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Three Essential Checklists for Running an Irrevocable Trust
BMO Family Office
When an irrevocable trust meets all of its goals, it is reflective of following the three essential checklists that focus on the people, the establishment of the trust, and the running of the trust.
Spousal Lifetime Access Trusts Offer Flexibility in Asset Protection and Estate Planning
Baker Tilly
For married couples looking to use their lifetime gift exemptions and protect their assets, spousal lifetime access trusts (SLATs) are an attractive option. Planning to use the increased exemption
House Releases Rewrite of Build Back Better Tax Proposals
BDO
The House Budget Committee released a version of H.R. 5376 (the Build Back Better Act), which eliminated many of the previously proposed tax increases that would have impacted individuals. However,
Third Time's the Charm?
BDO
The House Budget Committee released a third version of H.R. 5376 (the Build Back Better Act) on November 3, 2021. This draft increases the state and local tax deduction, brings back many of the
The Private Family Trust Company and Powerful Alternatives
40% of families now gift their assets through trusts compared to 12.5% in 1995. Directed trusts, special purpose entities, trust protector companies, and regulated and unregulated private trust
Update on Proposed Tax Changes Affecting Estate Planning
Warner Norcross + Judd
The White House released a retooled framework for the Build Back Better Act on October 28, 2021. Notable aspects of the Biden framework that will affect estate planning include estate and gift tax
Triage Tax Planning in the US: Adapting to an Uncertain Tax Bill
Cambridge Associates
The Build Back Better Act recently introduced in the US House of Representatives includes many tax provisions that would significantly impact US taxpayers. However, any major bill’s road from
Family Offices and Tax Changes: Considerations from the House Proposal
RSM US
Family offices anticipating a variety of tax law changes now have more details to consider. How would the tax law changes proposed by the House Ways & Means Committee affect family offices and
2021 Year-End Planning and Tax Checklist
BNY Mellon Wealth Management
With so many potential tax changes ahead, it's time to make sure you're checking all the boxes on things you can do to protect your wealth. Now is the time to ensure your wealth plan reflects
Tax Law Changes Are Coming Soon
BMO Family Office
The proposed Build Back America Act, a $1.85 trillion social-policy and climate framework, is working its way through Congress. While the notable prior proposals were absent, the current legislation