The 7520 rate for November 2017 increased to 2.4%.
The November 2017 Applicable Federal Interest Rates can be found here.
London Partner, Dyke Arboneaux, was profiled in The Private Client Global Elite 2017 – a special publication of Legal Week compiled every five years in recognition of the top 200 private client and trust practitioners across Europe, the U.S. and Asia.Arboneaux advises on the international aspects of U.S. tax matters and estate planning, with a particular specialty in planning for clients who are exposed to multiple tax systems. She leads a team of FATCA specialists within Bryan Cave who have extensive experience advising small to medium-sized trust companies, private investment funds, and complex private trust and company structures on FATCA compliance.
Those included in the publication were celebrated at a gala dinner on Oct. 4. This is the second time Arboneaux has been featured in The Private Client Global Elite;
The Department of the Treasury has withdrawn the controversial proposed regulations for Section 2704 of the Code. Section 2704 limits valuation discounts in family-controlled entities for certain lapsing rights and restrictions. The proposed Regulations would have expanded the scope of Section 2704 by adding a new classification of disregarded restrictions and by narrowing several longstanding exceptions. Comments submitted after the regulations were proposed complained that the requirements were unclear and that the impact on state law was difficult to predict. On October 2, 2017, the Department of the Treasury submitted a report recommending that the proposed 2704 Regulations be rescinded and today the proposed Regulations were officially withdrawn by notice published in the Federal Register (82 FR 48779).
Expert witnesses can be expensive. Yet, in estate disputes, they may be unavoidable. When a will gets challenged based on an alleged lack of testamentary capacity or undue influence, you can all but guarantee that the decedent’s treating physician and medical records will make an appearance. On the other side, the parties will line up the decedent’s friends, family, associates and the like who interacted with the decedent around the time the will was executed to claim the decedent either lacked capacity or was totally competent. But, are these lay witnesses enough to overcome the doctor? Perhaps not.