Following the IRS’ finalization of the SECURE Act regulations on July 18, 2024, it is a good time to review the retirement benefit provisions of your trust to make sure they still align with your estate planning goals....more
3/4/2025
/ Beneficiaries ,
Conduit Trust ,
Estate Planning ,
IRS ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Tax Deferral ,
Trust Distributions ,
Trustees ,
Trusts
There is a common misconception that life insurance benefits are not subject to estate tax. While the proceeds of a life insurance policy are not taxable income to the beneficiaries, they are part of a person’s taxable estate...more
Estate plans are supposed to be living documents that evolve over time. Generally, you should review your plan every 5 years to stay current, or whenever you or your beneficiaries have a major life event such as marriage, the...more
11/1/2021
/ Asset Management ,
Beneficiaries ,
Beneficiary Designations ,
Estate Planning ,
Incapacitated Persons ,
Personal Representatives ,
Successors ,
Trust Distributions ,
Trustees ,
Trusts ,
Wills
In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more
9/29/2021
/ 401k ,
Adjusted Gross Income ,
Beneficiaries ,
Capital Gains ,
Capital Gains Tax ,
Charitable Deductions ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Federal Taxes ,
Gift Tax ,
Grantor Trusts ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Investors ,
IRS ,
Proposed Legislation ,
Retirement ,
Retirement Funds ,
Roth IRA ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Liability ,
Tax Planning ,
Tax Rates ,
Trustees ,
Trusts ,
Ways and Means Committee
During the COVID-19 pandemic, many people are taking action to make sure that their affairs are in order – reviewing guardian nominations for their minor children, funding their revocable trusts and, in some cases, making...more
There is a common misconception that life insurance benefits are not subject to estate tax. While the proceeds of a life insurance policy are not taxable income to the beneficiaries, they are part of a person’s taxable estate...more
There are special estate tax planning considerations when a non-U.S. citizen spouse is part of the picture. To be clear, a non-U.S. citizen spouse may be living in the U.S. and even hold a green card, but he or she does not...more
6/22/2018
/ Asset Management ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Non-Citizens ,
Qualified Domestic Trust (QDOT) ,
Spouses ,
Tax Deductions ,
Tax Exemptions ,
Tax Planning ,
Transfer of Assets ,
Transfer on Death Deed (TOD) ,
Trustees
Estate planning is about formalizing your intentions for what will happen when you pass away. For those in a second marriage with children from a prior relationship, it is even more important to spell out your intentions and...more