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Estate Planning › Transfer of Assets

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 -
Allen Barron, Inc.

The Step Up Benefit of a Revocable Trust

Allen Barron, Inc. on

What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? ...more

Tucker Arensberg, P.C.

Business Owner’s Guide: Plan Your Exit

Tucker Arensberg, P.C. on

As America’s largest generation approaches retirement age, we are seeing an influx of business owners looking for an exit ramp. Curiously, we are also seeing business owners of younger generations exiting, or planning to...more

Allen Barron, Inc.

Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult

Allen Barron, Inc. on

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more

McGuireWoods LLP

Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property

McGuireWoods LLP on

As we have discussed on this podcast, legacy planning is not just about transferring money. It’s also about transferring values and relationships. And often the transfer of specific property goes hand-in-hand with the...more

Charles E. Rounds, Jr. - Suffolk University...

In the case of a donative transfer in irrevocable inter vivos trust, it is not the trustee who is the donee of the gift

Charles E. Rounds, Jr. - Suffolk University... on

In International Rescue Committee v. Trustee of the Wylie Street Emergency Fund, 537 P.3d 30 (2023), the Supreme Court of Idaho cited Black’s Law Dictionary (11th ed. 2019) as authority for the proposition that “a person can...more

Lippes Mathias LLP

Considerations When Choosing Between a Trust vs. Will Estate Plan

Lippes Mathias LLP on

There are a number of considerations to make when deciding whether to proceed with a Will-based estate plan or a trust-based estate plan. First, as a general matter, there are two ways in which your estate can be distributed...more

Lippes Mathias LLP

Avoiding Probate in New York: Benefits of Planning Ahead

Lippes Mathias LLP on

What is the Probate Process in New York? Probate is the formal legal process that gives recognition to a will and appoints the executor or personal representative who will administer the estate and distribute the...more

Opportune LLP

Understanding Gift & Estate Tax Valuation

Opportune LLP on

The requirements outlined in the tax code can significantly impact an individual’s gift and estate planning, and navigating these requirements effectively is crucial. In this blog post, we will delve into gift and estate tax...more

DarrowEverett LLP

Gun Trusts in Estate Planning: No Time To Be Quick on the Trigger

DarrowEverett LLP on

When considering an estate plan, clients who own firearms should remember that very often, their firearms require special consideration and planning, particularly given the intricacies of federal, state, and local gun laws...more

Allen Barron, Inc.

Business Succession Planning Podcast with Janathan Allen

Allen Barron, Inc. on

Allen Barron's podcast on Business Succession Planning focuses on one of the most important part of protecting an owner, member, partner, shareholder or investor in any company, and yet less than one in four businesses have a...more

Husch Blackwell LLP

Ensuring the Future: The Importance of Succession Planning for Business Owners

Husch Blackwell LLP on

Every successful business thrives from careful planning and strategizing. While business owners are primarily concerned with building their business and maximizing their success, it is equally important for them to consider...more

Katten Muchin Rosenman LLP

Keep It in the Family: Three Tips for Preserving Family Business Interests

Katten Muchin Rosenman LLP on

As a family business owner, are you missing out on valuable estate and wealth transfer planning opportunities or jeopardizing your current plan altogether? Katten recently hosted a program that addressed common concerns,...more

Davidoff Hutcher & Citron LLP

Unsure of Stepped-Up Basis? Here is a 5-Point Primer

Davidoff Hutcher & Citron LLP on

Stepped-up basis is a tax law that applies to estate transfers when a person receives an asset from a giver after a benefactor passes away. In those circumstances, the asset receives a “stepped-up” basis – which is the market...more

Ward and Smith, P.A.

Has Your Business Attorney Met Your Estate Planning Attorney?

Ward and Smith, P.A. on

Every business should have documentation that confirms its ownership, management, and governance structures. If the business has more than one owner, the documentation should address transfers of ownership interests and...more

Goodwin

Transfer-on-Death Designations: A Word of Warning

Goodwin on

Although transfer-on-death (TOD) and payable-on-death (POD) designations on financial accounts can be an effective tool to avoid the probate process, these account designations have the potential to derail a customer’s estate...more

Williams Mullen

[Event] 2023 Fiduciary Focus - February 24th, Richmond, VA

Williams Mullen on

...join us as we return to an in-person format for our 14th Annual Fiduciary Focus! Breakfast and lunch will be provided. Topics Include: - Recent Developments in Wealth Planning - Corporate Transparency Act Compliance...more

Ward and Smith, P.A.

Whose Business is it Anyway? A Business Succession Case Study

Ward and Smith, P.A. on

Three Ward and Smith attorneys provided an overview of succession planning, estate planning, divorce, and the separation of assets. The seminar — A Business Succession Case Study — used an interactive presentation and a...more

Gray Reed

Trust Protector or Trust Defector? Five Hazards to Avoid in Appointing a Trust Protector

Gray Reed on

Unanticipated changes in the law or circumstances may derail a careful plan to preserve a client’s intent to transfer wealth through trusts. A “trust protector” originated from a need to protect offshore trusts from...more

Kohrman Jackson & Krantz LLP

Passing Down Cryptocurrency Assets: Gifting And Estate Planning Considerations

Kohrman Jackson & Krantz LLP on

WHAT IS CRYPTOCURRENCY? Cryptocurrency is a digital asset that is created and traded online. Miners (computer operators) establish new units of digital currency and record them on a blockchain, a string of verified public...more

Lathrop GPM

Minnesota Court of Appeals Upholds Settlor’s Intent, Rejects Beneficiary’s Petition to Modify Trust and Receive Attorney Fees

Lathrop GPM on

In an opinion released last week, the Minnesota Court of Appeals rejected a petition to modify the terms of a trust to allow for the early distribution of trust assets to the beneficiaries. The court also denied the...more

Proskauer Rose LLP

Personal Planning Strategies - October 2021

Proskauer Rose LLP on

Act Now Before the Window of Opportunity Closes - By now you have probably heard that the House Ways and Means Committee introduced legislation a few weeks ago (see Let the Estate Tax Planning Games Begin - But Where Will...more

Proskauer Rose LLP

Let the Estate Tax Planning Games Begin - But Where Will They Land - the House Ways and Committee Has Spoken

Proskauer Rose LLP on

“President Biden and Democrats in the Congress have been working on a $3.5 trillion spending and tax package, and the details are starting to be revealed. Indeed, on Sunday, September 12th, the House Ways and Means Committee...more

Burns & Levinson LLP

Disclaimers: A Useful Tool Through a Conservator for a Single Transaction

Burns & Levinson LLP on

As a reminder about the Austen family, wife Juliet suffered a stroke upon learning the news of her husband’s death. She is alive but unresponsive. Her husband’s estate planner, Attorney Hume, advised their daughter Kate that...more

Burns & Levinson LLP

Introducing: The Austens

Burns & Levinson LLP on

Welcome to the Austen family! Their father, Jack Austen, is a hardworking, self-made, immigrant who started a family real estate company. Some children were involved in the family company, some were not. Some children were...more

Farella Braun + Martel LLP

Year-End Estate Planning in an Election Year

Farella Braun + Martel LLP on

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

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