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Ethical Considerations for Advising The (Un)Happily Married
When done correctly, joint representation can have many benefits. Joint representation of married couples—and increasingly, unmarried romantic partners—is a routine practice for most estate planners....
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Access Denied: Spousal Lifetime Access Trusts in Divorce
How to avoid and navigate surprising tax consequences. A spousal lifetime access trust (SLAT) is a popular estate-planning tool for married couples, particularly those who don’t have the means (or...
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Issues Involving Adult Children In a Gray Divorce
A paramount concern is the attorney-client privilege. The “silver split” or “gray divorce”—the phenomenon of later-in-life divorces —certainly isn’t new, but it’s becoming increasingly common. These...
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Trusts & Estates: September 2023 Digital Edition
Program Trusts & Estates Primary category Trusts & Estates Publish Date Aug 28, 2023 Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips...
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What Donors’ Advisors Should Know About Charitable Gift Annuities
Adhere to state and federal laws when operating a CGA program. In a typical charitable gift annuity (CGA) transaction, an individual (the donor) transfers cash or appreciated marketable securities to...
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Year-End Federal Policy for Donors And Advisors to Watch
Issues on the radar include disaster relief, DAFs and crypto philanthropy. As we enter the last few months of the year, understanding how Congress could act on key issues can help inform philanthropic...
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Charitable Giving Trends: A Brief Overview
The Giving USA Report provides insights to help meet our clients’ situations and goals Americans are very generous, donating nearly half a trillion dollars in 2022.1 Although giving declined from 2020...
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A Different Kind of Philanthropy
How IRC Section 501(c)(4) organizations can help clients meet their goals. Your client, Sally Smith, seeks your counsel about the disposition of her privately held company. She would like to leave a...
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Classifying An Asset for Charitable Purposes
It’s not enough to show that it isn’t held as an investment or to produce income. Many are unaware that the assets of a private foundation (PF) can be categorized as held for either investment or...
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Payday Mayday–Compensation Rules for Private Foundations and Public Charities
Avoiding excise taxes before it’s too late. Charitable organizations are often caught off-guard by the compensation rules for tax-exempt organizations. Implementing proper protocols before...
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Defining a Philanthropic Legacy Through Donor Intent
A critical step in the giving process. Donor intent is a concept too easily dismissed as a “dead hand” rising from the grave to enforce unthinking adherence to selfish and outdated demands. A more...
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From Grantmaking to Problem Solving: The Power of Charitable LLCs
Donors are starting to use new and existing corporate structures to bring about social change. Charitable giving has traditionally been associated with gifts to tax-exempt, non-profit organizations.1...
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The Ugly Side of Charitable Remainder Trusts
IRS cracks down on abusive tax schemes. Inter vivos charitable remainder trusts (CRTs) are often advantageous alternatives to bequests to charity. Unlike charitable gifts by will, CRTs can generate...
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Trusts & Estates: October 2023 Digital Edition
Secondary category Estate Planning Program Trusts & Estates Primary category Trusts & Estates Publish Date Sep 25, 2023 THE ANNUAL CHARITABLE GIVING ISSUE Featured Image TE_COVER-Oct.png...
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Tips From the Pros: Population Trends and Trust Planning
Al W. King III discusses intergenerational estate planning, taking into account the needs and concerns of the various generations of family members. Millennials have surpassed Baby Boomers as the...
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Adequate Disclosure: Where Are We Now?
The Schlapfer v. Commissioner decision provides some guidance. The gift tax has taken a few twists and turns in its lifetime. Originally, the gift tax and the estate tax were “de-coupled,” meaning...
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Time to Rethink the Typical Testamentary QTIP Trust?
Additional approaches to planning with this vehicle. Many advanced estate planners emphasize to their clients the benefits and features of lifetime planning. The estate-planning community has become...
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Distinguishing Use Cases for Joint and Individual Trusts
Which option is best for your clients? Joint revocable trusts enjoy popularity among clients while inviting debate among practitioners. For clients, joint revocable trusts provide a sense of...
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Navigating International Legal Considerations for Advisors Serving...
How to handle prenups, acquisition of residences and privacy and security issues. As high-net-worth and ultra-high-net-worth (UHNW) families increasingly become “global citizens,” the family offices...
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Issues Regarding Charitable Remainder Trusts
A deep dive into their complexities. As Henry VIII said to each of his wives: “I shall not keep you long.”1 And that’s why our discussion of charitable remainder trusts (CRTs) spans three issues.Last...
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