Estate of Denial news clips (6/7/17)

IRS Can Choose Whether to Encumber Non-Probate Assets

WealthManagement.com

May 30, 2017

Estate of Myers v. Commissioner1 is an important estate-planning case as it suggests the Internal Revenue Service can pursue unpaid estate taxes against its choice of beneficiaries, probate or non-probate. In addition, it indicates that the IRS has no obligation to file a special estate tax lien against non-probate assets as the lien arises on the estate’s creation without requiring any IRS action at all. Thus, the IRS has no chance to abuse discretion in continuing a lien and proposing levy action.

 

End of inheritance: changes to law means parents can cut children out of their wills (IRE)

Irish Independent

May 30, 2017

Parents will no longer have a “moral duty” to leave an inheritance for their children under proposed changes to the law.

A Law Reform Commission report proposes the amendment of a law so it will simply state that a deceased parent has a duty to make “proper provision” for a child.

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