OUR PHILOSOPHY

At Katz Baskies Wolf PLLC we are dedicated to providing premier legal service to clients engaged in private wealth creation, preservation, management and transfer, for themselves, their families, and the community.

Our practice areas include the broad scope of income tax planning, sophisticated wealth transfer planning (including gift and estate tax planning), estate and trust administration, prenuptial and postnuptial agreements, and documentation of corporate and partnership transactions applicable to entrepreneurs.

 

 

NEWS OF INTEREST

Jeff Baskies - The Scottie Pippen Case is a Good Reminder that Florida Property Appraisers Enforce Homestead Laws, and There are Complex Issues with Trying to Own a Florida Homestead AnonymouslyIn December, Scottie Pippen (as Trustee of his revocable trust- as landlord) sued the renters of his Florida mansion alleging over $100,000 in damages. The complaint was e-filed on December 3, 2018 and is available online.

 

Possible Estate Planning Strategies Arising From The Tax Cuts and Jobs ActThe Tax Cuts and Jobs Act (TCJA), signed Into law on December 22,2017, and effective as of January 1,2018, increased the lifetime gift tax exemption from $S million ($5,490,000 for 2017 as adjusted for inflation) to $10 million ($11,180,000 for 2018 as adjusted for inflation). This increase presents planners and their clients with a tremendous opportunity to transfer more wealth without paying any federal transfer tax. For some clients, the tax changes will allow them to transfer additional sums to already existing irrevocable trusts, or to reduce any outstanding debts by reducing or eliminating existing promissory notes. Other clients may terminate QTIP trusts or use their exemptions on new planning strategies altogether.

 

Jeff Baskies on Ramos v. Motamed: Gym Records Blow Up Bogus Asset Protection Plan in a Novel Florida Homestead Exemption CaseIn a novel Florida homestead case, a debtor’s claim to a homestead exemption (from his creditors’ claims) was denied when the evidence in trial (including his gym records) belied his claim of being a Florida resident.

 

 

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