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Trusts & Estates: February 2023 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros.
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Dedicating More Of the Great Wealth Transfer to Philanthropy
Sandra Swirski and Tony Macklin discuss the role for wealth and philanthropic advisors in guiding the use of that wealth.The wealth transfer to younger generations currently underway—and projected to...
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Tips From the Pros: Word Formulas That Don’t Work…and Those That Do
Charles A. Redd discusses the use of formula clauses in some recent cases and private letter rulings.One of the most potent and useful tools in an estate planner’s toolbox is language by which...
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Selected Provisions of the Recently Enacted SECURE Act 2.0
The new law includes over 90 changes to the rules that govern individual retirement accounts and employer plans. Three years after the Setting Every Community Up for Retirement Enhancement Act of...
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Corporate Transparency Act Just Got Real For Common Law Trusts
A review of the relevant aspects of the CTA’s final rule. The federal government has developed yet another tool to help crack down on money laundering—this time by documenting who owns closely held...
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The Need for a Trust-Level Investment Policy Statement
The absence of one may create unnecessary liability. It’s hard to watch or read the news without seeing another story about the sharp downdraft in financial markets. And although bear markets...
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Complex Family Enterprise
A new way to describe a growing phenomenon. Trusts and estates practitioners (for example, lawyers, accountants and investment advisors) take their clients as they find them. If you’re writing a will...
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Creating Inclusive Pathways to Increase Presence of Women in Senior Roles
Three key factors that influence the path to leadership. In the United States, the increasing presence of women in senior professional roles as leaders and business owners is accelerating. According...
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High Hopes for New Congressional Family Business Caucus
The focus will be on educating legislators on the contributions and needs of these entities. Things are about to change for America’s largest private employer, the family business. The American family...
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Estate Planning for Family Business Succession
Break down the process into two phases. Many of us have heard the family business statistics before, but they’re worth repeating. Approximately 90% of U.S. businesses are family firms.1 They range in...
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Trusts & Estates: March 2023 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros.
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A Trustee Designs a Template For ILIT Reviews
This standardized approach increases efficiency and reduces risk. A group of experienced trust officers at a mid-sized trust company has assembled in a conference room. Each member of the group has...
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The GRAT Enhancement Strategy
Use life insurance to move appreciation of successfully transferred assets to a dynasty trust. Today, successful estate planning is being hindered by three important factors: (1) many clients are...
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Understanding Private Placement Life Insurance
Planning opportunities and pitfalls. Private placement life insurance (PPLI) is life insurance that has unique features not available for sale to the general public. PPLI policies are designed to...
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Selecting the Best Fit in Long-Term Care Coverage
What’s new in the LTC marketplace. In 2021, I wrote an article for this journal detailing some of the guidelines for identifying and selecting the proper type of long-term care (LTC) coverage for an...
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A Legacy in Book Form
A client can document the emotional significance and actual monetary value of their possessions. A legacy book, which details an individual’s possessions, including artwork and antiques, as well as...
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Fractional Interests in Artwork
A possible asset class and investment opportunity. Collectors who buy to hold and traders who buy to flip share a common sentiment: They both hope that their artwork will increase in value. What...
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Funding a Charitable Remainder Trust With Art
Benefits include an up-front income tax deduction. Rather than selling a work of art and reinvesting the after-tax proceeds into investments that will generate income, philanthropically motivated...
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Navigating the Estate Administration Of Art Collections
How to administer artwork located in different jurisdictions. Estate administration is as dynamic as the many places where an artist or art collector lived, worked, traveled and stored artwork. It’s...
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Trusts & Estates: April 2023 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros.
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