spouse Archives

Surviving Spouse Not Liable for FBAR Penalties

Cases, Compliance, District Court, Estate Administration, Tax, Tax Controversy

Mar 27, 2025

We have previously written about the requirements to file a Report of Foreign Bank and Financial Accounts (“FBAR”) for foreign bank accounts held by US taxpayers pursuant to the Bank Secrecy Act.[1] In a recent case out of the United States District Court for the District of Idaho, the Court ruled that a decedent’s widow…
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Advanced SLAT Issues

Asset Protection, Estate Administration, Estate and Gift Tax, Estate Planning, Fiduciaries, Income Tax, State and Local Tax, Tax, TCJA

Mar 30, 2022

In a previous article, we discussed the basics of Spousal Lifetime Access Trusts (“SLATs”).[1] Generally, SLATs are irrevocable trusts established by one spouse during such spouse’s lifetime with the other spouse being a beneficiary of the trust. Often both spouses will establish a SLAT, but they must be carefully structured and administered to prevent application…
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Tag: spouse

Surviving Spouse Not Liable for FBAR Penalties

Advanced SLAT Issues

Directions

Frivolous Arguments Fail to Hold Water – Tax Court Sanctions Taxpayer

Recent Appellate Case Addresses Undue Influence

Mississippi Supreme Court Reverses Alimony Award Between Two Estates