ESTATE Q & A
What is a Dynasty Trust?
Dynasty trusts have become increasingly popular in recent years and have received a lot of attention. Basically, a dynasty trust is a trust that is not limited by the rule against perpetuities and can therefore last forever.
 

LEGAL LINES
Armstrong Trust and Estate Not Entitled to Refund of Paid Gift Taxes
A federal district court has ruled that an agreement by recipients of a gift to pay any additional gift taxes that might arise is too speculative to result in a reduction in the value of the gift at the time of the transfer. Therefore, the trust and estate that paid the gift taxes on the gifts are not entitled to a refund of gift taxes paid.
 

MEDI-MINUTES
Democrats Oppose Bush's Prescription Drug Plan, Introduce Their Own
Democrats in the House and Senate have introduced a prescription drug coverage plan to counter President George W. Bush's plan, which they say does not do enough to provide seniors relief from the high costs of prescription drugs. 

HEALTH HAPPENINGS
Urinary Incontinence May Signal Onset of Elder Frailty
Urinary incontinence is common among the elderly, especial older women. It is often caused by menopause, surgery, stroke, or excess weight. 

NEWS YOU CAN USE
Exposure to Light May Help Cure Elder Insomnia
Many elderly people suffer from insomnia. Scientific studies have shown that levels of melatonin, a hormone believed to regulate sleep, decrease as people age. 

TAX TID-BITS
IRS Corrects Proposed Regulations for Savings Plan Distributions
On Jan. 17, 2001, the IRS issued proposed regulations that greatly simplify the calculation of minimum required distributions (MRDs) from IRAs, qualified plans, and other retirement savings vehicles.