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Estate Planning › Irrevocable Trusts › Tax Planning

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Lowenstein Sandler LLP

The Sad Case of Lovey and Hubby (Part 2)

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On this episode of “Splitting Heirs,” Warren K. Racusin welcomes back Sharon L. Klein, President of Family Wealth for the Eastern US Region of Wilmington Trust Company and member of the Estate Planning Hall of Fame, to...more

Holland & Knight LLP

Maximize Your Legacy: Take Advantage of the High Estate and Gift Tax Exemption Sunset

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As part of the Tax Cuts and Jobs Act (TCJA), the estate and gift tax exemption was doubled for tax years 2018-2025. In 2018, the exemption doubled from $5.49 million in 2017 to $11.18 million in 2018, and that amount has been...more

Strafford

[Webinar] New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons - June...

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This CLE/CPE webinar will provide estate planners insight on recently issued IRS guidance regarding basis adjustments for irrevocable grantor trusts. The panelist will discuss key items and challenges stemming from Revenue...more

Bowditch & Dewey

Estate Planning: The Irrevocable Life Insurance Trust

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There is a common misconception that life insurance benefits are not subject to estate tax. While the proceeds of a life insurance policy are not taxable income to the beneficiaries, they are part of a person’s taxable estate...more

Blank Rome LLP

Irrevocable Trusts: Who Is the Taxpayer?

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In establishing and funding an irrevocable trust, a common question is who is responsible for the income tax liabilities associated with the trust? Many individuals assume that the trust is a separate and independent...more

Polsinelli

Estate Planning During Periods of Inflation and Market Volatility

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Earlier this year the stock market entered bear market territory.  This happens when the market declines more than 20% or more from its most recent high.  The market decline has been attributed to several factors including...more

Freeman Law

Grantor Trusts

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Under the Internal Revenue Code’s “grantor trust” rules, the grantor of a trust may be treated as the “owner” of all or part of the trust.  As such, the grantor is taxed on the trust’s income and reports its deductions...more

Williams Mullen

[Webinar] 13th Annual Fiduciary Focus - February 25th, 9:00 am - 12:00 pm EST

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Join the Williams Mullen Private Client and Fiduciary Services team for our annual Fiduciary Focus event. This year’s agenda is packed with insights on recent developments affecting fiduciaries – including tax law updates...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Estate Planning 101: Trust Planning for Novices - August 26th, 12:00 pm - 1:00 pm ET

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In the next webinar in our Estate Planning 101 series, wealth preservation attorney Whitney Patience O’Reilly will discuss the basics of trusts. She will review the differences between revocable and irrevocable trusts and...more

Levenfeld Pearlstein, LLC

Insurance. Insurance Trusts. Insurance Trusts NOW.

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“Insurance.” The word itself evokes different reactions. The range of emotions expands when we mention “life insurance.” And if we add, trust – “life insurance trust” – you may just stop reading. But don’t. Now is exactly the...more

Adler Pollock & Sheehan P.C.

Opening Up to SLAT Opportunities

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Estate tax planning can become complicated when multiple parties are involved. For example, you may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for your children from...more

Bowditch & Dewey

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

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Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – Popular Again: Life Insurance Trusts to Hedge Against Estate Taxes

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With the prospect of estate tax exemptions going down and estate tax rates going up, life insurance is being considered again to cover potential estate taxes. One way to use life insurance as a “hedge” against estate taxes is...more

Farella Braun + Martel LLP

Year-End Estate Planning in an Election Year

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The 2020 election is less than a month away and year-end estate planning is already underway for many. Under current law, the estate, gift and GST (generation-skipping transfer) tax exemptions for 2020 are set at $11,580,000...more

Adler Pollock & Sheehan P.C.

Breathe New Life Into a “Broken” Trust By Decanting It

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Building flexibility into your estate plan using various strategies is generally advised. The reason is that life circumstances change over time, specifically changing tax laws and family circumstances. ...more

Coblentz Patch Duffy & Bass

2020 Tax Planning: Benefits of GRATs

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Now may be an opportune time to gift assets out of your estate, particularly through an estate planning technique known as the Grantor Retained Annuity Trust (“GRAT“)—a small silver lining of the alarming pandemic and down...more

Coblentz Patch Duffy & Bass

2020 Tax Planning: Techniques that May Not Exist in 2021

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Major tax reform discussions are ongoing in Washington and Sacramento while everyone at home is busy navigating the pandemic. Many commentators are predicting that budgetary pressures resulting from the COVID-19 stimulus...more

Jackson Walker

Estate Planning Still Matters

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For many individuals, this is a difficult financial time. However, for those who have substantial wealth to transfer to younger generations, temporarily reduced asset values and historically low interest rates have created an...more

Chambliss, Bahner & Stophel, P.C.

Understanding the Differences Between a Living Trust and an Irrevocable Trust

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You may be thinking about setting up a trust to protect your assets, save on estate taxes, or perhaps set aside money for a special needs family member. Before you commit to a plan, make sure you understand the differences...more

Chambliss, Bahner & Stophel, P.C.

Charitable Remainder Trusts: Income for Life and a Good Deed at Death

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Many people like the idea of leaving bequests to favorite charities in their wills. But instead of leaving money to a charity in your will, you can put that money into a charitable remainder trust and collect income while you...more

Burns & Levinson LLP

How To Read A Trust

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If you are getting divorced, you may find that your marital assets include interests in one or more trusts. It could be that you and your spouse established the trusts during your lifetime, or perhaps a family member created...more

Burns & Levinson LLP

Dealing With Irrevocable Trusts in Divorce

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As you know from my prior posts, I appreciate the interplay between divorce and estate planning. I enjoy working on cases where both worlds collide, and have been fortunate to be involved in some very interesting cases, which...more

Bowditch & Dewey

Estate Planning: The Irrevocable Life Insurance Trust

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There is a common misconception that life insurance benefits are not subject to estate tax. While the proceeds of a life insurance policy are not taxable income to the beneficiaries, they are part of a person’s taxable estate...more

Coblentz Patch Duffy & Bass

Hobby Lobby Case Highlights Limitations on Charitable Deductions Claimed by Irrevocable Trusts

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Green vs. U.S., No. 16-6371 (10th Cir., Jan. 12, 2018) - Practitioners and donors often forget a pesky donation limitation that applies only to irrevocable trusts: the deduction for a real property donation is limited to the...more

Moore & Van Allen PLLC

Wealth Transfer Newsletter

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Although the estate and tax planning landscape has undergone substantial change in recent years, we can rest assured that even more change is ahead. We hope that you find this newsletter informative and useful for your...more

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