What is the future of the estate planning profession? What does that mean for your income and your future? Can you adapt and if so how? What are key issues that are transforming the profession and what insights into those forces can be mined to improve your results? Jonathan G. Blattmachr, Alan F. Rothschild, Jr.,…
It is common for families to try to pass on, as a legacy to children and future generations, a family vacation home. Because of the almost endless permutations of family interpersonal relationships, financial differences, types of homes, etc. there are many different ways to plan for this. There are also many ways for this common…
If you or any of your heirs identify as LGBTQ+ it may be beneficial to consider a novel planning concept that might help protect your loved ones from various issues that might arise. This may entail appointing a person as a trust protector, and giving them specified limited powers to appoint trust assets. This may…
Domestic Asset Protection Trusts (DAPTs) were upheld in a recent DE case. Subsequent to that the defendants was tagged in a CO decision Can IV Packard Square LLC v. Harbor Real Estate Company, LLC and Craig E. Schubiner, No. 23-cv-00934-CYC (D. Colo. Sept. 22, 2025). Does that impact DAPT or asset protection planning? There is…
Promoting wellness in your estate planning practice is not an option, it is not a luxury, and it is an investment that will have a significant return, both in quality of life and dollars. Hence, it is a moral and economic necessity. To enhance the profitability of your firm, reduce the risks of malpractice claims,…
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter Archive Message #3249. The new tax laws and the permanent high estate tax exemption may have changed the calculus of what should be done with respect to existing irrevocable trusts. But the wide range of factors affecting what might be done, and the many options (and…
This article was originally posted on Steve Leimberg’s Business Entities Email Newsletter Archive Message #296. Under the Corporate Transparency Act, certain information about the Beneficial Owners of certain ‘small’ entities must be provided to the Financial Crimes Enforcement Network of the US Treasury Department. When a trust is an equity owner of a reporting company, it can…
Originally posted on Forbes.com The Corporate Transparency Act (CTA), a burdensome new law that would require some 32 million closely held businesses to file invasive information with the Financial Crimes Enforcement Network (FinCEN), has just been declared unconstitutional in National Small Business United, d/b/a the National Small Business Association (NSBA) vs. Janet Yellen, in…
This article was originally posted on Steve Leimberg’s Estate Planning Email Newsletter as Archive Message #1880. Portability has been trumpeted by some in the media as one of the most significant estate planning benefits of The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“TRUIRJCA”), which was created in Sections 302(a)(1) and 303(a)….
Originally posted on Forbes.com Recent Proposal The House Democrats are proposing a $3.5 trillion spending plan. To support that package the Democrats have proposed tax increases to fund a large portion of that plan. The House Ways and Means Committee just issued statutory language for the tax increase proposal. While the tax legislative process will no…