News & Articles
Beginning on July 1, 2017, a new Uniform Power of Attorney Act (the “UPOAA”) will apply to most written, general financial Powers of Attorney (“POAs”) created by individuals in Georgia. This Newsletter is Part 2 of our 3-part series on the UPOAA.1 Part 1 covered the most important aspects of the UPOAA other than the power provisions. This Part 2 covers the power provisions. Part 3 will review the Statutory [...]
NEWS ALERT: With Revenue Procedure 2017-34, the IRS Effectively Allows a Two-Year Window for Portability Elections in Smaller Estates and Grants an Easy Second Chance at the Election for Some of Them
by Loraine M. DiSalvo - Prior to 2010, the federal estate tax exemption (now known more commonly as the “Basic Exclusion Amount”) was a use-it-or-lose-it benefit...
Beginning on July 1, 2017, a new Uniform Power of Attorney Act (the “UPOAA”) will apply to most written, general, financial Powers of Attorney (“POAs”) created by individuals in Georgia. This Newsletter is Part 1 of our 3-part series on the UPOAA. Part 1 covers all aspects of the UPOAA other than the power provisions, Part 2 will cover the power provisions, and Part 3 will review the Statutory Form [...]
As I type, I am sitting in the New Orleans airport waiting for my flight home. I have just attended the 11th Annual Conference of the Academy of Special Needs Planners, and my brain is spinning with new information and new ideas as to how I can apply those ideas to my clients. I feel charged with energy, enthusiasm and renewed purpose and vision.
In the legal profession, precedent is a key pillar of litigation. Cases are almost always stronger when an attorney can establish precedent—a prior court decision or other proceeding that serves as authoritative support for a particular argument. Precedent comes in many forms, but
NEWS ALERT: Another Important IRS Filing Due by May 1, 2017, for Those Involved with Conservation Easements (IRS Notice 2017-10)
The Internal Revenue Service (IRS) has moved to put a yield sign in front of anyone wanting to invest in a syndicated conservation easement to gain a charitable tax deduction and, in this regard, has issued a Notice which retroactively applies to transactions entered into on or after January 1, 2010. The Notice states that the described type of transactions, or any substantially similar to it, will be considered as [...]
Richard M. Morgan and Loraine M. DiSalvo Named to Super Lawyers of Georgia List for Fifth Consecutive Year
Estate Planning Attorneys Morgan and DiSalvo, P.C. announced today that both Richard M. Morgan and Loraine M. DiSalvo were named to the Super Lawyers of Georgia 2017 List. No more than five percent of the lawyers in the state are selected to receive this honor. Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree [...]
Big Changes Are Coming To The GA Trust Code, But Likely Not Until July 2018! (Originally Published March 2017 & Updated May 2017)
By Richard Morgan Many state legislatures over the last decade or so have been on a mission to modify state laws to become more friendly as to estate and trust laws. These changes have included, among others, the extension of the rule against perpetuities safe harbor from 90 years to either 360 years or longer, or a total termination of the rule (which effectively extends the number of years a [...]
NEWS ALERT: Important IRS Filings Due by May 1, 2017, for Those Involved with Micro-Captive Insurance Companies (IRS Notice 2016-66, as Modified by IRS Notice 2017-08)
The IRS has moved to put a yield sign in front of anyone creating or utilizing a micro-captive insurance company under IRC Section 831(b) by designating all (or mostly all) such micro-captives created on or after November 2, 2006, as transactions of interest which have significant notice requirements. These include the need for captive owners to file IRS Forms 8886 and every material adviser, which is anyone involved in a [...]
Morgan and DiSalvo, P.C. is pleased to announce that partner Loraine DiSalvo has been named one of Georgia Trend magazine's "Legal Elite" for 2016. For the past 14 years, Georgia Trend has asked the state's attorneys to nominate lawyers they think are the best in their field. This year's group of Legal Elite represent nearly 300 law firms in more than 30 cities across Georgia. "It is a true honor [...]