showing results for: mark holmes
KYEstates issued a high-stakes challenge here in our discussion of the taxpayer FLP win in Estate of Petter v. Comm’r, T.C. Memo. 2009-280, 2009 WL 4598137 (U.S. Tax Ct. 2009). We said: Count not your day a loss: you have now read the phrase glommed onto in a Federal court’s opinion. Find that phrase in another […]
Our previous post explored a model of the cost of the promise you make to yourself to fund your retirement, but that model omitted a very important real-world risk: volatile equity markets. Most recently, the 2008 stock market crash changed many retirement plans for the worse. A 2009 study by the Urban Institute, “What the 2008 Stock […]
I think “budgets” are the reason many more people don’t have a sensible strategy for reaching their financial goals. The word “budget” creates obstacles in two ways. First, budgets imply choices, tradeoffs, and the unpleasant word “no.” Second, most people lack even half the clarity about their spending that’s required to make a reasonably accurate budget. Without good […]
Anyone who has been following Elena Kagan’s confirmation hearings is up to speed on the judicial activism/strict construction debate. Strict construction of an exclusion from taxable income powered a notable win for the IRS in Gates v. Comm’r, 135 T.C. 1 (July 1, 2010), a very interesting income tax case that will have implications for private […]
KYEstates often dicusses asset protection developments, and we’re pleased to share a really fascinating Florida decision, Miller v. Kresser, — So.3d —, 2010 WL1779899 (Fla. 4th DCA 2010). Juan Antunez broke the news that this is surely a season of May flowers for asset protection planning. There won’t often be victories for pure judicial formalism […]
It’s possible KYEstates readers are focused on the Paul–Grayson Senate race, or the Louisville mayoral race (see latest polls here, and here, respectively). If you want a break from politics, however, we can take you back to the normal state of things (i.e., all transfer taxes, all the time) with a report on a truly resounding taxpayer […]
Lately I’ve been thinking a lot about what a “Corporate Event” at Humana might mean for Louisville. A rosy analysis I’ve heard suggests that Aetna might buy Humana, and then move its headquarters here. We’d all love that outcome (sorry, Hartford). Other Humana transactions may have collateral effects on our city that are, to put it […]
I believe effective life cycle estate and financial planning is anchored in the Quadrant of Facts, Forecasts, Life Stages, and Unexpected Events. Over the past several weeks, ten posts covered a lot of territory about Facts and Forecasts. This is a pivot point at which we begin exploring planning issues in the first of several Life […]