Probate & Estate Planning

In a positive development for closely-held business owners and their families, the Treasury Department recently recommended the complete withdrawal of its proposed tax regulations that would have severely limited the application of valuation discounts to transfers of partial interests in family businesses and other assets for gift, estate, and gen… Continue Reading

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The FDA has issued a safety alert to consumers involving several dietary supplements including Rhino 7, Papa Zen, Fifty Shades, and Grande X. The safety alert warns consumers that the products may include undeclared active prescription drug ingredients. The products are labeled as a dietary supplement and each is packaged as a blister pack capsule.... Continue Reading
Avoiding Repair Fraud After a Disaster U.S. Virgin Islands residents affected by recent back-to-back Category 5 Hurricanes Irma and Maria have already absorbed a crippling blow in the form of damaged homes, lost roofs and possessions, and significant interruptions in business and employment. As if this isn’t enough, Virgin Islanders now face another growing concern: repair scams. Insurance and repair scams...… Continue Reading

With proper planning, owning vacation property with other family members can be a pleasant and even bonding experience. The key is to determine, as early as possible, what the parties expect and desire from the property ownership and the most effective and efficient manner of ownership.

Often times, family members will inherit or receive as a gift vacatio… Continue Reading

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Rarely do estates get a “second look” at tax decisions.  However, this summer the IRS provided some executors, trustees, and surviving spouses an opportunity to revisit an important estate tax planning decision made years ago. Background:   As you probably know, the IRS assesses an estate tax on large estates.  The estate tax rate is 40%. … Continue Reading