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Following recent amendments to the tax code, both the applicable estate and gift tax exemption and the GST exemption were increased to $11,180,000. This nearly doubled the exemptions available in
Incentive trusts are typically defined as trusts with provisions to encourage or discourage certain types of behavior and promote family values. Despite their appeal, they remain underutilized. One
The Tax Cuts and Jobs Act of 2017 (the “Act”) brought extensive changes and a need to contemplate the doubling of the federal exemption from $5.6 million to $11.2 million for the estate,
Although it is flattering to be asked to be a trustee, you should give careful consideration about serving in this important role, as performing the responsibilities of a fiduciary can expose you to
Whether it be a family member, trusted friend, or professional advisor, whom you pick as a trustee matters. An ideal trustee will follow through on the objectives outlined during your lifetime, your
Despite the easing of estate taxes on many taxpayers, many family-held businesses continue to be burdened with large potential transfer taxes. Using a real-life story of one family business, we show
Becoming a great beneficiary starts with having a great trustee. If a trustee devotes the majority of his or her time to administrative matters and managing investments, the wealth distribution
Many of the wealthiest and most sophisticated families are reconnecting to their family roots in entrepreneurship and are investing in, and managing, direct investments using thoughtfully designed
Tax reform has created major changes and opportunities for high-net-worth taxpayers, particularly those who are real estate investors and developers. The creation of the Internal Revenue Code section
While laws in the United States generally allow trust property to be protected from the creditors of beneficiaries, there has traditionally been an exception to these protections where property in a