News & Analysis as of September 21, 2024

Trustees

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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 -

[Podcast] Estate and Tax Planning for Globally Mobile Clients: Estate and trust planning by non-Americans for American family...

BakerHostetler on 8/14/2024

Non-Americans who undertake estate and trust planning for their American citizen or resident family members should be aware of the unique tax issues that face Americans and consider these issues when doing their planning....more

Estate Planning to Protect Generational Wealth Transfers: Lessons From The Gilded Age

Robins Kaplan LLP on 6/20/2024

HBO’s The Gilded Age dramatizes the privileged lives of some of America’s wealthiest families in late 19th century New York City. In U.S. history, the Gilded Age covers the 1870s to the late 1890s. Rapid economic growth...more

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

Strafford on 6/3/2024

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

Estate Planning: The Irrevocable Life Insurance Trust

Bowditch & Dewey on 3/29/2024

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

Digital Planning Podcast Episode: Planning for Influencers

Ballard Spahr LLP on 3/27/2024

Join Justin Brown, Jen Zegel, and Ross Bruch as they delve into the digital world of influencer planning on the latest episode of the Digital Planning Podcast, featuring their guest Laura Giles of Ballard Spahr. Tune in to...more

Recent IRS Decision Threatens Some Irrevocable Trust Modifications

Keating Muething & Klekamp PLL on 2/27/2024

A recent Chief Counsel Advice issued by the IRS has been described by one team of estate planning experts as “the most important IRS ruling in a decade,” and it directly contradicts the prior IRS position on the issue. Should...more

Golden Visas and Estate Planning: How You Can Travel and Create Generational Wealth Over-Seas

Burns & Levinson LLP on 9/7/2023

Didn’t get to travel to Europe this summer? Dreaming of retiring abroad? Have a child who is starting school internationally? It is not too late to head overseas and explore the unique benefits of alternative residences...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

[Webinar] Trust Planning 101: Grantor Trusts - June 20th, 12:00 pm - 12:45 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 6/16/2023

Grantor trusts allow for tax deductions on income generated by trust assets whereas non-grantor trusts do not allow for these deductions. It is crucial for people to carefully decide which type of trust is best for their...more

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

Winstead PC on 5/5/2023

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

The Estate Planner, November/December 2022

Shumaker, Loop & Kendrick, LLP on 10/25/2022

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

BUGGED Selecting a Trustee: Individual versus Corporate versus Independent

Woodruff Sawyer on 9/13/2022

Find out how a special needs trust can ensure the financial security of a special-needs loved one, without jeopardizing their public assistance payments....more

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on 9/29/2021

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Can an ABLE Account Benefit Your Family?

Adler Pollock & Sheehan P.C. on 9/21/2021

A family with a disabled child faces difficult planning challenges. For many years, the most effective estate and financial planning tool for parents of a disabled child was a special needs trust (SNT). This trust type...more

Estate Planning 101: The Five Most Important Clauses for Wills and Trusts

Cohen Seglias Pallas Greenhall & Furman PC on 6/1/2021

Presented by Whitney Patience O'Reilly on February 16, 2021. Too often, when planning an estate, individuals and families overlook some key provisions that will better protect their families and their wishes. In this...more

Insurance. Insurance Trusts. Insurance Trusts NOW.

Levenfeld Pearlstein, LLC on 5/4/2021

“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

[Webinar] Estate Planning 101: The Five Most Important Clauses for Wills and Trusts - February 16th, 12:00 pm - 12:30 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 2/8/2021

Too often, when planning an estate, individuals and families overlook some key provisions that will better protect their families and their wishes. In this webinar, Whitney O’Reilly will cover the basics of a good estate plan...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

Legal Considerations of Living Together in a Multi-Generational Home

Bowditch & Dewey on 10/13/2020

During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more

Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan

Tarter Krinsky & Drogin LLP on 9/30/2020

Trusts and Estates Attorney Alexis Gruttadauria joins host and Litigation Partner Rich Schoenstein to discuss “Why You Need an Estate Plan” on the latest episode of Law Brief. Lexi and Rich delve into the legal disposition of...more

[Webinar] US Taxation of Grantor/Non-Grantor Trusts - June 24th, 3:00 pm BST

McDermott Will & Emery on 6/23/2020

Astrid Owen leads this interactive webinar to discuss the US taxation of US beneficiaries and US settlors of non-US trusts. The benefit of using non-US grantor trusts established by a non-US person for US beneficiaries...more

McNees Insights – Estate Planning: March 2020

McNees Wallace & Nurick LLC on 3/3/2020

The current year sees us coming off a good year in the stock market and an economy that is strong. However, in November there is another presidential election cycle, which could bring change to which political party controls...more

Your Retirement Planning and the SECURE Act

Farella Braun + Martel LLP on 2/3/2020

The Setting Every Community Up for Retirement Enhancement Act (or SECURE Act), signed into law on December 20, 2019, changes retirement planning significantly and unexpectedly. The bulk of the changes become effective as of...more

Wills, Trusts and Estates: Plain and Simple - Estate Planning – Besides Saving Estate Taxes, What Should Be On Your Checklist?

Farrell Fritz, P.C. on 10/30/2019

The federal estate tax exemption is now $11.4 million per person ($22.8 million/couple), and the New York State estate tax exemption is now $5,740,000 per person. Generally, the exemption amount is the value of assets that...more

How To Read A Trust

Burns & Levinson LLP on 10/24/2019

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

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