March 2020 Issue
Program Trusts & Estates Primary category Trusts & Estates Publish Date Mar 09, 2020 Charitable Planning Before the Sale of a Business, Estate Planning for Mixed Nationality Families &...
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Drafting See-Through Trusts After the SECURE Act
Choosing optimal distribution dates and amounts. The Setting Every Community Up for Retirement Enhancement (SECURE) Act1 is expected to generate $15.749 billion in added federal income taxes from our...
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Security for Disabled and Chronically Ill Beneficiaries
What we know now and what further guidance is needed. The Setting Every Community Up for Retirement Enhancement (SECURE) Act dramatically changed the required minimum distribution (RMD) rules...
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Is the TEA POT Trust Right for Your Clients?
It may be the best prescription for the new 10-year payout requirements for IRAs. Under the new Setting Every Community Up for Retirement Enhancement (SECURE) Act that became effective for plan...
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Using a CRUT to SECURE the Benefits of a Stretch IRA Trust
Eliminate income tax on retirement account assets. The new 10-year payout for most retirement plan accounts has created renewed interest in naming a charitable remainder trust as beneficiary to avoid...
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Managing the Disposition of an Art Collection
An analysis from three perspectives. If your client has a significant art collection, you’ll likely need to work with different professionals to manage its disposition when the client dies. You may...
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Divorce and the Division of Art Assets In Hong Kong
A review of the steps that clients should take. Hong Kong has become a center for the art world in Asia, hosting major exhibitions and events. Many Hong Kongers and Mainlanders with connections to...
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Avoid Underreporting the Value of Art
Expert’s opinion successfully challenged in court. Recently, in Estate of Kollsman v. Commissioner,1 the U.S. Court of Appeals for the Ninth Circuit affirmed the Tax Court’s 2017 ruling that an art...
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The United Kingdom Welcomes the Art Market to the Regulated Sector
New anti-money laundering legislations target this trade. On Jan. 10, 2020, the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (Regulations 2019) went into effect in the United...
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It’s a Fake!
Forged artwork can seriously compromise a client’s estate. When you’re helping to settle an estate of a client with a large art collection, it can be very disturbing for the client’s heirs to learn...
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HIV and Life Insurance Underwriting
Follow these guidelines to help your clients get the coverage they need. It was nearly 29 years ago when Magic Johnson stunned the world by announcing that he had HIV (human immunodeficiency virus)...
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Help Single Parent Clients Navigate Complex Issues
Insights and solutions for the non-nuclear family. Goodbye nuclear family, and hello 21st century. Your parents’ quintessential family of mom, dad, two kids and a dog may just be a thing of the past....
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Review of Reviews: “The Stranger-to-the-Marriage Doctrine:...
Lee-Ford Tritt, law professor at the University of Florida Levin College of Law in Gainesville, Fla.In 1851, Massachusetts enacted the first modern adoption statute; today, most states allow adoptees...
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Review of Reviews: “The Social Afterlife,” 33 Harv. J.L. & Tech. (forthcoming...
Andrew Gilden, assistant professor of law, Willamette University College of Law in Salem, Ore. In his article that draws from many areas of the law and the public policy concerns supporting each of...
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Review of Reviews: “‘I’d Gladly Pay You Tuesday for a (Tax Deduction) Today:’...
Samuel D. Brunson, professor of law at Loyola University Chicago School of Law in Chicago. In his article, Professor Samuel D. Brunson trots out an argument popular among those seeking to find a cause...
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Fiduciary Law Trends
A round-up of significant court cases. A new year has come and gone with no absence of fascinating cases. The following notable cases highlighted developments we see surfacing in the fiduciary...
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Trusts and the Modern Family
Demographic trends impact who should be a fiduciary. One of the most important decisions a client makes in the estate-planning process is the selection of fiduciaries who’ll represent the client when...
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Special Purpose Entities: A New Frontier
Counsel clients on the various options for trust administration. Recent developments have provided an opportunity to highly customize trust administration, which can confer significant benefits to...
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Considerations for Non-Professional Fiduciaries
A checklist of responsibilities. When family members, friends and other nonprofessionals assume the role of fiduciary—whether it be for a trust or an estate—there are many considerations that advisors...
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Is My Heart Up For It? Literally!
Finding solutions in the midst of a pandemic. Last September, during swim practice with my triathlon team, I suddenly felt my chest tighten and experienced difficulty breathing. My wife took me to the...
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