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What Does the Proposed ACE Act Mean for Your Clients?
A controversial bill aimed at pushing charitable donors may have unintended consequences. A new bill in Congress by Senators Angus King (D-ME) and Chuck Grassley (R-IA), S. 1981, the Accelerating...
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Donors’ Charitable Pledges
The ins and outs. Warning: An arcane federal estate tax rule can be dangerous to your client’s wealth. Suppose your client wants a charity to get a cash gift on their death.What’s the difference to...
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Form 990-PF Revisions Are Long Overdue
Many of the sections are inapplicable to transitioning organizations. Some public charities lose their tax-exempt status for failure to meet ongoing public support tests over a moving 5-year window.1...
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Charitable Giving With Non-Charitable Trusts
Ideas to discuss with philanthropically inclined clients. Affluent families usually accumulate much of their wealth in trusts.1 These trusts may include charitable trusts, namely either private...
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Trust & Estates: October 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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Tips From the Pros: Unique Trends and Approaches to Charitable Giving
Al W. King III discusses both traditional and non-traditional strategies for charitable giving as part of a client’s estate planning. Population and wealth trends will continue to have an impact on...
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Fiduciary Responsibilities When Auctioning Property
Be careful what you bid for. An increasingly popular option for fiduciaries to dispose of properties that are particularly difficult to maintain or sell is via an auction. Although auctions can yield...
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Using Material Purpose Provisions In Trusts to Uphold Settlor Intent
Prevent unwanted modification, termination or reformation. The Uniform Trust Code (UTC)1 has broadened the circumstances under which an irrevocable trust can be modified, terminated or reformed.2...
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Does ESG Investing Require ESP?
Why wealthy families and their advisors may not need psychic powers to make environmental, social and governance investment decisions Wealthy families and their advisors may not need to develop...
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The Global Adoption of Democracy In Family Governance
Sharing of information is critical to success. Here in the United States, in 2021, there’s a lot of speculation about whether democracy has been challenged and even weakened. I’ve always enjoyed...
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U.S. Estate Planners and Foreign Property: Part I
Non-tax and estate/inheritance tax considerations. The world is changing much faster than at the beginning of our professional careers. It’s vital that every U.S. estate planner understand what’s...
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Inheriting Grandpa’s Secret
Estates with undisclosed foreign accounts. Many times, a death will expose a family secret about some improper or even illegal act done years ago by the decedent. When the guilty secret comes out, the...
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Journey to the West
Considerations for inbound foreign professionals regardless of net worth or length of stay.Foreign executives and professionals are routinely deployed to the United States for a variety of reasons,...
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Pre-Residency Planning for Your Client’s Trust
Domestication in the international context. Trust domestication has become increasingly common for global family trust structures. Whenever U.S. beneficiaries or U.S. settlors are in the mix...
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Trust & Estates: November 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: December 2021
Editor in Chief Susan R. Lipp discusses this month's issue. The divorces of ultra-high-net-worth couples like Bill and Melinda Gates, Jeff Bezos and MacKenzie Scott, as well as John and Jenny Paulson,...
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On the Cover: December 2021
Legal editor Anna Sulkin discusses this month's cover. Legend in December by Alan Reynolds, sold for $17,640 at Doyle’s Latin American & Post-War & Contemporary Art sale on Oct. 27, 2021 in...
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Tax Law Update: December 2021
David A. Handler and Alison E. Lothes highlight the most important tax law developments of the past month. • Closing letters don’t provide full closure—In a partially published correspondence letter...
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The High Cost of Substantial Influence
Christopher P. Woehrle illustrates the need for a foundation manager independent of the control of a disqualified person. You’re neither a donor, officer, employee, director nor incorporator of a...
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Tips From the Pros: Now You See It, Now You Don’t: Tangible Personal Property...
Charles A. Redd discusses the unique trust administration challenges presented by tangible personal property. The bane of many a trustee’s existence is the responsibility and potential liability...
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