Updated Wednesday, February 19, 2025, 3 PM ET

From the IRS’s proposed regulations relating to corporate transactions qualifying for nonrecognition of gain to simplified Supplemental Security Income applications and a new court ruling allowing enforcement of the Corporate Transparency Act (CTA), we have recently seen significant developments in estate planning, elder and special needs law, and business law.

Written by Matthew J. Leonard and Ruth A. Mattson

World travelers are always looking for keepsakes to stay connected to foreign lands. A prized memento such as a local handicraft or a cap from a favorite destination can bring joy with no government involvement beyond a sales tax. However, travelers sometimes want something more permanent, such as a home in their foreign paradise. In contrast to a trinket, a beach condo in Mexico or a farm in New Zealand remains in that country, governed by local law even when it is owned by a foreign person. The mix of laws that regulate how foreigners can own and use real property may surprise purchasers. To ensure that their purchase does not become a cautionary tale, purchasers should coordinate with US and foreign advisors before and after the transaction.

From the Internal Revenue Service’s (IRS’s) issuance of private letter rulings regarding extensions and trust modifications to a nationwide injunction against the enforcement of the Corporate Transparency Act (CTA) deadlines and newly released Medicaid and Veterans and Survivors Pension figures, we have recently seen significant legal developments.