On July 27-29, 2016, Jerald David August and Ian Weinstock, Partners at Kostelanetz & Fink, LLP., spoke at the three-day component of the NYU Wealth Planning Conference at The Westin New York at Times Square as part of the Summer Institute in Taxation. The Wealth Planning Conference features a nationally-recognized group of speakers on a variety of wealth planning and tax planning subjects geared for high-net-worth individuals and owners of closely-held businesses.
Mr. August was the Chair of the three-day component of the NYU Wealth Planning Conference also spoke on the Repeal of the TEFRA (Partnership) Entity Level Audit Rules and an Update on The Estate Tax Savings from the Use of Family Limited Partnerships with NYU School of Law, Professor Emeritus, Guy Maxfield.
Ian Weinstock, whose practice spans a range of tax and estate issues, from sophisticated estate planning techniques for high net worth individuals to the administration of decedent’s estates to advising fiduciaries and beneficiaries on all aspects of trust administration led an engaging presentation for attendees on Planning for a Non-Citizen Spouse. Several basic estate planning techniques for U.S. people center around the unlimited Federal estate and gift tax marital deduction. However, in various key contexts the familiar rules that apply to married couples are turned on their heads when one spouse—typically, the recipient of assets—is not a US citizen.