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Estate Planning › Estate Tax › Asset Management

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 -
Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2024

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Moving to another state? Revisit your estate plan - If you recently relocated to a new state — or you’re planning such a move — it’s a good idea to review and update your estate plan. You won’t have to throw out your...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, July/August 2024

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Employee stock ownership plan - A versatile business exit and estate planning tool - If you own a closely held business, a significant portion of your wealth may be tied up in it. So, to prepare for retirement and...more

Husch Blackwell LLP

Understanding the Unique Benefits of Beneficiary Intentionally Defective Irrevocable Trusts (BIDITs)

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A Beneficiary Intentionally Defective Irrevocable Trust (BIDIT) provides a unique planning opportunity because it allows a beneficiary to continue to benefit from his or her own assets while maintaining some level of control...more

Blank Rome LLP

Avoiding Zero Basis for Inherited Assets

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Practitioners involved with the administration of trusts and estates of a decedent may be confronted with the issue of dealing with one or more assets of a decedent discovered after the administration is believed to have been...more

Rivkin Radler LLP

The Importance of Estate Planning

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When we think about making plans to secure our future, generally the discussions revolve around education, career, family, and finances. Creating a comprehensive estate plan, including effective advanced directives, can elude...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, January/February 2024

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Married couples: Joint or separate trusts? Revocable trusts are a key component of many estate plans. Among other things, these trusts allow you to minimize probate expenses, keep your financial affairs private and provide...more

Burns & Levinson LLP

Best Advice to Avoid Common Estate Planning Mistakes

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In my practice, I am fortunate to serve clients in developing tailored estate plans as well as administering the estates of recently deceased loved ones. This dual perspective exposes some common pitfalls that can undermine...more

Goulston & Storrs PC

Massachusetts Doubles Estate Tax Threshold as Part of $1 Billion Tax Reform Act

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On October 4, 2023, Massachusetts enacted a new law called “An Act to improve the Commonwealth’s competitiveness, affordability, and equity” (the “Act”). The Act makes several tax law changes relevant to Massachusetts...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2023

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Preparing for 2026 - Four ways to build flexibility into your estate plan - January 1, 2026, is a significant date for estate planning. On that day, the federal gift and estate tax exemption amount set by the Tax Cuts...more

Adler Pollock & Sheehan P.C.

Dynasty Trust - Create a Trust That Can Span the Ages

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Do you want to leave a legacy for your family? Besides passing along prized heirlooms, you can arrange a long-lasting transfer of wealth through multiple generations by using a dynasty trust. Not only can such a trust avoid...more

Dunlap Bennett & Ludwig PLLC

Essential Things To Know About Trust Administration

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If you have been named as the trustee of a trust, you may be wondering what your responsibilities are and how you can fulfill them. This article offers an overview of trustee duties and highlights the legal risks of serving...more

Burns & Levinson LLP

In the Aftermath of Loss: The First Steps of Estate Administration

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The days and weeks immediately following the passing of a loved one can be extremely stressful and emotional. Arrangements must be made, and paperwork comes flooding in, all while you are coping with the loss and grief. This...more

Ward and Smith, P.A.

Estate Planning With Limited Liability Companies: Transfers of Business Interests as a Planning Opportunity

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Limited liability companies ("LLCs") are used regularly in estate planning to achieve estate tax savings and to consolidate asset management.  The first of these objectives can be realized when a business entity is...more

Winstead PC

When One Is Not Enough: Dividing Fiduciary Powers and Dispositions - Presentation

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Winstead Shareholder David F. Johnson participated in a panel presentation entitled “When One Is Not Enough: Dividing Fiduciary Powers and Dispositions” for the State Bar of Texas’s 29th Advanced Estate Planning Strategies on...more

Freeman Law

Why You Should Hire a Tax Professional to Review Your Trust

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Trusts come in many variations, rendering them often difficult for non-attorneys to follow and comprehend.  Indeed, this variation can often be seen in the nomenclature used for trust arrangements, which includes terms such...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, November/December 2022

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Rising rates spark interest in charitable remainder trusts - If you wish to leave a charitable legacy while generating income during your lifetime, a charitable remainder trust (CRT) may be a viable solution. In addition...more

Katten Muchin Rosenman LLP

Greener Pastures: Five Things to Consider When Leaving One Jurisdiction for Another

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Is the grass always greener on the other side? Like any major life decision, deciding to uproot yourself (and potentially your family) and move from one state to another is not an easy decision. Although laws, taxes and...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, July/August 2022

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Asset protection - How to shield your wealth from lawsuits and creditors - Much of estate planning focuses on transferring your wealth to loved ones in a taxefficient manner. But for many people, it’s equally important...more

Adler Pollock & Sheehan P.C.

Need to Make a “Quick Fix” to Your Will?

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Executing a codicil may be the answer - For most people, the first step in estate planning is to create a legally enforceable will. If you already have a will in place, consider yourself ahead of the game, but you’re far...more

Freeman Law

Releases and Family Settlement Agreements in Trust & Estate Litigation

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A settlement agreement can be beneficial to all parties – it may help reduce litigation costs, facilitate dispute resolution, or guide the parties to a common understanding. However, settlement agreements do not come without...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, November/December 2021

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Getting remarried? Understand your spouse’s inheritance rights - If you’re getting remarried, you may have very different expectations than you did when you married the first time, especially when it comes to estate...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Asset Basis and the Future of the Federal Estate Tax

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The federal estate tax is often a topic of conversation especially in regards to the tax rate and the applicable credit or exemption amount; however, currently another aspect of the estate tax is getting attention – Basis. In...more

Adler Pollock & Sheehan P.C.

Family Advancement Sustainability Trust: A Flexible Trust That Can Achieve Many Estate Planning Goals

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While, ultimately, you create an estate plan to meet technical objectives, such as minimizing gift and estate taxes and protecting your assets from creditors’ claims, you should also consider “softer,” yet equally critical,...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, May/June 2021

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Charitable giving in 2021 - Plan carefully to maximize the tax benefits - In the early days of the COVID-19 pandemic, lawmakers enacted the CARES Act to provide some relief to the ailing economy. One of its provisions,...more

Farella Braun + Martel LLP

Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions

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- Annual inflation-indexing continues to increase the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer taxes. Those of considerable wealth who have not yet made gifts, such as...more

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