On June 14, 2016, Governor Kasich signed House Bill 229 into law. The bill, which was over two years in the making, allows an Ohio family to establish its own trust company to serve as trustee for its family trusts. The legislation, co-authored by Rob Galloway of BakerHostetler’s Private Wealth Team, had been through a … Continue Reading
Now that Congress has implemented a relatively large per person federal gift/estate tax exemption (i.e., the per person federal gift/estate tax exemption is $5,250,000 in 2013, indexed for inflation), many think that estate tax consequences are no longer relevant in estate planning. However, New York residents and non-residents of New York who own assets located … Continue Reading
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