05/09/2025
5/9/25: Weekly Recap of Headlines We Found Interesting
An Interesting Conversation on the Potential Repeal of the Estate Tax
Some view the repeal of the Estate Tax as a real possibility, others a stalking horse for other tax changes, and others still as an area that is completely misunderstood by Congress.
Consensus is always tough to build around this topic. It doesn't really move the needle in terms of revenue for the government or vote generation, but it tugs at heartstrings and ideological beliefs.
Consensus is always tough to build around this topic. It doesn't really move the needle in terms of revenue for the government or vote generation, but it tugs at heartstrings and ideological beliefs.
Handicapping a repeal is difficult. Where once it was a long shot, now it can't be discounted out of hand. The repeal is also married to some other interesting concepts like the retention of the step-up in basis and the maintenance of the gift tax- all of which when taken together would probably bring lifetime planning to a halt. Additionally, many prognosticators think that that once the current administration is gone, any repeal would be reinstated.
All of which is to say that I don't think AI is going to replace the Trusts and Estates Bar any time soon.
All of which is to say that I don't think AI is going to replace the Trusts and Estates Bar any time soon.
A Delaware Asset Protection Trust Holds Up in Court
I'm interested in some of the details about the Michigan interplay (where the original judgment was entered and the real property held by the entities and ultimately the trust is situated). Colorado is involved too.
One big lesson? Get the trust and structures set up well before the tort happens, make sure the i's are dotted and the t's are crossed, and make sure that you have a qualified trustee in the jurisdiction that you are using.
One big lesson? Get the trust and structures set up well before the tort happens, make sure the i's are dotted and the t's are crossed, and make sure that you have a qualified trustee in the jurisdiction that you are using.
Evidence of a 1,900 Year Old Offshore Tax Fraud
Filed under "The More Things Change, The More They Stay The Same"
with a h/t from Neil Bass-
"Ancient Tax Fraud Uncovered: Rome’s Original Offshore Scheme
A 1,900-year-old papyrus has just shaken up our understanding of Roman-era financial crime. Recently published in Tyche by Anna Dolganov and colleagues, the document reveals an intricate tax evasion scheme involving forged slave transactions between Judea and Arabia—designed to outsmart Roman fiscal authorities.
The papyrus, written in dense, technical Greek and only recently deciphered after decades in obscurity, details judicial proceedings against two men, Gadalias and Saulos, who orchestrated a cross-border scam to dodge the 4% Roman tax on slave sales.
This is more than an archaeological curiosity—it's a stark reminder that even in the second century, tax authorities were grappling with fraud, asset concealment, and sham transactions. Sound familiar?
The sophistication of Roman legal systems, the bureaucratic oversight, and the forensic reconstruction of the fraud make this an important case study in the long, global history of tax evasion."
with a h/t from Neil Bass-
"Ancient Tax Fraud Uncovered: Rome’s Original Offshore Scheme
A 1,900-year-old papyrus has just shaken up our understanding of Roman-era financial crime. Recently published in Tyche by Anna Dolganov and colleagues, the document reveals an intricate tax evasion scheme involving forged slave transactions between Judea and Arabia—designed to outsmart Roman fiscal authorities.
The papyrus, written in dense, technical Greek and only recently deciphered after decades in obscurity, details judicial proceedings against two men, Gadalias and Saulos, who orchestrated a cross-border scam to dodge the 4% Roman tax on slave sales.
This is more than an archaeological curiosity—it's a stark reminder that even in the second century, tax authorities were grappling with fraud, asset concealment, and sham transactions. Sound familiar?
The sophistication of Roman legal systems, the bureaucratic oversight, and the forensic reconstruction of the fraud make this an important case study in the long, global history of tax evasion."