Educational Alerts

U. S. Supreme Court Rules DOMA Unconstitutional: Estate Planning for LGBT Couples just got easier – and more complicated

JUL 18, 2013
The U.S. Supreme Court recently released two decisions concerning same-sex marriages. This alert examines the landscape of same-sex marriage and estate planning for LGBT couples in light of Windsor and Petty. Read More

Planning for retirement assets can be difficult

MAR 29, 2013
This month’s Alert examines the rules regarding distributions from IRAs and retirement plans. In particular, it examines reasons to make a trust the beneficiary and rules regarding who is the measuring life for minimum required distribution purposes. Read More

Guardianship provisions essential to a comprehensive estate plan

FEB 28, 2013
This month’s Alert examines two high-profile cases which illustrate the importance of naming guardians for minor children. Read More

More reasons for clients to review their estate plans

JAN 31, 2013
This month’s Alert examines how the “fiscal cliff” legislation could result in changes for estate plans. Depending on the couple, it might mean they could simplify their plan. However, there are many non-tax reasons that they may want to keep a more complex plan. Read More

New Year’s Resolution #3 – Get my estate plan reviewed

JAN 14, 2013
This month’s Alert discusses how the “fiscal cliff” legislation impacts your clients’ estate plans. Read More

Estate Planning for LGBT couples: Possible changes on the horizon

NOV 30, 2012
This month’s Alert gives an overview of developments affecting estate planning for same-sex couples. It recounts how recent elections approved same-sex marriages in several states. It also examines several cases which address the constitutionality of bans on same-sex marriage, including the Defense of Marriage Act. Read More

Last chance for Estate Tax savings?

OCT 31, 2012
This month’s alert focuses on the narrowing window to lock-in the current $5.12 million estate and gift tax exemption by gifting prior to year-end. The alert also examines why it may not be possible to wait and do this planning at the last minute. Read More

2010 Tax Law leads to 2012 litigation

OCT 01, 2012
This month’s Alert focuses on the increased trust litigation arising from the unintended consequences of the temporary repeal of the estate tax in 2010. Read More

“Use it before you lose it” – Planning equally applicable to LGBT and unmarried partners

AUG 31, 2012
In this month’s alert we examine how your clients, including LGBT clients and unmarried partners, can remove over $5 million free from estate tax and how this opportunity may be vanishing soon. Read More

TAX BREAK EXTENSION LEGISLATION EXCLUDES ESTATE TAX; ACT NOW TO LOCK IN $5.12 MILLION EXCLUSION AMOUNT

JUL 31, 2012
The estate tax exclusion is scheduled to revert to $1 million at year-end from the current level of $5.12 million. This Alert examines the current political landscape concerning the estate tax and suggests taking advantage of the current, historically-high exclusion amount before it’s too late. Read More

IRS ISSUES “PORTABILITY” GUIDANCE

JUN 30, 2012
The Alert this month examines “portability” and the steps necessary to take advantage of it under newly-released regulations. Read More

PLANNING BLUNDER LEADS TO INCREASED INCOME TAXES

MAY 31, 2012
This month’s Alert examines the importance of proper IRA beneficiary designations. The Alert examines a case in which the stretch of IRA distributions was not maximized because of the beneficiary designation. Read More

HIS, HERS, OR OURS? – ESTATE PLANNING FOR BLENDED FAMILIES
APR 30, 2012

With more than half of marriages ending in divorce, an increasing number of families are “blended families.” The Alert this month examines the unique issues faced in planning for blended families. Read More

MILLIONS IN TAX SAVINGS AVAILABLE TO CLIENTS WHO ACT QUICKLY
APR 03, 2012

This month’s alert examines the current, perhaps short-lived, opportunity for clients to give away millions of dollars during their lifetime without a gift tax. Unless the law changes, this narrow window will close at year-end. Read More

DOUBLE DISCLAIMER SAVES MILLIONS IN ESTATE AND GST TAX
FEB 29, 2012

This month’s Alert examines how effective use of disclaimers can save millions in taxes. The Alert examines a ruling request presented to the IRS involving such a situation. Read More

TAX CHANGES FOR 2012
JAN 31, 2012

This month’s Alert reviews the inflation adjustments applicable to federal taxation in 2012. It examines changes in the estate, gift, and generation skipping transfer taxes, as well as income taxes. Read More

INCOME FROM TRUST EXCLUDED IN DETERMINING ALIMONY PAYMENTS
DEC 30, 2011

This month’s Alert examines when the income of a trust may be considered available to creditors. The Alert examines a case involving the availability for purposes of determining alimony. Read More

FATE OF ESTATE AND GIFT TAXES REMAINS UNCERTAIN – BUT, MANY PLANNING OPTIONS REMAIN AVAILABLE FOR NOW
NOV 30, 2011

This month’s Alert examines the continuing uncertainty with the Estate and Gift Tax and the unique, limited-time opportunities which are available now. Read More

WISCONSIN APPEALS COURT HOLDS ASSETS OF IRREVOCABLE TRUST ARE AVAILABLE FOR MEDICAID ELIGIBILITY PURPOSES
OCT 31, 2011

Elder law is an increasingly important area of law for clients. This month’s Alert examines a Wisconsin case concerning an Irrevocable trust which was included as an available asset for Medicaid purposes. The Alert also examines what they could have done differently to achieve a better result. Read More

IRS ISSUES INSTRUCTIONS FOR ESTATE TAX RETURNS FOR DECEDENTS DYING IN 2011 AND 2012
SEP 30, 2011

This month’s Alert examines the IRS’ recent release of instructions regarding how to ensure portability of the applicable exclusion amount at the death of the first spouse. Many surviving spouses may see an estate tax return at the death of the first spouse to be unnecessary. This alert shows why advisors should document that they advised the filing of an estate tax return. Read More

A “DO-IT-YOURSELF” MYSTERY: THE CASE OF THE NEIGHBOR GIRL AND THE WELL-MEANING WIDOW
AUG 31, 2011

Clients occasionally attempt do-it-yourself estate planning. Sometimes they use software assistance, borrow from others’ documents, or amend their professionally prepared documents themselves. This month’s Alert looks at one such story and the havoc it wrought. In the end, the client’s goals were not achieved and her loved ones were pitted against each other in court. Read More

FAILURE TO REVIEW ESTATE PLANS PERIODICALLY CAN LEAD TO UNINTENDED CONSEQUENCES
AUG 01, 2011

The estate tax law is a moving target, both at the federal and state level. This month’s Alert examines a case which illustrates how the changing laws can result in unintended results in your plan. Now, more than ever, it is important to review your estate plan periodically to ensure the outcome you want. Read More

2012 BUDGET PROPOSAL INCLUDES PERMANENT ESTATE AND GIFT TAX REFORMS
JUN 30, 2011

This month’s Alert examines the Obama Administration’s 2012 budget proposal and how it might affect estate, gift, GST, and income taxes. Further, the Alert looks at how our tax system compares to other developed countries. Read More

DOING IT YOURSELF CAN SOMETIMES LEAD TO DISASTER
MAY 31, 2011

Nowadays, a growing number of consumers attempt to prepare estate planning and other documents of legal significance without professional assistance. These do-it-yourselfers are penny-wise and pound-foolish. This Alert examines several cases in which the decedent attempted to create or modify his own estate plan, with disastrous results. Read More

CREDITOR PROTECTION EXTENDED TO INHERITED IRAS BY MORE COURTS
APR 29, 2011

IRAs and Qualified Plans are an increasing portion of our clients’ wealth. The advantages of the income tax deferral are well-known. This month’s Alert looks at developments regarding the creditor protection such plans provide, not only for the contributor, but also for those who inherit them. Read More

ELIZABETH TAYLOR’S ESTATE COULD EXCEED $1 BILLION – MUCH OF IT COULD BENEFIT AIDS CHARITIES
MAR 31, 2011

Elizabeth Taylor died recently with a $1 billion estate. This month’s Alert focuses on her estate, her philanthropy, and various advanced estate planning techniques with a charitable component. Read this month’s Alert to find out how charitable giving can help you and your clients meet estate planning goals. Read More

ANNUITY MAXIMIZATION
FEB 28, 2011

This Alert examines how a tax-deferred annuity may not be the best solution for senior clients. It demonstrates how a single premium immediate annuity, or “SPIA” may be a better alternative for clients, especially if the client is in a lower tax bracket than the children who will inherit it. Read More

DOUBLE DISCLAIMER SAVES MILLIONS IN ESTATE AND GST TAX
FEB 28, 2011

This month’s Alert examines how effective use of disclaimers can save millions in taxes. The Alert examines a ruling request presented to the IRS involving such a situation. Read More

TRA 2010 CREATES OPPORTUNITY FOR NEW PLANNING STRATEGY – THE FLEXTRUST
JAN 31, 2011

The question of whether to fund a credit shelter trust has long been a central question in estate planning. With the new tax law and it’s temporarily increased exemption, the question is all the more relevant. This month’s alert discusses a new method of adding flexibility to your clients’ trust. The FlexTrust allows an independent Trust Advisor to decide whether and to what extent the credit shelter trust should be funded. Read More