Calvary Hospital will host its 15th Annual Trusts and Estates Conference at the Roosevelt Hotel in New York City on October 3, 2018. This invitation-only event attracts more than 300 of New York’s most experienced trusts and estates attorneys. Over the past decade, Calvary’s attorney conference has earned a reputation as a must-attend event for trusts and estates practitioners.
Would it surprise you to learn that the largest segment of the population getting divorced in the last decade or so are those over 50? There are a number of reasons for the growing “Gray Divorce” trend including: the sheer population of the baby boomer generation; people getting married later and thus divorcing later; a higher rate of second, third, fourth marriages which are more likely to end in divorce; and people living longer and wanting to spend their golden years being happy rather than staying in a relationship that is no longer working.
Starting on page 191, the recently passed Senate Tax Bill would bring some change to the taxation of carried interest. The Senate Tax Bill would insert into the IRC a new Section 1061 - Partnership Interests Held in Connection with Performance of Services. This new section provides that, for applicable partnership interests, capital gains previously classified as long-term will be treated as short-term capital gain unless the gains were generated from assets held for more than three years.
The Senate passed its tax bill on December 2nd by a 51-49 margin. Some key points include: