News & Analysis as of September 19, 2024

Asset Protection

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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 -

Tax and Estate Planning for Small Business Owners and S Corporations with No Employees

Allen Barron, Inc. on 8/28/2024

Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is simply a myth which does not reflect the nature of business or home ownership....more

The Role of AI in Estate Planning: Benefits and Limitations

Kohrman Jackson & Krantz LLP on 6/24/2024

As AI increasingly becomes part of our everyday lives, individuals and families are exploring the use of AI programs to prepare estate plans. The answer to whether AI can be used for this purpose is, of course, yes. AI...more

You Need to Review Your Irrevocable Trust

Allen Barron, Inc. on 4/17/2024

Do you employ an irrevocable trust or trusts as part of your estate plan? You need to review your irrevocable trust to ensure it still delivers the benefits intended. It is generally possible to modify an irrevocable trust,...more

Estate Planning Essentials for Health Care Providers: Protecting Legacy and Loved Ones

Stevens & Lee on 3/8/2024

Physicians and healthcare providers, like many others with demanding professions, often postpone or overlook their own estate planning and preparation. Estate planning is a fundamental process for individuals at any stage of...more

Estate Planning in Arkansas: Significance of Wills and Trusts

Mitchell, Williams, Selig, Gates & Woodyard,... on 11/10/2023

In Arkansas, estate planning is vital. By understanding the tools at residents’ disposal, such as wills and trusts, Arkansans can ensure the security of their assets, provide for their loved ones, and leave a lasting legacy...more

[Webinar] Estate Planning Doesn't Have to be Scary - October 26th, 12:00 pm - 1:00 pm EDT

Chambliss, Bahner & Stophel, P.C. on 10/6/2023

Planning ahead for the unknown can be frightening and intimidating. However, our team is here to expel the spine-chilling misconceptions of advance directives, estate planning, and estate administration. Sally Brewer,...more

Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs

McGuireWoods LLP on 6/21/2023

Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through...more

"It Ain't Over 'Til It's Over" - Use Of A Funded Revocable Trust In Estate Planning

Ward and Smith, P.A. on 3/7/2023

Revocable trusts can simplify asset management during life and facilitate and make private asset transfers at death. You may think that your estate planning work is done when you sign your revocable trust agreement, but, to...more

What Is A Living Trust?

Lewitt Hackman on 1/16/2023

A living trust is a way of holding title to your assets so they will not have to go through probate (a Court supervised estate administration) upon your death. The trust states what happens to your assets if you are...more

What Are the Benefits of Having a Testamentary Trust?

Chambliss, Bahner & Stophel, P.C. on 1/13/2023

There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan....more

Veterans Day: Benefits For Those Planning Their Estates

Harris Beach PLLC on 11/8/2022

With Veterans Day upon us, it is a perfect time to not only thank those who served our country, but remind them of the special benefits available to them as they plan their estates. The U.S. Department of Veterans...more

The Case for Brevity in Trust Documents

Sands Anderson PC on 5/24/2022

The most powerful and flexible tool estate planners have today is the revocable living trust. It is essentially a substitute for a will that allows you to avoid the often lengthy and expensive probate process, while giving...more

You Can Relax if Your Estate Plan Includes a SPA Trust

Adler Pollock & Sheehan P.C. on 12/27/2021

During times of economic and tax law uncertainty, the more flexible your estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to...more

Protecting Business Wealth From Creditors

Adler Pollock & Sheehan P.C. on 11/2/2021

If you’re a business owner, you’ve likely worked long and hard to achieve your goals. It would be a shame if creditors were able to reach your assets before you’ve transferred wealth to the younger generation. Fortunately,...more

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

Bowditch & Dewey on 11/24/2020

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

Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?

Cohen Seglias Pallas Greenhall & Furman PC on 1/28/2020

Presented by Cohen Seglias Attorneys Brian Lawton and Whitney Patience O'Reilly on January 23, 2020. It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an...more

Understanding Revocable Trusts

Chambliss, Bahner & Stophel, P.C. on 1/27/2020

Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity. In addition, revocable trusts--sometimes called “living” trusts--are incredibly flexible and can achieve many...more

[Webinar] Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce? - January 23rd, 12:00...

Cohen Seglias Pallas Greenhall & Furman PC on 1/8/2020

It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an asset protection plan, you could lose everything or a significant portion of what you have worked so...more

Family Matters: Does Everyone Really Need a Will?

Gray Reed on 10/31/2018

Just before her 80th birthday, Ernest (“Big Daddy”) Bux’s octogenarian Auntie Delusional (Auntie Del) died without a will or any other estate plan in place to give guidance to her husband (Uncle Tom) and their two adult...more

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