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The big question in the estate planning world today is whether, when, and to what extent the U.S. Congress will enact changes to gift, estate, and income tax laws. With many challenges facing the new
The Millennials are projected to number 73 million, overtaking Baby Boomers as the largest adult segment of the U.S. population. They have different concerns and opinions than their parents, and many
Given the rhetoric and possible need for additional tax revenue in the U.S., families of wealth and their advisors should be aware of the future possibility of the wealth tax particularly when
High net-worth families for whom privacy is a paramount consideration may be concerned that the Corporate Transparency Act, which became law on January 1, 2021, creates a risk of sensitive ownership
With the distinct possibility that the U.S. election can result in tax law changes, it’s time to reinforce the wealth planning strategies. There are four reasons certain wealth transfer
The tax stakes are substantially higher in Massachusetts for the residents than they are for nonresidents. However, with the latest court ruling, Massachusetts estate tax can now apply to out-of-
For families holding illiquid assets, anticipatory pre-liquidity planning can greatly improve asset protection, wealth transfer, and tax outcomes. Using Wyoming entities, a review of pre-liquidity
The basic foundation for every core legacy plan starts with five documents: a will, an irrevocable or living trust, a durable power of attorney for financial management, an advanced medical directive
In the current environment, many families are reevaluating and modifying their fiduciary structures. To assist in these discussions, a reference summary of state laws is provided to help families
In light of the current economic downturn and renewed possibility of rising tax rates, there has been a noted increase in the use of grantor-retained annuity trusts (GRATs). Although this type of