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To succeed, any organization needs to develop, maintain, and adhere to well-defined business processes and workflows. For family offices, which manage the complex financial and business affairs of
For families with significant wealth, a new IRS Revenue Procedure could result in millions of dollars in tax savings. The procedure makes the Deceased Spouse Unused Exclusion available up to five
With increasing interest rates, the Treasury Department's recent publication of long-awaited proposed regulations will change the life-expectancy factors used in life expectancy-based estate
New regulations proposed by the IRS seek to address the basic exclusion amount for estate and gift taxes which was doubled in 2017 under the Tax Cuts and Jobs Act. The doubling of the exemption is
Over the past decade, the Tennessee legislature has taken significant actions to provide a more practical statutory framework for trust administration. With the latest enhancements to the Tennessee
A Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) is a unique wealth planning strategy and is an effective means to maximize after-tax returns, as well as benefiting charities in
A Charitable Lead Annuity Trust (CLAT) is an effective means to reduce current income taxes, transfer wealth to a family free of gift and estate tax, and benefit charity. Here is an
As family offices consider their tax planning strategy, it is important for their tax attorneys, financial executives, and legal team to conduct an analysis of the Biden Administration’s Tax
Over the past decade, Tennessee has significantly elevated its position as a preeminent jurisdiction to situs a trust. With the latest enacted legislation in the state, that situs status is
In today’s complicated business climate, is your accounting software helping you grow and compete—or holding you back? This guide will help you understand whether it’s time to make