Posts by mahearn

In today’s climate of low interest rates, many people are thinking about modifying existing promissory notes to take advantage of lower rates for a longer period of time.  The willingness of financial institutions to cooperate with the desire to take advantage of lower rates varies.  In the context of a sale between related parties, however,…

On May 23, 2012, the Estate and Succession Planning department in the Orlando office at Dean Mead made a presentation to over 90 professionals on estate planning for the remainder of 2012.  As you may be aware, the lifetime gift exclusion for an individual in 2012 is $5,120,000, but is scheduled to revert back to $1 million…

We previously posted on the gift tax implications of terminating a Qualified Terminable Interest Property Trust (“QTIP”) before the death of the surviving spouse (“spouse”).  To recap, a termination of a QTIP trust whereby the spouse relinquishes his or her entire interest in the trust gives rise to taxable gifts by the spouse under Code…