In many cases, the assets in a decedent's so-called credit shelter trust lie fallow during the period of the spouse's survivorship; the trustee looks first to the marital trust (so as not to waste the unified credit), but also…more
Life insurance on the life or lives of one or more of a business's owners or executives can be a useful tool in the advisor's toolbox when dealing with risks facing the business. It is commonly used to fund entity and/or…more
Certain provisions regarding the generation skipping transfer tax (GSTT) of the Internal Revenue Code are employed by grantors' counsel in so-called "Dynasty Trusts" for the benefit of multiple generations of beneficiaries. …more
In the right circumstances, where an independent business purpose recommends the use of a business entity, a family limited partnership, organized under the laws of the state of domicile can be integrated successfully into an…more
Nonqualified deferred compensation plans for the benefit of executives of not-for-profits must comply with additional rules under §457 of the Internal Revenue Code. These additional compliance issues change the way that the…more
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