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Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a centerpiece of his economic plans during his campaign, saying he would, among other things, propose lower and consolidated individual incom...

On November 9, 2016, many Americans woke up to (or stayed awake for) an unexpected election outcome. As of that day, the downside for the DOW and the S&P 500 Index appeared to be less than the declines that occurred after the 2008 and 2012 elections. However, it is still early. During these uncertain times, it is best to stick with your investm...

In 2015 charitable giving rose to $373 billion in the United States, driven by an almost $10 billion increase in gifts from individuals which represent over 70% of total giving. This year individual giving in the U.S. is poised for even greater growth, thanks to several contributing factors, including a solid economy and robust stock market perform...

Trusts classified as foreign for U.S. tax purposes, whether established under the law of a U.S. state or of an offshore jurisdiction, must review whether they have any U.S. tax or information reporting filings to make in 2019 with regard to income earned and distributions made in 2018. This article provides trust officers and family advisers with a...

Over the past decade, matriarchs and patriarchs of successful families have been shifting their focus from their children to a broader group of individuals, such as grandchildren, siblings, and nieces. Often, they choose to create family banks, which are typically trusts that are funded to help individuals pursue entrepreneurial opportunities, vent...

Recent statutory changes in Tennessee law has authorized the separation of the traditional trustee roles by allowing for the appointment of a Trust Advisor (also referred to as a Trust Protector) who can have the authority to “direct” an exercise of a power held by the Trustee, including direction concerning investment and distribution ...

Over the years, many families and their advisers have come to find that the State of Delaware is a trust-friendly jurisdiction that promotes modern laws and attractive income tax advantages. This paper highlights the most significant legal and tax benefits for nonresidents, and their professional advisers, who may be considering whether to establis...

A Life insurance audit is an everything-to-gain, nothing-to-lose proposition for a trustee of a trust that owns life insurance where significant planning is in place. A proper, thorough audit is needed to mitigate the fiduciary liability. It also starts with understanding the difference between a Life Insurance Review and a Life Insurance Audit.&nb...

As more and more investors look to implement impact investment strategies, interesting questions are being raised in the context of impact investing by fiduciaries appointed to administer a trust for beneficiaries. Suppose the beneficiary of a multi-generational, non-charitable trust is interested in integrating her values in a trust established fo...

Death isn’t something many want to think about, but estate planning is a complex topic with consequential decisions. Tolleson Wealth Management President Richard Joyner discusses what to think about and how to select a trustee in this episode. Listen to the next episode to learn about the five principles families should conside...

A trustee’s job is to carry out the intent of the trust creator, using the trust document as a roadmap. Trustees and beneficiaries must work to build a mutually beneficial relationship to ensure long-term success. In the latest Tolleson Insights podcast, President Richard Joyner provides a road map on the five principles families should consi...

Also known as a family trust company, a private trust company (PTC) is an entity that allows families to unbundle fiduciary services in furtherance of family and financial goals. In this overview and primer, learn more about the elements of the PTC structure, board roles and responsibilities, and when it makes sense to form a PTC.

Trusts are valuable tools frequently used to transfer wealth within families, preserve and protect wealth, and reduce taxes. Understanding trusts and the role of the trustee is important for the people establishing trusts and the beneficiaries of those trusts. Building on this foundation, answers are provided to some questions about trusts and trus...

Following the enactment of the Corporate Transparency Act (CTA), the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) explained that the CTA and FinCEN regulations "would help protect the U.S. financial system from illicit use by making it more difficult for bad actors to conceal their financial activities through ent...

As families and their advisers begin to prepare for U.S. entities in their succession planning structures to comply with the Corporate Transparency Act (CTA), consideration should be given to U.S. holding companies and the requirement to report a business street address. This "Supplementary Information" section of the final regulations issued by th...