Author Archives: Allen Falke

About Allen Falke

Allen joined Mirick O’Connell as Of Counsel in June 2014. He is a member of the Firm’s Business and Trusts and Estates Groups. He focuses his practice on tax law and estate and business planning. Allen provides estate planning for high-net-worth individuals and succession planning for business clients. He advises clients on tax matters related to business acquisitions and restructuring, and business formations and combinations. He reviews and advises clients on estate, gift, individual, corporate, partnership, and fiduciary tax compliance matters. He also has extensive experience representing clients on audits with taxing authorities.

Year-End Income Tax Planning

We are approaching the end of 2016, and attention should now turn to, what else, year-end income tax planning. The end of the year should be used to review your tax situation and determine what, if anything, can be done … Continue reading

Posted in Income Taxes

And now… we have our Tax Extenders

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Congress recently passed the “Tax Increase Prevention Act of 2014,” which the President has signed.  The Act extends numerous tax breaks that had expired for tax year 2014 and makes these tax breaks retroactive to January 1, 2014.  These extenders … Continue reading

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To Gift, or Not to Gift

The topic of gifting assets is often an important discussion in the world of estate planning.  Generally, a main point of gifting is to remove assets from the estate of the donor to avoid potential estate taxes on the asset.  … Continue reading

Posted in Estate Planning, Estate Taxes, Gifting, Trusts, Wills | Tagged , , , , , ,

All Is Not the Same With Inherited IRAs- The US Supreme Court Denies Creditor Protection For Inherited IRAs

Recently the U.S. Supreme Court issued a ruling related to whether creditors could reach an inherited IRA.  Many individuals assumed that all IRAs were protected from creditors; however, the Supreme Court disagreed under federal bankruptcy law. The issue arose when … Continue reading

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