Peter E. Iorio is a member the Firm’s Estate Planning & Administration of Trusts Group. Mr. Iorio’s practice focuses on estate planning, administration of estates and trusts, taxation, and estate and trust litigation.
Should Fido be left an inheritance after you pass away? Creative designer Karl Lagerfeld died this year after amassing a fortune of approximately $300 million. Prior to his death, Lagerfeld quipped that one of his heirs, his cat Choupette, would have “her own little fortune.” Reportedly, $200 million of assets was earmarked for Choupette’s care. […]
Aretha Franklin, the “Queen of Soul,” died this month, at the age of 76. According to news reports, she was worth $80 million and died without establishing a Will or trusts for the beneficiaries of her estate. Her death highlights the importance of establishing an estate plan–even a simple one–to avoid unintended consequences. At the […]
If you are a trader of Bitcoin or use “virtual currencies” as payment, the Internal Revenue Service wants you to know that you are not immune to the bite of the income tax. The IRS has published a Notice providing guidance to owners of virtual currencies about their potential tax liabilities. For federal tax purposes, […]