Revenue Ruling 2023-2

Equity Strip

Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…

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Lottery Winner Now What

Lottery Winner Now What

I Won The Lottery, Now What? We have represented many lottery winners over the years.  If you are a lottery winner, “Now what?” is the question on your mind.  We approach this question with our clients not just from a legal or financial perspective, but from from the view of its wholistic impact on both…

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Estate Planning for Hyper Inflation

Estate Planning for Hyper Inflation

Hyper Inflation Planning for inflation is challenging.  Inflation is a tricky monster.  It creates the illusion of an increase in value.  When prices go up, things are worth more.  Right?  Wrong!  With inflation, prices go up, but value remains the same.  In reality, inflationary price increases mean the currency is worth less.  Inflation means that…

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Buy Sell Agreement

Buy Sell Agreement

Buy Sell Agreements A Buy Sell Agreement is part of a succession plan to decide in advance what will happen with a business when certain events occur.  Such planning is crucial for any business with multiple owners.  It is important both when the owners are related to each other and when they are NOT related to…

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