Resource Search

Trust protectors are becoming an essential tool in modern trust planning. In this discussion, Brian Lucareli, Director of Foley & Lardner’s Private Client Services and Co-Chair of the Family Offices Team, interviews Jamil Daoud, partner in the Estate Planning Group, on how trust protectors—who are often experienced attorneys or CPAs—help preserve the settlor’s intent, adapt to changing laws and family dynamics, and reduce the risk of costly disputes.

This year brings unique opportunities and challenges following the passage of the One Big Beautiful Bill Act (OBBBA), which reshaped key provisions affecting estate planning, charitable giving, and income tax threshold. Signed into law in 2025, the OBBBA permanently extends key provisions of the Tax Cuts and Jobs Act of 2017 and introduces new measures aimed at easing the fiscal burden on individuals and estates. These changes also include adjustments to funding for certain social programs and green energy initiatives.

Through a series of laws, the U.S. government is ensuring taxpayer's compliance with foreign trust tax and reporting rules. The obvious application of these laws is to a U.S. citizen attempting to transfer cash or income-producing assets to an offshore trust. When dealing with foreign trusts, however, these laws can apply in circumstances where unsuspecting non-U.S. citizen taxpayers can be financially devastated by the consequences.

With the passing of the One Big Beautiful Bill Act (the BBB), there are both risks and tax planning opportunities. In this 10-minute interview, Brian Lucareli, director of Foley Private Client Services and co-chair of the Family Offices group, sits down with Jason Kohout, partner and fellow co-chair, to discuss the BBB. During this session, Jason focused on the estate gift tax exemptions and other planning opportunities.

Through 2048, an estimated $124 trillion in wealth is expected to pass from older to younger generations in the U.S. Additionally, $50 trillion will pass laterally to surviving spouses, the large majority of whom will be women, before making its way down to children. Known as the Great Wealth Transfer, it comes with responsibility for both the owners and inheritors of wealth. Here, five steps are outlined to help you and your family prepare for the change that also represents a shift in power with younger generations stepping into their financial strength.

Effectively transitioning a business to the next generation of owners through a business succession plan that incorporates estate tax planning will result in the most value being retained by the owners and their families. Whether the business is entirely family owned or has unrelated owners, each scenario comes with its own complications but with considerable overlap in planning opportunities.

For many art collectors, the allure of acquiring and displaying art often overshadows the effort required to manage it properly and plan for its eventual disposition. After all, upon death, you can’t take it with you. Estate planning for art collectors involves navigating a complex landscape of valuation, tax, and management issues. Without a strategic approach, the beauty hanging on your walls might be at risk of becoming entangled in tax and legal concerns. So, it’s time to master the art of estate planning so your collection remains a source of pride and prosperity for generations.