Investors who currently hold interests in Qualified Opportunity Funds (“QOFs”) should consider a potential year-end planning opportunity: selling their QOF investment before December 31, 2026, and reinvesting in 2027. Done correctly, this may postpone tax for up to another five years after the new investment. However, the strategy comes with…
Florida probate cases are different from most civil proceedings. In a civil lawsuit, there is usually one final judgment that ends the case. In Florida probate proceedings, however, there can be many separate rulings over months or years that impact the course of the probate and the rights of beneficiaries.…
The Issue New York City has a new tax aimed squarely at high-value second homes. New York’s new Pied-à-Terre Tax (“PAT Tax”) is imposed on residential real property owners in New York City who use such property as a secondary residence or an investment.[1] It reaches one-to-three-family homes, residential condominium…
When creating a trust in Florida, you may want to protect your privacy and control when and how a beneficiary learns about the trust you created. This can be especially important when a family has young beneficiaries or complicated relationships. If you release information too soon, it could create unintended…
When people think about estate planning, they usually focus on who will receive their assets at death. An equally important question that often gets overlooked is: If estate tax is owed, who actually bears the estate tax? This issue is known as “estate tax apportionment.” A helpful way to think…
Comiter Singer
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