News & Analysis as of September 22, 2024

Wealth Management

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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 -

The Wealth Dispute Navigator: Which Profile Are You?

Robins Kaplan LLP on 9/19/2024

Over the next two decades, reports are estimating that baby boomers will pass down a combined $84.4 trillion in assets to younger generations. Dubbed the “Great Wealth Transfer,” this phenomenon is already underway and will...more

Wealth Management Update - September 2024

Proskauer Rose LLP on 9/6/2024

The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more

[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

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

Holland & Knight LLP on 7/10/2024

Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...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

Once Removed Episode 24: Expressing Goals and Intent for the Trust

McGuireWoods LLP on 6/11/2024

For parents with young children, naming the guardian who will raise their children upon the parents’ passing can be one of the most important and foundational questions of an estate plan. And in fact, because this decision is...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

A Primer On Trusts - A Podcast with Janathan Allen

Allen Barron, Inc. on 10/17/2023

We invite you to listen to our podcast, A Primer on Trusts with Janathan Allen. We begin with an overview of several key terms associated with a trust including: Trustee, Grantor, Beneficiary, Executor, Pour Over Will,...more

Wealth Management Update - August 2023

Proskauer Rose LLP on 8/3/2023

The August 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, an increase from the July 2023 rate of 4.6%. The August applicable federal rate (“AFR”) for use with a sale...more

Navigating Charitable Bequests: Risks and Rewards for Early Planning

Farella Braun + Martel LLP on 7/10/2023

Charitable bequests are an essential aspect of philanthropic planning for high net worth individuals. When engaging in conversations with philanthropic clients, it is crucial to help them determine suitable assets for...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

I’m a Trustee. Can I Withhold Money from an Irresponsible Beneficiary?

Burns & Levinson LLP on 6/8/2023

Many trusts are established with the goal of protecting assets and ensuring the longevity of those assets for future generations. A trustee then may wonder if they have the authority to withhold money from a beneficiary who...more

Comparing Inter Vivos and Testamentary Trusts

Adler Pollock & Sheehan P.C. on 3/9/2023

Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at a minimum or zero tax cost. Of course, a will is a good starting...more

[Webinar] Hello 2023: What 2022 Estate and Trust Developments Mean for the New Year - January 19th, 12:00 pm - 12:30 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 12/27/2022

2022 saw a number of changes to legislation affecting trust and estate planning and administration, including some revisions to tax guidelines. In this webinar, Whitney O’Reilly will recap key updates from the previous year,...more

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

Gray Reed on 12/9/2022

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

Capacity and Estate Planning: What You Need to Know

Burns & Levinson LLP on 12/1/2022

As our loved ones get older, we want to ensure that they have planned for their future. This often means having an estate plan in place to handle the distributions of their assets upon their passing or to plan for their...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

Don’t Pay Lawyers Unnecessarily When You Die

Sands Anderson PC on 10/11/2022

It may seem odd to hear a lawyer say this, but much of my work as an estate planner is helping people avoid future entanglements with lawyers. I regularly help my estate planning clients identify places where litigation or...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

The Estate Planner, September/October 2022

Shumaker, Loop & Kendrick, LLP on 9/6/2022

Estate planning for the happily married - Hedge your bets with a SLAT One of the biggest challenges of estate planning is dealing with uncertainty. For 2022, for example, the federal gift and estate tax exemption is $12.06...more

Selecting a Trustee: Individual versus Corporate versus Independent

Woodruff Sawyer on 8/30/2022

Establishing a trust is an essential part of estate planning. Although some people think trusts are only for the very wealthy, the truth is that a trust is beneficial for anyone who wants to stay in control during their own...more

Protecting Yourself When Serving as a Family Trustee

Warner Norcross + Judd on 8/2/2022

When it comes to selecting trustees, families often choose family members to serve in this role. There are plenty of great reasons to use a family member, and trustee roles can provide useful experience in teaching the next...more

Fun and Games and…Estate Planning?

Sands Anderson PC on 7/15/2022

When we take seemingly mundane tasks and turn them into a game – like who can pick up the toys on the floor the fastest – those tasks suddenly become more fun and easier to accomplish. The gamification process works so well...more

What New Family Trustees Need to Know

Woodruff Sawyer on 2/23/2022

When a family member or friend asks you to become their trustee, it conveys a high level of trust in you. However, many of our clients tell us that they did not fully understand the enormity of the job when they accepted it....more

[Webinar] Top 10 Mistakes Trustees Make and How to Avoid Them - January 27th, 12:00 pm - 1:00 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 1/7/2022

A successful trust administration starts with the right trustee. Whether you have been appointed as a trustee in someone’s will or trust or need to appoint someone as trustee in your own will or trust, you must understand the...more

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