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Understanding Life Insurance Transfer-for-Value and Reportable Policy Sales...
Advisors must beware of the consequences to their clients. The so-called “transfer-for-value” rules under Internal Revenue Code Section 101 govern the tax consequences of the transfer of ownership of...
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Split the Policy and Spare the Dollar
Winning the executive compensation game. Competitive executive compensation planning in non-profit organizations is challenging. State and federal laws as well as public policy often limit the...
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Stretch is Dead, Now What?
Evaluating the options for planning with retirement benefits after the SECURE Act. For many wealthy families, leaving a traditional individual retirement account, or better yet a Roth IRA, to the next...
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Creating Balance in Financially Diverse Partnerships When She Has the Money
How successful couples sidestep predictable traps and master unique challenges. Isabelle, a real estate agent, and Nick, a financial guy, met in their early 40s through a mutual acquaintance. Though...
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Politics and Investing
Perspective and strategies for the 2020 election. Politics is a polarizing subject that elicits strong emotional response from most individuals. Merely uttering the names “Obama” or “Trump” is bound...
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Maintaining Control in an Uncertain Environment
Trusts are one of the best vehicles to provide flexibility. The political and tax uncertainty as a result of the November elections, combined with the current health pandemic and economic uncertainty,...
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State Income Tax Planning and Opportunities
These become more important as the future of federal law remains uncertain. As our country works together to stem the spread of COVID-19, one major issue that seems to have been pushed to the side for...
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Using Powers of Appointment in Trusts
Prepare clients for adverse changes affecting the estate tax. While we don’t know the outcome of the upcoming election, practitioners should counsel clients to plan in advance of possible adverse...
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LGBTQ Planning Issues
Using a special trust advisor. The modern estate-planning attorney will represent a significant number of lesbian, gay, bisexual, transgender and queer (LGBTQ) clients or clients who have family...
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Say a Little Prayer for Your Beneficiaries
Navigating religious conditional bequests. For many, religion can be very personal and important, especially when attending to familial matters. Many religious individuals wish to pass on their...
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Misconceptions Regarding Private Non-Operating Foundations
Practical measures that can help avoid pitfalls. The pandemic has prompted an increased focus on charitable giving. In an effort to encourage donations, recent stimulus legislation made cash gifts to...
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Benefits of Designating a Trusted Contact Person
It may help to curtail elder financial abuse. “Once plague had shut the gates of the town, they had settled down to a life of separation.”1 When plague attacks and quarantine is imposed, it causes a...
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Electronic Notaries, Signatures And Wills, Oh My!
This could be a life and death issue for elderly clients. Recent events, such as the COVID-19 global pandemic, have forced the debate on electronic wills, notaries and signatures back to the forefront...
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Protecting Elders and Their Estates In the Age of the Coronavirus
Planning opportunities may exist. Many are unsettled by the COVID-19 outbreak and its continued medical, economic, psychological and societal effects. Elders in particular, and those who love them,...
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Property or Financial Powers of Attorney
Prudent estate planning or a source of liability? Property or financial powers of attorney (POAs) are ubiquitous in estate planning and with very good reason. The likelihood of becoming incapacitated...
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Moore IRC Section 2043 Issues for FLP Planning
Tax Court further explores the consequences of its holding in Powell. For a period of time, Tax Court decisions regarding family limited partnerships (FLPs) had a familiar read to them. A typical FLP...
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Division of Tangible Personal Property
Eliminate points of contention with careful planning. Almost every estate is comprised of tangible personal property (TPP) that will be subject to division and distribution. Some TPP may be...
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The TCJA Curtails the Benefits of Tax-Affecting, But Opportunity Remains
Now’s a good time to transfer business interests to the next generation. Two opinions were issued last year that changed the landscape of valuing pass-through entities (PTE) for transfer tax purposes....
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