Tax Law Update
Internal Revenue Service grants extension of filing deadline for certain estates to make portability election Notice 2012-21 (Feb. 17, 2012) grants executors...
Everyone Likes a Bargain ... a Bargain Sale, That Is
In tax terms, a bargain sale is a sale to a charity for less than the fair market value (FMV) of the item being sold. These sales can be a real win-win:...
Beware of the Reciprocal Trust Doctrine
Many clients are planning to make large gifts before the end of 2012, to take advantage of what may be a fleeting opportunity to do so without incurring...
The State of the States
While federal law remains in flux on numerous fronts, there's been a flurry of state-level developments on a number of topics. Here's an overview of some...
Administrative Nightmares
Gifts to charity are a common feature of estate planning for the wealthy. Although there are myriad advantages to making lifetime gifts, many clients...
Holding Family Business Interests In Trust
Diversify, diversify, diversify. That's the mantra for trust investing under the Uniform Prudent Investor Act (UPIA), which has been adopted in some way,...
UNIFORM LAW UPDATE
Since 1892, the Uniform Law Commission (ULC) has provided states with non-partisan, well-conceived and well-drafted legislation. The ULC is working on...
FIDUCIARY PROFESSIONS
It's well accepted that under the Uniform Prudent Investor Act, a trustee's investment and management decisions regarding individual assets must be evaluated...
Decanting: A Statutory Cornucopia
In certain circumstances, trustees may want to change the terms of an irrevocable trust. This can be accomplished by decanting, which typically refers...
ON THE COVER
This issue features the first Committee Report from our new Family Businesses committee. In keeping with the familial theme, our cover this month, Portrait...
NOTE FROM THE EDITOR
Despite that old adage that blood is thicker than water, many of us seem to have more problems getting along with our relatives than with our friends....
TAX LAW UPDATE
IRS seeks comments on tax consequences of decanting In Notice 2011-101, the Internal Revenue Service requested comments regarding the income, gift, estate...
PHILANTHROPY
Over the years, we've come to realize that the professionals who are most successful in helping their clients implement their charitable goals are those...
Introducing Clients to Financial Therapy
Sooner or later, we, as estate-planning professionals, are exposed to the frustration of clients or beneficiaries who ignore our advice and act in a manner...
BDITs and BDON'Ts
As clients, attorneys and advisors were just getting comfortable with the beneficiary defective inheritor's trust (BDIT), certain practitioners have attempted...
The HIRE Act
The Hiring Incentives to Restore Employment Act (the HIRE Act)1 of 2010, found in Internal Revenue Code Section 6038D, enacted foreign asset disclosure...
Handling the Democratization of Dynasty
These days, problems of governance could hardly seem more acute and alive in a public consciousness driven by the information revolution. There's a heightened...
For the Trustee's Ears Only
The attorney-client privilege protects communications between clients and their attorneys by prohibiting their disclosure and admissibility in a judicial...
The Busy Practitioner's Guide to Student-edited Law Journals
Which articles appearing in student-edited law journals should estate planners and wealth advisors be familiar with? We identified six diverse articles...
Emerging Directed Trust Company Model
Much has been written about modern multi-participant trust governance structures (sometimes called open-architecture trust designs) and evolving principles...
On the Cover
Our cover this month, Vichy Comit Des F (42 in. by 31 in.) by Roger Broders, sold for $13,000 at Swann Auction Galleries' recent The Complete Poster Works...
Note From the Editor
As we begin a new year, many of us set new goals and make plans. But to paraphrase Robert Burns, The best laid schemes of mice and men/Often go awry....
Tax Law Update
IRS issues new proposed regulations regarding alternate valuation date The Internal Revenue Service has published new proposed Treasury regulations under...
Fiduciary Law Update
Appeals court reverses $5 million surcharge against trustee of revocable trust A settlor established a revocable trust with his son as trustee, along...
Family Foundations Forever or Not
When establishing a new private foundation, one of the toughest questions the founders should answer is, Who will run the foundation after we're gone?...
Previous | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | Next
