April 21, 2016

ACTEC 2016 Annual Meeting Musings



Twelve seminars at the ACTEC 2016 Annual Meeting are summarized. Topics include: Current developments, changes in estate planning professional practices, assuring compliance with decedents’ wishes, household employee issues, tax penalties, urgent call issues, ACTEC Commentaries on Model Rules of Professional Conduct, trustee fees, charitable planning, retirement from professional practices, overview of various “acronym” strategies (GRAT, CLAT, QPRT, BDIT, BING, and sale to grantor trust) and interrupting unconscious bias....

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LEGACY PLANNING INSIGHTS

Estate of Holliday v. Commissioner, T.C. Memo 2016-51

March 2016



In Estate of Holliday v. Commissioner, T.C. Memo 2016-51, the Tax Court held that the assets in another decedent’s FLP were included in her estate under §2036(a)(1).

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Basis Consistency Temporary and Proposed Regulations

March 2016



Temporary and proposed regulations provide guidance (and surprises) regarding basis consistency and reporting requirements. Form 8971 and its attached Schedule A are used to provide basis information to the IRS and recipients of property from the gross estate.

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Pending Settlement of Woelbing Cases (Involving Sales to Grantor Trusts)

March 2016



A settlement has been reached in the Woelbing cases, which involved a sale to grantor trust transaction in which the IRS alleged that sections 2036, 2038, and 2702 applied.

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BESSEMER INSIGHTS

Quarterly Investment Perspective: Keep On Truckin' (July 2015)

July 2015

In this edition, Chief Investment Officer Rebecca Patterson shines a light on one specific corner of the U.S. economy: trucking. She explores what this sector can teach us about issues ranging from inflation and technology to regulation and energy. She also shows that trucking, now as decades ago, remains one of the best leading indicators of broader U.S. economic health. Her insight about the trucking sector, along with other analysis, helps bolster our conviction to be overweight equities in client portfolios.

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Quarterly Investment Perspective: Below Zero (April 2015)

April 2015

In this edition, Chief Investment Officer Rebecca Patterson dives deep into what has pulled global inflation and bond yields dramatically lower in recent months — in many cases below zero. Then, looking ahead, she discusses her team’s views on inflation and bond yields, as well as how one approaches asset allocation in a world where many traditional fixed income investments feel increasingly risky.

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Quarterly Investment Perspective: What Really Matters in 2015 (December 2014)

December 2014

In this year-end edition, Chief Investment Officer Rebecca Patterson examines 2014 and summarizes what drove our performance during a volatile year for global markets. Then, looking ahead, she discusses what is likely to matter most for investors in 2015, particularly tighter U.S. monetary policy. She also evaluates several less broadly understood potential market catalysts, including greater public-sector stimulus in the U.S., election outcomes in Europe, and the spillover from a weakening Japanese yen.

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Quarterly Investment Perspective: Sizing Up The Markets (October 2014)

October 2014

In this edition, Chief Investment Officer Rebecca Patterson discusses the role that size can play in the investment process. What does the health of different-sized companies reveal about the broader economy? When small-cap and large-cap companies perform differently, what can that tell us about our place in the market cycle? Is it better to invest with managers who have large or small amounts of capital at their disposal—and why is it relevant? Focusing particularly on the U.S., Ms. Patterson also examines how value can lie unnoticed on the smaller end of the spectrum for various asset classes and describes Bessemer's portfolio positioning in today's environment.

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