by Leslie Marenco | Oct 7, 2014 | Articles, Business/ Corporate Law, Estate Planning, High Net Worth
The removal of a trustee from a trust can be a difficult and time consuming process for both beneficiaries and trustees alike. Courts are generally hate to interfere with a settlor/creator’s choice of trustees. However, most states provide trust beneficiaries a...
by Leslie Marenco | Aug 18, 2014 | Articles, Celebrity Estates, High Net Worth, IRS, Liens/Debt
MC Hammer was at one point in time the biggest rap artist on the planet. Now two decades later, MC Hammer is probably more famous for his tax issues – which seem to be never ending. It goes to show you, the Internal Revenue Service doesn’t quit when it comes to...
by Leslie Marenco | Aug 17, 2014 | Articles, Estate Planning, Estate Tax, High Net Worth, Non - US Citizen, Trusts
This is South Florida so I commonly encounter married couples with mixed nationalities. That is, one spouse is an American citizen and the other is not. The U.S. estate and gift tax rules are generally the same for U.S. citizens and resident aliens. However, the...
by Leslie Marenco | Aug 12, 2014 | Articles, Estate Tax, Gift Tax, High Net Worth
With tax rates somewhat higher than in prior years based on increases in income taxes, capital gains, and the new so-called Medicare tax, (which is basically an investment income tax for those who earned more than $200,000 if single and $250,000 if married) the net...
by Leslie Marenco | Aug 10, 2014 | Articles, Celebrity Estates, Estate Planning, Estate Tax, High Net Worth, Probate, Wills
James Gandolfini, who won three Emmy awards portraying mob-boss Tony Soprano for eight years on HBO’s The Sopranos, died on June 19th, 2013 in a very unexpected manner. That day, he was touring Rome with his 13-year old son, Michael, when he suffered the sudden and...
by Leslie Marenco | Aug 10, 2014 | Articles, Celebrity Estates, Estate Planning, High Net Worth, Trusts
When news breaks that multiple celebrities within a month’s time are cutting their kids out of their estate plans, it’s not hard to see which way the wind is blowing… Not wanting their children to be unmotivated “trust fund” brats that...
