News & Analysis as of

Trustees Life Insurance

Bowditch & Dewey

Estate Planning: The Irrevocable Life Insurance Trust

Bowditch & Dewey on

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

Husch Blackwell LLP

Guide to Reviewing Your Estate Plan

Husch Blackwell LLP on

Because so many things can change with time, we recommend that our clients review their estate plans every three to five years and update plans as needed. These periodic reviews help to ensure that your affairs are in order,...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2023

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

ArentFox Schiff

Self-Directed IRAs and the Prohibited Transaction Rules – Part 1

ArentFox Schiff on

Part 1: Permitted Investments and Compliance - The self-directed individual retirement account (IRA) is an increasingly popular option for an IRA account owner, especially those owners who have significant net worth and...more

Warner Norcross + Judd

Does a Declaration of Trust Ownership Convert a Beneficiary Designation to a Trust Asset?

In the recent case of Schaddelee as Cotrustee of Ronald Schaddelee Irrevocable Trust v. Deleon as Cotrustee of Ronald Schaddelee Irrevocable Trust, 2023 WL 4143639 (Mich Ct App Jun 22, 2023) (unpublished), the Michigan Court...more

Husch Blackwell LLP

Administering Irrevocable Trusts – A Checklist for Trustees

Husch Blackwell LLP on

A friend, family member, or client has just created an irrevocable trust naming you as the trustee, and you may be asking yourself, “What do I do now?” Serving as a trustee comes with a lot of responsibility. Here are a few...more

Proskauer Rose LLP

Wealth Management Update - April 2023

Proskauer Rose LLP on

The April Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.0%. The April applicable federal rate (“AFR”) for use with a sale to a defective grantor trust or intra-family loan...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, November/December 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

Cole Schotz

The Insurance-Only LLC – A Consideration for Buy-Sell Agreements

Cole Schotz on

When business owners have partners and consider their succession planning, the topic of a buy-sell agreement comes up. This post discusses the possible use of an “insurance-only LLC” as part of a buy-sell....more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, March/April 2022

GST taxes - Plan carefully to avoid surprises - If you wish to share some of your wealth with your grandchildren or great grandchildren — or if your estate plan is likely to benefit these generations — it’s critical to...more

Chambliss, Bahner & Stophel, P.C.

How an Irrevocable Life Insurance Trust Can Be Used to Avoid or Reduce the Estate Tax

With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to...more

Levenfeld Pearlstein, LLC

Insurance. Insurance Trusts. Insurance Trusts NOW.

“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

Patterson Belknap Webb & Tyler LLP

“Diminishing” Returns: A Pre-Petition Change of Life Insurance Beneficiary is Not Subject to Avoidance as a Fraudulent Transfer

Does a debtor’s pre-petition change of the beneficiary of a life insurance policy constitute a “transfer” of an interest of the debtor in property? Not according to the U.S. Bankruptcy Court for the Eastern District of North...more

Gerald Nowotny - Law Office of Gerald R....

THE PAPER CHASE

THE PAPER CHASE - Using the Loan Method of Split Dollar as an alternative to attorney fee deferrals. 1) Defer fees. 2) Once deferred convert fees into tax free income. 3) Reposition in a Structured Settlement Life Insurance...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2019: Estate Planning Pitfall - You’ve waited too long to transfer ownership of your...

Generally, the proceeds of one’s life insurance policy are included in their taxable estate. A person can remove them by transferring ownership of the policy, but there’s a catch: Wait too long, and one’s intentions may be...more

Proskauer Rose LLP

Wealth Management Update - July 2019

Proskauer Rose LLP on

Supreme Court Ruling in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, 588 U.S. [TBD] and its Relevance to Income Taxation of Accumulated Income in California Trusts - The Supreme Court...more

Chambliss, Bahner & Stophel, P.C.

Tips on Creating an Estate Plan that Benefits a Child with Special Needs

Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is...more

Carlton Fields

Court Finds Panel Did Not Manifestly Disregard Law When It Entered FINRA Award In Favor Of Investment Firm And Advisors In Dispute...

Carlton Fields on

The widow of a former NFL football player sued the player’s sports agent and financial adviser, alleging that the former player was defrauded by the agent in connection with the loss of the proceeds of the player’s life...more

Bowditch & Dewey

Estate Planning: The Irrevocable Life Insurance Trust

Bowditch & Dewey on

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

Proskauer Rose LLP

Wealth Management Update - May 2013

Proskauer Rose LLP on

The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.2%, which is a slight decrease from April's rate of 1.4%. The applicable federal rate ("AFR") for use with a sale to a...more

20 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide