This short essay introduces a special issue of the ACTEC Law Journal devoted to the estate planning jurisprudence of the Supreme Court of the United States. The issue includes two invited essays on the role of the court in developing the law in this area, as well as commentaries on seventeen of...

This article examines three defences potentially available to the Inland Revenue after it has spent taxes received pursuant to ultra vires legislation – the defence of estoppel, ministerial receipt, and change of position. It concludes that the change of position defence is the most viable...

Sole entrepreneurs overwhelmingly choose the single-member limited liability company (SMLLC) as the business entity for their operations. Consequently, simplicity of formation and operation of SMLLCs is highly desirable, both to facilitate entrepreneurship and to acknowledge that costs, lack of...

This article is about lawyers as negotiators, and in particular, it is about identifying and understanding the influential and potentially competing interests that are - or at least should be - in the minds of lawyers (and potentially other third party representatives) during the overall...

Is that trust an ordinary trust or a business trust? The tax man says it makes a difference. Business lawyers commonly assume that trusts formed for their clients will be taxed as ordinary trusts under federal income tax rules. This generally means trust income is taxed to the beneficiaries when...

In general, people of modest wealth cannot easily afford to give up significant amounts of wealth during lifetime to achieve estate planning goals, although the lifetime transfer of wealth is one of the most useful techniques for reducing taxes. Individuals of modest wealth face a real tension...

The concept of using legal structures to protect property from those who might otherwise have some claim to it is an idea with deep roots. The trust device is one such legal structure, and its evolution as an asset protection device has not been without controversy. The recent and noticeable...

This article critically examines the conflicting estate tax definitions of family in I.R.C. Sections 2036, 2032A and 6166. The sections use terms such as family and related in ways that conflict with each other and with lay understanding of the terms. From an historical perspective, the multiple...

Many Catholics do not know that canon law allows their bishop to impose taxes on the parishes in his diocese for diocesan needs. Under canon law, these diocesan taxes, sometimes called diocesan assessments, parish assessments, or quotas, must "be proportionate to [the parishes'] income." To a...

Section 6751(b) of the Internal Revenue Code requires supervisory approval in writing prior to assessment of certain penalties. Enacted in 1998 as part of the Internal Revenue Service (“IRS”) Restructuring and Reform Act, the statute’s purpose was to prevent IRS agents from using penalties...