Dominick Feld Hyde P.C. is pleased to announce that 11 attorneys from the firm have been named 2018 Top Lawyers in B-Metro's March issue. The annual list honors the region’s top attorneys based on education, professional experience and community involvement. According to B-Metro attorneys selected for this honor “have been chosen because of their ability to guide clients to successful outcomes.” B-Metro began highlighting Birmingham top attorneys in 2010 and Dominick Feld Hyde attorneys have been included in this list every year. The attorneys recognized as B-Metro Top Lawyers 2018 are listed below:
Dominick Feld Hyde, P.C. is pleased to announce that several attorneys from the firm were selected as a 2018 Top Attorneys in Birmingham, published by Birmingham Magazine. Now in its 9th year, the Top Attorneys section is pulled from a peer reviewed survey conducted with over 4,000 local attorneys registered with the Birmingham Bar Association. The survey takes nominations for attorneys in 35 different practice areas. The Dominick Feld Hyde attorneys selected were:
The Tax Cuts and Jobs Act boosts exemption amounts
With the passage of the Tax Cuts and Jobs Act, the estate planning landscape has not changed as drastically as some lawmakers would have liked. While the TCJA temporarily doubles the combined gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption, it does not outright repeal the estate tax, as envisioned in the U.S. House of Representatives’ version of the bill. This article examines the changes in the TCJA that have created new estate planning opportunities and challenges. We refer you to our recent email entitled “THE DUST IS STARTING TO SETTLE ON THE NEW TAX ACT” for more details regarding income tax changes.
Why you should file gift tax returns even if they are not required
When transferring property to another person — especially a family member — consider filing a gift tax return even if doing so isn’t technically required. A timely filed gift tax return that meets the IRS’s “adequate disclosure” requirements starts the clock on the statute of limitations. This article explains the adequate disclosure requirement. A sidebar details the benefits of an independent appraisal of assets.
Foreign financial accounts Do not overlook FBAR requirements
Often misunderstood or overlooked, a report of foreign bank and financial accounts (FBAR) can be a costly trap for the unwary. It must be filed by any “U.S. person” with a financial interest in or signature authority over foreign financial accounts with an aggregate value that exceeds $10,000 at any time during the calendar year. U.S. persons include U.S. citizens, residents, estates, trusts and business entities. This article defines a foreign financial account and details how an FBAR affects estate planning.
Estate Planning Red Flag You have not created a "road map" for your estate plan
A will, trusts and other official estate planning documents may not be enough to ensure wishes are properly carried out. Creating a “road map” can help. This brief article explains what such a map should include.
Dominick Feld Hyde's practice areas have grown and now comprise five broad categories: Business, Estates/Probate, Family Law, Healthcare and Tax. Within these areas, our attorneys have experience in a wide range of specialized legal services.