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2704 Regulations Explained: Proposed Rules Negating Gift and Estate Tax Valuation Discounts May Ensnare Your Vacation Home Too

September 20, 2016 2704 Regulations

As mentioned in several recent posts, the proposed regulations under Code Section 2704 are aimed at reducing valuation discounts associated with transfers of interests in family-controlled businesses. So that the proposed regulations capture certain entities that may be disregarded for federal income tax purposes, such as single-member limited liability companies,…

Florida Updates Power of Attorney Laws

October 19, 2011 Trusts & Estates

A power of attorney is a key component of a comprehensive estate plan. In general, a power of attorney allows a person (a “principal”) to appoint someone to act on his or her behalf (an “agent”) with respect to the management of the principal’s property and financial affairs. A power…