News & Insights
How Does Portability Effect Your Estate Plan?
March 26, 2019Portability is the term used to describe a relatively new provision in federal estate tax law that allows a widow or widower to use any unused federal estate tax exemption of his or her deceased spouse to shelter assets from gift tax during the surviving spouse’s life and/or estate tax at the surviving spouse’s death.
Digital Assets
A Private Clients Group White Paper
Digital assets include photos and videos to music, whether on devices or in the cloud, as well as email accounts, social networking accounts, internet domain names, blogs, online gaming items, and client lists and other electronic files
Falling From Legislative Grace
March 25, 2019The charitable deduction is meant to incentivize taxpayers to contribute to charities, not find ways to cheat the system.
Trusts & Estates Magazine Website
The IRS Man Cometh for College Admission Scammers
March 25, 2019The charitable deduction is meant to incentivize taxpayers to contribute to charities, not find ways to cheat the system.
Trusts & Estates Magazine Website
Sick of Paying State Income Taxes?
A Private Clients Group White Paper
March 24, 2019Every year as clients file their income tax returns, we field questions about how to be considered a resident of another state (often a state with no state income tax) to reduce or eliminate state income taxes.
Robert L. Lancaster Provides Expert Testimony Before Florida Senate and House on Decedent’s Property
March 24, 2019Recently Robert L. Lancaster, a Principal in Cummings & Lockwood’s Private Clients Group in the Firm’s Naples, Florida office, served as an expert for the Real Property Probate Trust Law Section of the Florida Bar in connection with pending legislation in Florida relating to Decedent’s Property.
Cummings & Lockwood Attorneys Represent Owner in One of the Largest Commercial Lease Transactions in Fairfield County Over the Last 25 Years
March 20, 2019Cummings & Lockwood is pleased to announce that it has assisted its client, George Comfort & Sons, Inc., in closing a major global headquarters lease at the former UBS site at 677 Washington Boulevard in Stamford, Connecticut.
Have You Ever Been Asked to Serve as Trustee of a Trust? What Does That Mean for You?
March 17, 2019Have you ever been asked by a family member or friend to serve as Trustee of a trust for the benefit of their children or family members?
Client Alert - Connecticut's Changes to Estate and Gift Tax Exemptions - Confirmed!
March 11, 2019In 2019, the Connecticut exemption amount from estate and gift tax has been increased from its prior level of $2,600,000 per individual to $3,600,000. As we have reported, there has been some confusion as to what is to occur in 2020 and future years because in May of 2018, Governor Dannel P. Malloy and the Connecticut legislature enacted two different bills with respect to the Connecticut estate and gift tax.
2019 Connecticut Legal Awards
March 6, 2019Cummings & Lockwood is delighted to announce that Partners, Howard S. (Terry) Tuthill III and Edward F. Rodenbach have been selected as 2019 Best Mentor Honorees by the Connecticut Law Tribune for the 2019 Connecticut Legal Awards.
Relocating to Florida
A Private Clients Group White Paper
Drawing upon the experience we have gained through advising our existing clients, we have summarized certain local procedures and laws which may be helpful to you in preparing to live in or establish domicile in Florida
Governor Lamont’s Budget Proposal Includes Potential Changes to Connecticut’s Estate and Gift Tax
February 19, 2019Governor Lamont’s proposed budget titled “A Path Forward” for Fiscal Year 2020 and 2021 was announced on February 20, 2019 (the “Proposed Budget”) and includes changes to Connecticut’s estate and gift tax regime.