General Posts

Continental Airlines could not recover pension distributions paid to pilots’ ex-spouses, despite “sham” divorces

Continental Airlines in Brown v. Continental Airlines, Inc., (2011, CA5) 2011 WL 2780505 was not entitled to recover pension plan distributions that were paid to the ex-spouses of a group of divorced plan participants, even though the payments were made on account of alleged “sham” divorces, since ERISA does not authorize plan administrators to consider the subjective intentions or good faith underlying a divorce. Beliveau Law Group: Massachusetts | Florida | New Hampshire The attorneys at

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In Zapara v. Comm, Court orders IRS to credit taxpayer with amount lost by its failure to timely sell seized stock

In Zapara v Comm (CA 9 7/18/2011) 108 AFTR 2d ¶ 2011-5084 , the IRS appealed Tax Court’s ruling to the Court of Appeals for the Ninth Circuit.  This appeal presented the question, inter alia, of whether the Tax Court had jurisdiction in a hearing conducted pursuant to 26 U.S.C. § 6330 to review the Internal Revenue Service’s failure to comply with its statutory mandate under 26 U.S.C. § 6335(f).  The Appeals Court conclude that it did

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AARP’s new study shows huge tolls on family caregivers

The AARP has published Valuing the Invaluable 201:1 Update The Growing Contributions and Costs of Family Caregiving showing huge tolls on family caregivers.  The 2009 estimated economic value of family contributions was approximately $450 billion. See National Public Radio article relating to the study.  (audio available) The Beliveau Law Group: Massachusetts | Florida | New Hampshire The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications),

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IRS formally ends gift tax probe of 501(c)(4) contributors

On July 7, IRS announced on its website that it will no longer pursue the issue of whether the gift tax applies to contributions made to Code Sec. 501(c)(4) social welfare organizations. An accompanying memo from IRS’s Deputy Commissioner for Services and Enforcement formalizes the decision with instructions to IRS personnel to stop pursuing the issue. IRS’s decision to throw in the towel on the issue comes in the wake of withering criticism from Congressional Republicans

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Tax Court ruling holds CEO could deduct legal fees incurred in defending against suit by disgruntled investor

In Ramig, TC Memo 2011-147, the Tax Court has concluded that a chief executive officer (CEO), who was also a board member and minority shareholder, could deduct legal fees in defending against charges that he made misrepresentations to an investor in the company. The legal fees were deductible under Code Sec. 162 as the ordinary and necessary expenses of his business of rendering services to his company as an employee.  The IRS argued that the suit

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Ninth Circuit Affirms Tax Court in Estate of Jorgensen v. Commissioner

The Ninth Circuit Court of Appeals has affirmed a March 2009 memorandum opinion of the U.S. Tax Court which held that a decedent’s estate included assets that she transferred to two family limited partnerships. There was no bona fide sale, and she retained control over the assets transferred. The Beliveau Law Group: Massachusetts | Florida | New Hampshire The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning

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Illinois has revised its power of attorney statute to address elder abuse

Illinois has enacted Public Act 96-1195 in an effort to curb the rise of financial abuse on elders by their agents under the power of attorney. The Beliveau Law Group: Massachusetts | Florida | New Hampshire The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and

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Ins and outs of multi-state estate planning and probate

July 2011 Author: Attorney David M. Beliveau Published by: Massachusetts Lawyers Weekly It is becoming more common for estate planning attorneys to have clients who own real estate in multiple states. Whether it is a cottage on a lake in New Hampshire or a snowbird getaway in Florida, understanding the similarities and differences of estate planning and probate law in the states most commonly encountered by Massachusetts attorneys is essential to competently managing such matters. All

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IRS issues private letter ruling on disclaimer executed by an estate

In PLR 201125009, IRS has privately ruled that a disclaimer made by a decedent’s estate of her deceased husband’s retirement benefits (including benefits that would have been payable under a disclaimer trust set up by his will) was a qualified disclaimer under Code Sec. 2518 of those benefits that were not yet accepted. As a result, the disclaimed benefits passed outright to the couple’s children. Margaret L. Cross-Beliveau, Esq., LL.M. The Beliveau Law Group: Massachusetts | Florida

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