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June 1, 2004
Articles
LETTERS TO THE EDITOR
THE PROBLEM WITH PROBLEMS WITH PPLI Richard Harris' article in the May issue, The Problems with PPLI (page 40) contains many inaccuracies and over-simplifications...
The Kimbell Victory
Estate-planning lawyers are cheering a recent taxpayer win in the ongoing battle with the Internal Revenue Service over family limited partnerships (FLPs)....
(MORE) MONEY TO SPARE
Wealthy Americans have grown more optimistic about the economy in the last six months, according to an April survey, conducted by mail by the Pinecrest,...
TAX UPDATE
From David Handler of Kirkland & Ellis LLP in Chicago, we have this update: More Audits of Estate Tax Returns. The IRS audited roughly 6.4 percent of...
CHARITABLE GIVING
From David T. Leibell and Daniel L. Daniels of Cummings & Lockwood LLC in Stamford, Conn., we have these updates: Congress and the Internal Revenue Service...
GOODBYE CRUEL WORLD
When subscribers to the World Press Review received the 30th anniversary issue in April, they got a nasty surprise. The magazine, which journalists and...
NEW BOARD MEMBER
We are pleased to annouce the addition of Gideon Rothschild to the Trusts & Estates advisory board. He will serve on the estate planning & taxation committee....
CORRECTIONS
On p.12 of the May Trusts&Estates, the U.S. Supreme Court docket number for Pasquantino was incorrectly identified. It is 03-725. There was a typographical...
Think ESOPs
Employee Stock Ownership Plans (ESOPs) have long been regarded as sophisticated tools for business planning. Much like a profit-sharing plan, an ESOP...
Serving Special Needs
Setting up a self-settled special needs trust (SNT) can be an invaluable way to enhance the standard of living of a disabled client. But missteps by a...
The Shrinking Trustee
The historic origins of trusts stretch back a thousand years.2 Yet the role of the trustee particularly the corporate trustee seems to have changed more...
Funds of Funds Here We Come
While 45.2 percent of family offices of every kind single, multi-family and commercial invest in funds of funds today, a whopping 83.8 percent expect...
Do the Right Thing
Rules, rules and more rules. Estate-planning professionals are barraged with mandates on what they should and should not do. So, in 1998, the Philadelphia...
Fallible Fiduciaries
Five recent cases highlight how fiduciary conduct can depart from the appropriate standard of care. Three involve professional fiduciaries, while two...
Leaping to the Right Conclusion
One of the more controversial issues in recent years has been the valuation of retirement benefits for federal estate-tax purposes. Some practitioners...
Is Estate Planning Expensive?
Estate-planning attorneys are typically at a disadvantage when billing clients. The problem is rooted, in part, in history. Law firms traditionally viewed...
Tell It to the Underwriter
Advisors often spend too much time scrutinizing investments underlying a private placement variable life insurance (PPVLI) policy and too little on the...
Note from the Editor
Trusts & Estates is the town center where experts who serve the ultra-wealthy's planning needs gather to gain insight into their specialties and to learn about related professions. This community includes attorneys, fiduciaries, accountants, investment advisors, charitable giving specialists, family office executives, insurance agents and valuation experts.... More about us
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Don Kelley's Tech Review
Trusts & Estates magazine is pleased to present the monthly Technology Review by Donald H. Kelley -- a respected connoisseur of software and Internet resources wealth management advisors use to further their practices.
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