Sections SEARCH Skip to content Skip to site index Real Estate Log In Log In Today’s Paper Real Estate | Trump’s Childhood Home Goes Back on the Auction Block Advertisement Supported by After an unsuccessful attempt to sell at $2.9 million and time on Airbnb, the Tudor-style home in Queens seeks a highest bidder. ByStefanos Chen Sept. 17, 2019 Updated 6:38 a.m. ET President Trump’s childhood home in Queens, N.Y., is once again heading to the auction block, after an unsuccessful attempt to sell at $2.9 million The auction will conclude on Nov. 14, after a review of qualified bidders who submit written offers and a It last sold for $2.14 million in 2017 to a limited-liability company represented by a law firm that specializes in Chinese foreign investment, but it is not clear that the home where Mr. Trump spent the first four years of his life is now owned by a Chinese investor. The … [Read more...] about Trump’s Childhood Home Goes Back on the Auction Block
Auctioning an estate
While individuals will eventually pass on, the internet is forever. Online accounts from games, apps and social media are becoming increasingly valuable. In an age of expanding online presence, estate planners and administrators should take into account the digital life of the client or the decedent, even if online accounts may not always trigger ownership or property issues.Confronted with the growing problem of how to treat the deaths of account holders, Facebook recently put into place a mechanism by which an account holder may designate a "legacy contact" to administer her or his Facebook account after the account holder's death. This digital personal representative can then update the profile, write a post on the profile to share a message or information, and change the profile picture and cover photo of the deceased user. Facebook also allows users to give advance directives as to how the account does or does not live on after death. Twitter and LinkedIn have yet to create such … [Read more...] about Estate Planning for the Digital Life
A recent Tax Court case highlights some of the issues faced by estates that own valuable artwork and the need to account for artwork as part of estate planning and estate administration. Artwork is an important aspect of estate planning and administration because artwork can affect the estate’s overall value, and can result in substantial estate or inheritance taxes. Artwork is a non-revenue producing asset that can make financing taxes more challenging, particularly when there is no advanced planning. Valuable artwork is subject to substantial changes in value, depending on market conditions.This case involved a dispute over the value of fine artwork owned by a sophisticated art collector. The Estate owned three exquisite and valuable paintings: (1) “Tĕte de Femme (Jacqueline)” by Pablo Picasso; (2) an untitled piece by Robert Motherwell; and (3) “Elément Bleu XV” by Jean Dubuffet. The Picasso was by far the most valuable, selling at auction in … [Read more...] about Can Artwork Affect My Estate?
Due to impending changes in the law and the economy, several estate and financial planning opportunities and techniques may soon disappear or be drastically curtailed. Other changes are in legislation that is currently pending. We recommend prompt action by all persons who may be affected by these changes, starting with a call to a member of the Estate Planning Group of Vedder Price P.C. Executive SummaryThe following is an executive summary of the key changes; a more detailed discussion of each can be found inside this Bulletin:GRATs May Soon Have Their Wings Clipped. Pending legislation would greatly reduce the effectiveness and tax benefits of a grantor retained annuity trust (GRAT), which is one of the best wealth transfer techniques. The proposed legislation would not be retroactive, so there is still time to set up one or more GRATs using the current favorable rules. The time to create a GRAT is now. Estate Taxes May Not Be Reinstated in … [Read more...] about Carpe Diem: Prompt Action Required to Take Advantage of Estate and Financial Planning Opportunities
Sections SEARCH Skip to content Skip to site index Europe Subscribe Log In Subscribe Log In Today's Paper Advertisement Supported by ByIliana Magra Aug. 1, 2018 LONDON — Are you in the market for 1,200 rolls of toilet paper? A broken Dyson vacuum cleaner? A Sony camera in unknown working condition — which doesn’t come with a charger? If so, you’re in luck. The United States Embassy in London is holding an online auction in which you can also find a used Volvo S80, a photocopier, a printer table and 22 plastic chairs, among other items. This is far from the first auction to be held in the embassy in London, but it might be the only one to have garnered so much attention online. In January, the embassy moved from a building listed as having high architectural interest, in the upmarket Grosvenor Square in central London, to a fortified, high-tech glass construction on a redevelopment site near the River Thames. … [Read more...] about U.S. Embassy in London Puts Surplus Goods Up for Auction