BRUCE D. STEINER

OF COUNSEL

Bruce Steiner has over 40 years of experience in the areas of taxation, estate planning, business succession planning and estate and trust administration. He is a frequent lecturer at continuing education programs for bar associations, CPAs and other professionals. He is a co-author of CCH’s Roth IRA Answer Book.

Practices

About

Bruce is a commentator for Leimberg Information Services, Inc., is a member of the editorial advisory board of Trusts & Estates, is a technical advisor for Ed Slott’s IRA Advisor, and has written numerous articles for Estate Planning, BNA Tax Management’s Estates, Gifts & Trusts JournalTrusts & Estates, the Journal of TaxationProbate & PropertyTAXES, the CPA Journal, the CLU Journal and other professional journals. Bruce has been quoted in various publications including CNBCFox BusinessForbesThe New York TimesWall Street JournalDaily Tax ReportLawyers WeeklyBloomberg’s Wealth ManagerFinancial PlanningKiplinger’s Retirement ReportUSA TodayNewsday, the New York Post, the Naples Daily News, Individual Investor, TheStreet.com, and Dow Jones (formerly CBS) Market Watch. Bruce has served on the professional advisory boards of several major charitable organizations and was named a “New York Super Lawyer” every year since 2010 and to “Best Lawyers” in New York every year since 2018.

Education

New York University (LL.M. in Taxation, 1976)

Gerald L. Wallace scholar State University of New York at Buffalo (J.D., cum laude, 1975)

Cornell University (B.A., 1972)

Bar Admissions

2005, U.S. District Court for the Southern and Eastern Districts of New York

1996, U.S. Court of Appeals, Third Circuit

1978, New Jersey, Florida and U.S. District Court, District of New Jersey

1976, New York, U.S. Tax Court and U.S. Claims Court

Speaking Engagements

American Bar Association

The American College

Bank of America

Baruch College School of Continuing Education

Bergen Tax Study GroupBloomberg BNA Tax Management

Central New Jersey Estate Planning Council

C.W. Post Tax Institute

Committee of Banking Institutions on Taxation

Consumers Union

Cornell University

Eastern New York Estate Planning COuncil

Essex County Bar Association

Fairleigh Dickinson Tax Institute

Financial Planning Association

The Florida Bar

Greater New Jersey Estate Planning Council

Hudson Valley Bank

Hudson Valley Estate Planning Council

JP Morgan Chase Bank

Lawline

Leimberg Webinars

Lighthouse

Lorman

Lower Fairfield County Estate Planning Council

Merrill Lynch

Metropolitan Life Insurance Company

Middlesex County Bar Association

Middlesex-Somerset Estate Planning Council

National Association of Personal Financial Advisors

New Jersey Institute for Continuing Legal Education

New Jersey State Society of Certified Public Accountants

New York City Bar Association

New York City Estate Planning Council

New York State Bar Association

New York State Society of Certified Public Accountants

New York Tax Study Group

New York University School of Continuing Education

Northern New Jersey Estate Planning Council

Rockland County Estate Planning Council

Seattle Estate Planning Council

Society of Financial Service Professionals

Strafford

University of Washington School of Law

Wachovia Bank

Westchester Estate Planning Council

Western Connecticut Estate & Tax Planning Council

Publications

Charitable Remainder Trusts Replicate the Stretch for IRAS
Trusts & Estates, April 2020

Protecting Against Elder Financial Abuse
Trusts & Estates, December 2019

Decanting Trusts to Remove Unwanted Beneficiaries

Trusts & Estates, June 2019

Celebrity Estate Planning: Misfires of the Rich and Famous II – Co-authored by Jessica Galligan Goldsmith, David Y. Choi, Shaina S. Kamen, Gerry Joyce, Christiana M. Lazo, Alison Silverman

Probate and Property, May 2019

Tax Reform Opens a Window for Roth Conversions

Trusts & Estates, June 2018

Celebrity Estate Planning: Misfires of the Rich and Famous – Co-authored by Jessica Galligan Goldsmith, Shaina S. Kamen, Christiana M. Lazo, and David J. Posner

Probate & Property, July/August 2018

Lessons from Prince’s Lack of a Will

Probate and Trust Law Section Newsletter, Philadelphia Bar Association, October 2016

Swap Powers – Consider some often overlooked practical and technical aspects – Co-authored by Martin M. Shenkman

Trusts & Estates, December 2015

IRA Rollovers – Making this option possible for a spouse who’s not the named beneficiary

Trusts & Estates, June 2015

Fiscal Year 2015 Revenue Proposals Affecting Retirement Plans and IRAs

Trusts & Estates, May 2014

Estate Planning in a Decoupled State Post-ATRA for Married Clients Under the Federal Exclusion Amount – Co-authored by Martin M. Shenkman, Richard H. Greenberg, Glenn A. Henkel

Wolters Kluwer CCH’s CPA Client Advisor Library, January 2014

The Tax Increase Prevention Act extends QCDs for 2014

Trusts & Estates, December 2014

IRS Rules “No Problem” If IRA Trust Runs Out Of Beneficiaries Trusts & Estates, November 2013

Estate Planning in Decoupled States Post-ATRA – Co-authored by Martin M. Shenkman

Trusts & Estates, August 2013

Using Portability for Retirement Benefits

Trusts & Estates, June 2013

Roth Conversions Are More Attractive Under ATRA

Trusts & Estates, April 2013

Gift Splitting Where the Spouse Is a Beneficiary

BNA Tax Management’s Estates, Gifts & Trusts Journal, November 2012

Post-Mortem Action Can Limit Class Of Beneficiaries

Trusts & Estates, May 2012

Beware of the Reciprocal Trust Doctrine — Co-authored by Martin M. Shenkman

Trusts & Estates, April 2012

Practical Guidance on 2010 Carryover Basis — Co-authored with Martin M. Shenkman

CCH Practitioner’s Strategies, December 2011

Restorative Payments

Trusts & Estates, June 2011

Using Trusts to Protect Benefits from Beneficiaries’ Creditors

Trusts & Estates, September 2010

Before Setting Up A Trusteed IRA

Trusts & Estates, September 2009

Ten Common Errors

Trusts & Estates, September 2008

Restorative Payments
Trusts & Estates Wealth Watch News, August 2007

The Accidentally Perfect Non-grantor Trust
Trusts & Estates, September 2005

Trusts as Beneficiaries of Retirement Benefits

Tax Management Estates, Gifts and Trusts Journal, March 2004

Coping with the Decoupling of State Estate Taxes After EGTRRA

Estate Planning, Vol. 30, No. 4, April 2003

Avoiding a Penalty on Early Distributions from Qualified Plans and IRAs

Estate Planning, January 2000

Postmortem Strategies to Shift Retirement Plan Assets to the Spouse

Estate Planning, October 1997

How Best to Use the Grandfather Election for Retirement Plans — Co-authored by Zelda Shapiro, CLU 
Estate Planning, February 1996

The Benefits of Charitable Remainder Trusts — Co-authored by Frederick J. Wertlieb, CLU, ChFC, CFP
Journal of The American Society of CLU & ChFC, November 1992

Where to Deduct Estate Administration Expenses

The CPA Journal, August 1991

Disclaimers: Post-Mortem Creativity
Probate & Property, November/December 1990

Considering the Alternate Valuation Date Option

WG&L Estate Planning, July 1989

Timing of S Election Can Minimize Double Taxes on Gains
Corporate Taxation, November/December 1988

Estate Tax Marital Deduction Planning For Alternate Valuation

The Journal of Taxation, October 1986

Liabilities in Excess of Basis in Corporate Reorganizations – When Should Gain Be Recognized?
The Journal of Corporate Taxation, Spring 1979

Logarithms, Exponents and Carryover Basis
TAXES – The Tax Magazine, August 1978

Insights

15 Kleinberg Kaplan Attorneys Named as 2020 Super Lawyers or Rising Stars

November 17, 2020

We are pleased to announce that 15 of the firm’s attorneys were selected for inclusion in the 2020 edition of Super Lawyers®, a national legal ranking. Attorneys were nominated by their peers and recognized for their outstanding professional achievement in several legal practice areas including business/corporate, business litigation, estate & probate, mergers & acquisitions, real estate,…

Post-Election Trusts & Estates Planning Considerations

November 9, 2020

In the wake of the 2020 election, many expect that the Biden administration will seek to engage Congress to enact new tax legislation in order to raise revenue to pay the costs associated with the pandemic and other government programs. The administration’s ability to set policy will be impacted by the final results of several…

Kleinberg Kaplan Attorneys Recognized in Best Lawyers in America

August 21, 2020

Premier boutique law firm Kleinberg Kaplan has been recognized in the Best Lawyers in America 2021 edition. Several firm attorneys were listed in the Best Lawyers in America and in the inaugural Best Lawyers in America: Ones to Watch categories. Best Lawyers in America 2021 Philip Gross (Tax Law) Jeffrey B. Kolodny (Trusts & Estates) James R.…

Current Estate and Gift Tax Planning Opportunities

July 8, 2020

As the global economy continues to feel the disruptive effects of the COVID-19 crisis, now may be an appropriate time to consider potential estate planning opportunities: Low Interest Rates: The IRS prescribes minimum interest rates that taxpayers must charge on most loans (including installment sales) to avoid gift tax consequences. These IRS rates are now…

SECURE, CARES and Retirement Account Distributions in 2020

June 26, 2020

Both the SECURE Act enacted in December 2019 and the CARES Act enacted in March 2020 changed the rules governing distributions from retirement plans and IRAs. Under the SECURE Act, retirement plan participants and IRA owners no longer have to begin taking distributions until April 1 of the calendar year after they reach age 72…

SECURE Act Changes Key Retirement Plan and IRA Rules Alerts

December 30, 2019

Retirement benefits (such as pension, profit-sharing, 401(k) or IRA benefits) make up a substantial portion of many people’s assets. Congress recently passed, and the President signed on December 20, 2019, the Setting Every Community Up for Retirement Act (the SECURE Act) as part of the Further Consolidated Appropriations Act, 2020. The SECURE Act made various…

Discounting Under Attack By IRS

August 31, 2016,

On August 2, 2016, the IRS issued proposed regulations for Section 2704 of the Internal Revenue Code, which would substantially impact the ability of taxpayers to discount the value of certain assets in order to reduce gift and estate taxes. The regulations specifically target the use of Family Limited Partnerships (FLPs) and Family Limited Liability…

Qualified Charitable Distributions from IRAs Extended for 2014

December 19, 2014

The Tax Increase Prevention Act of 2014 extended the ability of certain IRA owners to make qualified charitable distributions (QCDs) for 2014. A QCD is a distribution to a public charity (other than a donor advised fund) from an IRA. Only IRA owners over age 70½ can make QCDs. The limit on QCDs for 2014…

Changes to NY Trust & Estate Tax Treatment

April 8, 2014

In February we alerted you that Governor Cuomo’s budget bill proposed important changes to the New York estate tax and the New York income taxation of certain trusts. The changes just enacted, described below, were scaled back from the original proposals, though still represent significant and important changes. Estate Tax Exclusion. The New York estate…

New Yorkers Take Note – Action May Be Needed By March 31

February 5, 2014

Governor Cuomo’s recently released budget bill proposes important changes to the New York estate tax and the New York income taxation of certain trusts. Proposed changes require high net worth individuals and trustees of certain trusts to consider taking action between now and March 31st. Taxing Gifts. One proposed change is to increase, for New…

Is it time to pay gift tax?

June 19, 2012

There may be only six months left before the lifetime gift tax exemption reverts from its present $5.12 million to $1 million and the gift, estate and generation-skipping transfer (“GST”) tax rates jump to 55%. Unless Congress enacts legislation providing otherwise, these changes will occur on January 1, 2013. Many clients have taken advantage of…

Time May Be Running Out – Congress To Act This Month

November 8, 2011

The Congressional Joint Select Committee on Deficit Reduction (the “Committee”) is currently scheduled to announce its proposals on November 23, 2011. Rumor has it that among the proposals presently being discussed are changes to the current gift, estate and generation-skipping transfer tax laws. We believe two of these proposals merit your attention and possible prompt…

Current Estate Planning Topics of Interest

November 8, 2011

Planning for the future, yours and other’s, is very important in today’s environment. There are some current estate planning opportunities that may not be available in the future. TUESDAY APRIL 17th IS TAX DAY 2012 Did you take any actions in 2011 that could trigger the requirement to file a gift tax return? Examples of…