinar will be held on April 20, 2020 at 4 p.m. EST.

Register for the Webinar here.

IRS extends more tax deadlines; EO operations affected during COVID-19 and more

Last month, the IRS announced that certain taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. The IRS has extended this relief to additional returns, tax payments and other actions. As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. The extensions apply to many forms and tax payments made by tax-exempt organizations, including:

  • Form 990-series annual information returns or notices (Forms 990, 990-EZ, 990-PF, 990-BL, 990-N (e-postcard))
  • Forms 8871 and 8872
  • Form 5227
  • Form 990-T
  • Form 1120-POL
  • Form 4720
  • Form 8976

See Notice 2020-23 and Rev. Proc. 2018-58 for more information, including a complete list of affected forms, tax payments and other time-sensitive actions.

IRS operations during COVID-19: mission-critical functions continue

In response to the coronavirus (COVID-19) crisis, the

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