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Wealth Management Update

August 2025 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts
 
One Big Beautiful Bill Act Signed into Law
 
PLR 202526004 allows a late ESBT election for a trust that failed to file one, curing an LLC's S election
 
Colin Markes and Sharon Hart- Corrigan v. Estate of Keith Albert Markes, et al., No. 4D2024-2101 (Fla. 4th DCA 2025)
 
Jacquelyn Adelson v. Jodi Kalter, etc., No. 3D24-0337 (Fla. 3d DCA 2025)
 
O'Connor v. Commissioner, T.C. Memo 2025-42

on August 2025

Wealth Management Update

July AFRs and 7520 Rate
 
One Big Beautiful Bill Act: Tax Credits for School Choice Scholarship Program
 
In re Herbert Irrevocable Family Trust, No.367338, slip op. (Mich. Ct. App. Apr. 30, 2025)
 
In re Sherrod Estate, No.369863, Slip Op. (Mich. Ct. App. March 18, 2025)
 
Estate of Spizzirri v. Commissioner, No. 23-14049 (11th Cir. 2025)
 
Estate of Griffin v. Commissioner, T.C. Memo. 2025-47, No.15938-23
 
Layton v. Layton, 2025 PA Super 111
 
In re Estate of Mueller, No. 127,532, 2925 BL 195526 (Kan. App. June 6, 2025)

on July 2025

Proskauer Advises Robert Wood Johnson on Agreement to Acquire Stake in Crystal Palace Football Club

on June 25, 2025

NFL Jets Owner Nabs Stake in Crystal Palace In $254M Deal

Partners Jon Oram, Jay Waxenberg, Amanda Nussbaum, Richard Miller, Adam Creed and Nathaniel Birdsall are for advising Robert Wood Johnson on his agreement to purchase a significant ownership interest in Crystal Palace Football Club.

From Law360 on June 23, 2025

Wealth Management Update

June 2025 AFRs and 7520 Rate
 
IRS Notice 2025-23
 
Pierce v. Commissioner, T.C. Memo 2025-29
 
WT Art Partnership LP v. Commissioner, T.C. Memo 2025-30
 
Nosirrah Management, LLC v. AutoZone, Inc., Case No. 2:24-cv-2167 (W.D. Tenn. Apr. 14, 2025)
 
Carlson v. Colangelo, 2025 N.Y. Slip Op. 02264 (N.Y. Ct. App. Apr. 17, 2025)
 
Monsalvo Velázquez v. Bondi, 604 U.S. ___ (2025)
 
In the matter of the CES 2007 Trust, C.A. No. 2023-0925-SEM

on June 2025

Wealth Management Update

May 2025 AFRs and 7520 Rate
 
Estate of Kalikow v. Comm'r, 2025 WL 686037 (2nd Cir., March 4, 2025) 
 
Estate of Galli v. Comm'r, Tax Ct. Dkt. Nos.: 7003-20, 7005-20
 
PLR 202509010

on May 2025

Wealth Management Update

April 2025 AFRs and 7520 Rate
 
J.M. v. G.V., 225 N.Y.S.3d 859 (N.Y. Sup. Ct. 2025): Maintenance Calculations May Need To Be Included in New York Prenuptial Agreements 
 
Key Questions to Answer in Determining How IRS Disaster Relief Will Affect a Given Taxpayer or Deadline
 
PLR 202506004: Mixed Charitable and Non-Charitable Application of Retirement Accounts Provides Opportunities and Pitfalls with New PLR Reasoning

on April 2025

Wealth Management Update

March 2025 AFRs and 7520 Rate
 
Seabrook Property, LLC v. Commissioner (TC Memo 2025-6)
 
IRS Announcement 2025-2
 
Private Letter Ruling 202504007 (January 31, 2025)
 
Chief Counsel Memorandum 202504014

on March 2025

Wealth Management Update

February 2025 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
 
Nosirrah Management, LLC v. AutoZone, Inc., (W.D. Tenn. November 15, 2024)
 
In the Matter of the Petition of Richard S. Myers and Erin Langan (N.Y. Div. of Tax Appeals, ALJ)
 
Udell v. Udell (Fla. 4th DCA 2024)

on February 2025

Wealth Management Update

January 2025 AFRs and 7520 Rate
 
In re Estate of Jesse L. Beck, 557 P.3d 1255 (Mont. Oct. 29, 2024) – Montana Supreme Court Holds That a Cell Phone Video Cannot Be Admitted to Probate
 
Memorial Hermann Accountable Care Organization v. Commissioner, 120 f.4th 215 (5th Cir. Oct. 28, 2024) – Fifth Circuit Does Not Apply Treasury Regulation, Illustrating the Effects of the Loper Bright Decision
 
In Re James A. Reed Trust, No. 366701 (Mich. CT. App. Nov. 14, 2024) – Michigan Court of Appeals Reforms Trust to Comport With the Settlor’s Intent
 
IQ Holdings, Inc. v. Commissioner, t.c. Memo. 2024-104 (Tax CT. Nov. 7, 2024) – Tax Court Disallows Charitable Deduction Due to Lack of Contemporaneous Written Acknowledgment
 
In Re Estate of William F. McLoughlin, 104 Mass. App. CT. 752 (App. CT. Sept. 30, 2024) – Massachusetts Appeals Court Finds That Providing an Affidavit in Support of an Action Contesting a Will Did Not Violate the Will’s in Terrorem Clause
 
Godoy v. Linzner, 106 cal.app.5th 765 (CT. App. Nov. 13, 2024) – California Court of Appeal Invalidates Amendment to Trust as a Restraint on Alienation
 
Will of Richard Feigen, No. 2021-1075 (N.Y. Sur. Ct. Westchester Cnty. Nov. 29, 2024) – Westchester County Surrogate's Court disqualifies attorney and law firm under the Advocate-Witness Rule

on January 2025