May 2012 Briefing
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Note From the EditorWhen my name first appeared as editor in chief of Trusts & Estates in May 2010, the estate-planning world was up in the air. Practitioners were waiting... Tax Law UpdateExpanding Petter, Tax Court upholds defined value clauses in favor of taxpayer In Wandry v. Commissioner, T.C. Memo. 2012-88, the Tax Court upheld gifts... Living and Giving in 2012The next eight months promise to be an important time for practitioners who advise clients on effective ways to make charitable gifts. While there's a... Post-Mortem Action Can Limit Class Of BeneficiariesIn Private Letter Ruling 201203003 (Oct. 11, 2011), the decedent left his retirement plan benefits to a trust for the benefit of his wife. Upon his wife's... |
Special Report: Strategies for 2012
A Glimpse Into the Future
Does anyone out there have a crystal ball to see what if anything Congress will do with transfer tax legislation as 2012 draws to a close? Like you, we're...
Adapting to Changing Circumstances
Uncertainty surrounding the estate and gift tax laws has created significant challenges for the estate-planning community. Reasonable minds may differ...
Discussing Gifting With Clients
The estate tax exclusion the amount of the gross estate free of any tax payment1 has increased to $5.12 million per person during 2012 and is scheduled...
Trust Planning in 2012 and Beyond
Estate planning is certainly interesting during these times of legislative, political, fiscal, tax and economic uncertainty. The current gift and generation-skipping...
Gridlock Reigns Supreme
It's clear to me that no changes will be made to federal transfer tax laws this year. As we're all aware, the 112th Congress agrees on very little. It...
Families Must Think Creatively
Families who have had to face the estate tax know that it can destabilize their family businesses and create major headaches for their children and grandchildren....
Features: Estate Planning & Taxation
Estate Planning for Negative Capital
Clients with long-term real estate holdings often have negative capital, which results from cashing out with refinancings and from depreciation. The body...
Using Lifetime Exemptions Today
By now, most of our clients are aware of the current historic opportunity to transfer significant wealth to their heirs free of gift taxes. Not since...
The Wandry Quandary
The Tax Court's March 26, 2012 memorandum decision in Wandry v. Commissioner1 is monumental for defined value clause (DVC) planning. Donors should now...
Special Report: Fiduciary Professions
Exposing the Trust Protector
There's little question about the newfound popularity of trust protectors, which they're undoubtedly enjoying. And why not? They're entitled to a fee...
Liable or Not?
With litigation on the rise, fiduciaries and their advisors are striving to reduce or eliminate risk and understand how time-worn fiduciary principles...
Statements of Wealth Transfer Intent
A deceased client can't comment on how his remaining personal property should be transferred. Is it any wonder then that the pre-death writing of a client's...
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