The 7520 rate for September 2016 has remained at 1.4%.
The September 2016 Applicable Federal Interest Rates can be found here.
People.com is reporting that Amber Heard, who received a $7 million settlement in her divorce from Johnny Depp this week, is donating the entire $7 million settlement to charities with “a particular focus to stop violence against women” as well as the Children’s Hospital of Los Angeles.
In light of this newsworthy charitable donation, we thought now would be a good time to remind everyone of some of the basic income tax deductions available for gifts to charities.
At a minimum, we recommend that our clients review their existing estate planning documents every few years, and also when big life changes are happening. Going through a divorce is one of those times. Here are some things to consider when you are considering divorce or separation, and after your divorce is final:
In the recent decision, Pfannenstiehl v. Pfannenstiehl, the Massachusetts Judicial Supreme Court overruled the appeals court decision and concluded that assets held in a discretionary trust created by a third party, where the husband is but one potential beneficiary of the trust, is not a marital asset to be divided on divorce.