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Managing an ILIT’s Grantor Trust Status In Light of IRC Section 677(a)(3)
There’s a way through the maze. The transfer of assets by gift, sale or loan to an irrevocable dynasty trust that’s a grantor trust for income tax purposes has become a cornerstone of sophisticated...
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Problem Irrevocable Life Insurance Trusts
The client has an ILIT and doesn’t like it—what can you do? Your client may be suffering from irrevocable life insurance trust (ILIT) fatigue. This syndrome occurs when clients question the wisdom of...
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The Role of Life Settlements In Estate Planning
Capturing unrecognized value in insurance policies. Life insurance is a mainstay in estate and business succession/buy-sell planning. Despite its widespread use, however, many advisors and their...
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Copyright Considerations With NFTs
As more clients acquire and collect non-fungible tokens, practitioners need to be on the look out for certain issues. Recently, visual artists and other content creators have increasingly minted...
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The Meteoric Rise of the NFT Auction Market
How non-fungible tokens fit within the art and collectibles ecosystem. A long with many, you may be confused by non-fungible tokens (NFTs) and how they fit within the art and collectibles auction...
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The Increasing Value Of Celebrity Archives
The whole is worth more than the sum of the parts. Recently, we’ve seen many news articles on the sale of celebrity archives for significant amounts of money.1 Archives are a particular asset...
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Non-Fungible Tokens: A Fiduciary, Tax and Legal Snapshot
NFTs provide new challenges for administration and transfer that will keep all of us on our toes. Given that the desire for non-fungible tokens (NFTs) is only getting stronger, and the prices only...
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Primer on Working with High-Net-Worth Family and Family Offices
Sponsored by: Bridgeford Trust (GOLD)Panelists will give an overview of the issues involved with working with high-net-worth (HNW) clients and family offices. Topics will include the definition of a...
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ESG Investing in Trusts
Sponsored by InterActive LegalFiduciaries are often called on to invest in environmental, social, and governmental (ESG) causes. How do they accomplish this while complying with their duties under the...
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Recent Development Update
Sponsored by: American Heart AssociationWhat’s the latest on the Biden administration tax proposals, the possible wealth surcharge, and other changes being considered? How should estate planning...
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Trust & Estates: April 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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Interested in Crypto? Because Your Lawmakers Are
Sandra G. Swirski discuss new and proposed governmental rules and regulations of this asset class.Enthusiasm about crypto is big and growing exponentially. Last November, digital assets surpassed a $3...
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Tips From the Pros: What Basis Consistency Regulations?
Charles A. Redd details the problematic provisions of the proposed regulations regarding the determination of the final value of property for the purposes of establishing its basis. President Obama...
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Use of Formula Clauses To Value Gifts
Creative strategies to avoid challenges. Formula clauses have been used in estate planning almost as long as there’s been an estate tax. Practitioners have historically used formulas to determine how...
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The Probate Exception: We’re Not Just in State Court Anymore
When federal diversity jurisdiction is possible The probate exception to federal diversity jurisdiction historically had been an effective bar to keeping estate and trust practitioners out of the...
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The Divisible Pot Trust
A reimagining of the traditional dynasty structure. Dynasty trusts are now more en vogue than ever due to the highest federal gift, estate and generation-skipping transfer (GST) tax exemption amounts...
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Addressing Lawyer Mental Health Issues in Your Practice
How practitioners, firms and families can help. Depression, drug use, suicide, alcohol abuse and a host of struggles that we as lawyers help clients with plague us as well. Our profession faces a...
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Considering Quiet Trusts in the Larger Picture of Family Governance
Prepare beneficiaries for wealth. Although they’re called “quiet” trusts, we hear about these now more than ever. By quiet trusts, I’m referring to trusts that permit keeping the existence of the...
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Fiduciary Law Trends
A roundup of significant court cases. With courts reopening and a global pandemic seemingly under control, we noticed an uptick in fiduciary-related cases. Cases remain fascinating with a plethora of...
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Taking the Next Step With ESG Investing in Trusts
Drafting tips and considerations for trustees and their advisors. As many now know, environmental, social and governance (ESG) investing is clearly a thing.1 As of December 2021, assets in U.S....
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