WHAT FOREIGN INVESTORS CONSIDERING U.S. PROPERTIES THAT MANUFACTURE, SELL OR DEAL WITH LIQUOR NEED TO KNOW ABOUT LIQUOR LICENSING FOR NON-US CITIZENS In August, for the first time ever, metro Phoenix was among the top 10 U.S. markets in terms of foreign investment in commercial-real-estate assets*. A liquor license can be essential to the success of [...]

The Department of Labor (“DOL”) recently issued and has now finalized regulations under ERISA §404(a) which are commonly referred to as the “Participant Fee Disclosure Rules” (“Rules”). These Rules require participant-directed qualified retirement plans to issue both an annual participant fee disclosure and quarterly disclosures. For most plans, including calendar year plans, this initial annual [...]

                                     CUSTODIAL ACCOUNTS                              Many individuals have created custodial accounts under the Uniform Transfer to Minor Act (UTMA) or Section 529 College Savings Plan accounts for minor children and/or grandchildren.  In each case, an adult is named as the custodian of the account held for the benefit of the minor child.  This article addresses [...]

The revocable living trust has been a significant estate-planning tool for many years, and remains the foundation upon which most estate plans are based. For that reason, it is important for people to understand how a revocable living trust works, the advantages of the arrangement and, most importantly, whether the advantages are applicable to their [...]

Most everyone is well aware of the health care debate that has dominated Congress over the past several months. Because there has been so much said about these Health Care bills and what they accomplish or do not accomplish, we thought that we would briefly address just those items from the bills that we believe [...]

In 2001, Congress enacted the Economic Growth and Tax Relief Reconciliation Act which gradually increased the estate tax exemption amount and reduced the estate tax rate over a period of 8 years. This 2001 Act also repeals the estate tax for 2010, but then the 2001 Act itself expires. The result is that the estate [...]

For those individuals with a desire to provide charitable benefits to non-profit organizations, the use of a charitable remainder trust can be a very effective way for a taxpayer to minimize both income and estate taxes, retain the income benefits from contributed property and eventually benefit the taxpayer’s favorite charity. If properly structured, the charitable [...]

The following are some of the important matters that family and friends should attend to when a loved one dies. IMMEDIATE STEPS TO BE TAKEN UPON DEATH Minor Children.   Are there minor children of the decedent who need immediate attention? Organ Transplant.   Determine from the decedent’s drivers license, wallet card, or Health Care [...]

Many individuals are surprised to learn that the proceeds from a life insurance policy which they own will be included in their taxable estate for federal estate tax purposes regardless of who is named as beneficiary under the policy. If a surviving spouse is named as beneficiary of a policy, the estate will receive a [...]