Trust and Estate Planning

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Powerful Trust Planning Opportunities in 2011
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The 2010 Tax Act reinstated the gift, estate and generationskipping transfer taxes that were repealed earlier in 2010. The reinstatement comes with increased transfer tax exemptions and favorable rates for 2011 and 2012. Consequently, the opportunity for making new or additional gifts to trusts has never been more favorable.

Installment Sale to an Intentionally Defective Irrevocable Trust
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This paper provides answers to such questions as what is an intentionally defective irrevocable trust; what is meant by defective; when is this type of trust appropriate; how does an installment sale to an intentionally defective irrevocable trust work, and what are the tax considerations?

The Proposed 2012 Budget: A Call to Action for Estate Planning
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Expected changes in gift, estate, and generation-skipping taxes after 2012 has led many families and advisors to conclude that 2011-2012 presents a valuable, two-year window of opportunity to update estate plans. However, certain developments suggest the best results may be obtained by acting sooner rather than later.

Why Leveraged Gifting Strategies and Why Now
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The increase in the lifetime gifting limit, combined with the temporary nature of the current estate and gift tax law, open a window of opportunity for wealth transfer. Leveraged gifts can safeguard the benefits of this situation by compressing the value of the gift for tax purposes while amplifying the impact of the wealth transfer.

Achieving Tax Benefits through the Inter Vivos QTIP Trust
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This paper addresses a planning technique designed to allow taxpayers to take advantage of the increased exemptions available for the next two years while maintaining some control over the ultimate disposition of wealth.

Tax Implications of Proposed U.S. Budget for High Net Worth Families
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President Obama's proposed budget for fiscal year 2012 includes a reduction in the real estate exemption, a minimum 10-year term for new GRATs, and restrictions on valuing family-controlled entities as well as higher tax rates and reduced savings from itemized deductions for higher-income individuals.

Trust Structure Considerations for Family Offices
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This presentation given at the workshop, "The Evolution of the Small Family Office: Models for Sustainability," covers popular trust structures that promote family involvement, education and succession, and important family considerations and provisions relating to trusts. It also reviews ways to preserve investment management flexibility for a family office within a trust, and key non-tax advantages of trusts.

Trust Distributions: How Much? When? How and (Dare We Say) Why?
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21st century wealth owners and their financial advisors often seek to design trusts that are flexible enough to withstand personal and financial changes yet manage the investment's outcome. Trusts serve the useful purpose of retaining control of funds pending certain events, after which funds may, can or must be transferred to or on behalf of the beneficiaries.

IRS Likely to Announce New Voluntary Disclosure Program
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As the financial world grows increasingly integrated and jurisdictions share ever more information, taxpayers who continue to hold undeclared taxable accounts are at much greater risk of being discovered. The new voluntary disclosure program may represent the best chance to come clean with the IRS.

Tax Smart Planning for the Decade Ahead
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The Tax Relief Act forestalled tax increases for this year, but the future tax environment remains uncertain. Investors need to optimize current tax breaks while considering the impact of potential tax increases on everything from broad wealth management strategies to leveraging debt for tax efficiency.