General Interest

Announcing the KYEstates Estate Tax Forecasting Contest

KYEstates readers, do you miss the halcyon days of 2003, when Howard Dean told us that “you have the power“? We can’t bring those days back, but we are happy to report that in 2010: You have the power…to let your own voice be heard about what is going to happen with the estate tax. [...]

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Mr. Filburn, Meet Mr. Attlee – Taxes, The Health Care Bill, and You

Unless you are a truly basketball-crazed KYEstates reader, by now you are well aware that the Health Care Bill passed the House last night.  This legislation is significant, and that is an understatement. Both supporters and detractors of the bill might see this as America’s analogue to July 5, 1948, when the Attlee Cabinet’s National [...]

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A Big News Day: Section 7520 Rate Stays Put, 10 Year GRAT Legislation, Gov. Beshear Signs HB 188!

KYEstates readers – this was a big day in the world of T&E.  Perhaps not epochal, but at least big. 1) Good news for procrastinators: although interest rates may be headed up, for April, AFRs are virtually unchanged from March levels, and the section 7520 rate has not budged.  For details, see Rev. Rul. 2010-11 [...]

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If Your Bank Trustee Fails, What Happens To Your Trust Account?

A recent post on The Trust Advisor Blog (courtesy of Wills, Trusts & Estates Prof Blog) discusses this regrettably timely question: “What happens to trust accounts held by a bank fiduciary when the bank fails?” The good news is that no federally insured financial institution with the legal power to operate as a trust company [...]

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Forecasting the Fate of the Estate Tax

Today KYEstates is one month old!  The site has grown quickly, along with readership in the T&E Community and elsewhere — thank you, readers!  It’s a Friday in early springtime, so it’s already a good day.  Let’s make it even better, shall we, with a quick review of recent reports on the status of the estate [...]

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Kentucky Legislative Update: HB 188 Passes Senate; Awaits Governor’s Signature

In welcome news for the Kentucky T&E Community, HB 188 passed the Senate unanimously yesterday.  (Status update here.)  KYEstates encourages Governor Beshear to sign the bill.  We’re on the verge of some welcome improvements to Kentucky’s probate laws.  (Thanks to Jim Worthington for alerting KYEstates to this good news.)  For detailed coverage of HB 188′s [...]

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Is the recession ending in Louisville?

KYEstates readers – you may find this Business First summary of the Fed’s most recent “Beige Book” interesting.  Although the detailed report contains mixed signals, overall, it does suggest that as we exit an unusually cold and snowy winter, we may also be starting to exit our Winter of Discontent, the Great Recession.

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An Early Springtime In Frankfort: HB 188 Advances in Kentucky Senate

KYEstate$ has previously reported on HB 188.  In an important development in Frankfort on March 4, HB 188 was reported favorably by the Kentucky Senate’s Judiciary Committee.  The bill has been placed on the Senate’s consent calendar, and prospects for its passage look reasonably positive.  The bill’s status report is here. Representative Tom Kerr was [...]

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Breaking News: E.On Considering Sale of LG&E

KYEstates is an advocate for locally owned, locally headquartered businesses in Kentucky.  Significant news hit the wires this morning: E.On, the German parent of LG&E, is considering selling LG&E and KU.  Potential bidders include Duke Energy, PPL, AEP, and Southern Co.  

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Estate Planning for the Virtual World

Joel Schoenmeyer publishes “Death and Taxes – The Blog“, and recently posted on an interesting article in Wired Magazine titled “Managing Your Digital Remains”. To be sure, all entrepreneurs solve problems, but only the really excellent entrepreneurs can grow profitable companies by solving problems you, the potential customer, didn’t realize you had.  In this instance, several start-ups [...]

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