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Trust & Estates: July/August 2021 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros
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Tax Law Update: September 2021
David A. Handler and Alison E. Lothes highlight the most important tax law developments of the past month. Dispute over whether transaction was gift or contract. In Pratte v. Bardwell (D. Ariz. No....
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Donor-Advised Funds 2, Litigants 0
Christopher P. Woehrle examines a recent unsuccessful challenge to a commercially sponsored donor-advised fund. With the expansion of the standard deduction under the Tax Cuts and Jobs Act of 2017,...
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Tips From the Pros: Zero Tax Trusts?
Al W. King III discusses the use of private placement life insurance trusts as a strategy to lessen the burden of President Biden’s proposed higher federal and state income and capital gains taxes....
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Legality of the Postnuptial Agreement
Courts around the country take different views. Throughout the 20th century, state laws constantly evolved relative to prenuptial agreements (prenups). Many states opened the doors in the early part...
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Don’t Overlook a Trust’s Material Purpose
Skipping this important step could unravel your nonjudicial settlement agreement. The majority of jurisdictions now allow for trust beneficiaries and fiduciaries to resolve trust matters by consent...
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Contracts to Make a Will
They can be used for estate plans and charitable giving.A donor wanted to make a charitable gift at death. We suggested an irrevocable pledge payable on death. Then, a question arose that was never...
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Help—My Child is About to Receive A Windfall!
How to handle oversized minor’s trusts and custodial accounts. We all know about “Crummey trusts” as a way to make annual exclusion gifts to children.1 In such trusts, the child has the right to...
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The 2021 Green Book’s Focus On Income Taxes
Biden seeks to shift the paradigm further. On May 28, President Biden and his administration released its revenue-raising proposals in the Treasury Department’s General Explanations of the...
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Get a “GRIP” in This Uncertain Tax Environment
A valuable estate-planning technique for clients who want to lock in what’s remaining of their $11.7 million exemption. With the current environment in Washington, clients are nervous and seeking our...
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Sharia Inheritance Estate Plans
Unique use of limited power of appointment may help address risk of conflict and controversy. As advisors, it’s important to be sensitive to our clients’ unique values and objectives. In many cases, a...
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A Small Step for an Impatient Beneficiary
A giant leap (backwards) for the Uniform Law Commission. Once upon a time . . . in 1841, the English Court of Chancery ruled that a beneficiary could petition to terminate a trust in clear violation...
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Trust & Estates: September 2021 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros
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Note From the Editor: September 2021
Editor in Chief Susan R. Lipp discusses this month's issue. I first heard the term “cultural competency” at a session I attended at the Heckerling Institute on Estate Planning in January 2020. Since...
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On the Cover: September 2021
Legal editor Anna Sulkin discusses this month's cover. Her Secret Garden by Janet Taylor Pickett sold for $47,500 at Christie’s First Open | Post-War & Contemporary Art Online auction on July...
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Note From the Editor: October 2021
Editor in Chief Susan R. Lipp discusses this month's issue. Over the past few years, there’s been some debate in the philanthropic community over whether donor-advised funds (DAFs) actually meet the...
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On the Cover: October 2021
Legal editor Anna Sulkin discusses this month's cover. A Tomcat and a Cowboy Walk Into a Bar by Aaron Johnson, sold for $500 at Heritage Auctions Prints & Multiples Showcase Auction on Sept. 15,...
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Tax Law Update: October 2021
David A. Handler and Alison E. Lothes highlight the most important tax law developments of the past month. • Oregon Supreme Court upholds including out-of-state QTIP trust in surviving spouse’s...
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Tips From the Pros: After the Divorce: What About Qualified Plan Beneficiary...
Charles A. Redd discusses Kennedy v. Plan Administrator for DuPont Savings and Investment Plan and Hebert v. Cunningham. A typical divorce is a long, expensive and stressful ordeal. By the end of the...
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Charitable Remainder Trusts: When Things Go Wrong
How to anticipate and avoid errors and mistakes. A charitable remainder trust (CRT) is a split-interest trust that meets a specific federal tax law definition throughout its term. Errors can occur...
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