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Wealth 3.0: From Fear to Engagement For Families and Advisors
A new approach is needed in mindset and professional services. An oft-repeated parable describes a wise grandfather explaining to his young grandchild how there are two wolves fighting for the soul of...
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Working From the Cabin
Ten considerations for the remote practice of law. After a decade of practice, I hung my own shingle in 2019, and one of my first priorities was to make sure that I could work remotely. No, it wasn’t...
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What I Wish I Knew Before Engaging a Social Media Marketing Agency
A consistent strategy pays dividends. As a senior partner in a boutique estate-planning law firm, I search for ways our 98-year-old firm can remain relevant and keep up with the times. New residents...
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Adding Elder Law to an Established Law Practice
Leverage existing skills and strengths. During my eight years at ElderCounsel, I’ve had the opportunity to speak with many estate-planning attorneys about their practice goals. One goal that’s often...
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How to Talk to Clients About Crypto and NFTs
Practitioners need to keep up-to-date on this investment frontier. In recent months, you may have seen headlines like: “Beeple collection sells for $69M,” “CryptoPunk 4156 Sells for $10.2M” or...
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Should Practitioners Advocate Charitable Giving?
There are arguments both for and against. An issue that often arises in the attorney-client relationship, as within some other professions, is the nature and extent that attorneys should be shaping...
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Trust & Estates: February 2022 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: Screening Clients To Avoid Problems Before They Develop
Charles A. Redd highlights several client intake considerations that should be examined carefully before accepting a new client engagement. In our zeal to build a book of business, there may sometimes...
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U.S. Grantor Trusts With Israeli Resident Beneficiaries
Understanding tax treatment and related planning strategies. Trusts created in the United States require special consideration and care if the trust agreement allows for distributions to be made to an...
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Getting the Family Business Owner To Act on Succession Planning
Break it down into bite-sized pieces and identify and overcome certain key personal concerns.Many of us have heard the family business statistics before, but they’re worth repeating. Approximately 90%...
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In Tax We Trust?
Implications of growing societal and client trends. Most private wealth advisors (including trusts and estates lawyers, accountants and investment advisors) assume that a primary goal of their work is...
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How to Guide a Conversation Around Sustainable Investing
Help family business clients create a legacy for generations to come. Climate change; racial and gender diversity; stakeholder capitalism—several years ago, investment advisors might have been...
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Valuation and Planning Lessons From Smaldino
Tax Court applies IRC Section 2701 special valuation rules. The recent Tax Court decision in Smaldino v. Commissioner1 provides important lessons regarding the valuation of gifts of discounted...
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The Right of Publicity
Name, image and likeness are important assets in estate planning. In recent years, the right of publicity has come under a great deal of scrutiny related to its use and value. In perhaps the most high...
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Defining Value in a Formula Gift Clause
Nelson provides further instruction. There’s something for nearly everyone in the U.S. Tax Court and the U.S. Court of Appeals for the Fifth Circuit opinions in Nelson v. Commissioner.1 Most notably,...
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Attorneys, Valuation Experts and Mediation
A possible solution for clients who want to save money and get closure sooner. The business valuation process can be complicated and expensive, especially if the parties have to go to court. But...
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Trust & Estates: March 2022 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros
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The Impact of Divorce on Estate Planning and Wealth Management
Sponsored by: Fiduciary TrustBirths, deaths, marriages and divorces reshape the definition of family for individuals on a constant basis. It’s no wonder, then, that family law and estate planning...
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How to Handle a Client’s Suspected Cognitive Impairment
What action should practitioners take and when? With the rising number1 of individuals with dementia or Alzheimer’s, lawyers need to be alert to the possibility of cognitive impairment, especially...
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A Boomer at the Crossroads Of a Vintage Policy
When weaving the options, tax planning should loom large. A hypothetical policyholder is about to get on a call with just as hypothetical an insurance advisor. They’re going to discuss the options...
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