Using Your Elderly Parent’s Unused Estate Tax Exemption to Obtain a New Step-Up in Basis This article has nothing to do with the Rolling Stones song by the same name, but for a tax lawyer to get the attention of some that are less tax oriented, one has to be a little creative. Indeed, the…

The Florida legislature recently enacted legislation which beefed up the previously modest (7 page) statute concerning powers of attorney under Chapter 709 into a comprehensive set of provisions that is now known as “The Florida Power of Attorney Act” (hereinafter “The Act”) which became effective on October 1, 2011 (now 27 pages in length). Due…

Changes to income taxes grabbed the lion’s share of the attention as the President and Congress squabbled over how to halt the country’s journey towards the “fiscal cliff.”  However, negotiations over exemptions and tax rates for estate taxes, gift taxes and generation-skipping taxes also occurred on Capitol Hill, albeit with less fanfare. The primary fear…