The Role of Life Insurance in Non-Traditional Planning

Advising for diversity Today, there are many forms of non-traditional family arrangements where individuals have chosen to live together and combine their assets. Like their traditional counterparts, unmarried couples of the opposite sex and same-sex couples want to preserve wealth during their lifetime, pass on assets to their partners and build a secure future for … Continue reading

Focus on the Legacy, Not the Tax Bill

As the current estate tax sunsets and uncertainty approaches, reframe your discussions with clients to focus on legacy planning rather than estate tax solutions. Concern over the stuttering economy, uncertainty surrounding the upcoming election and the ambiguity of future estate tax legislation have left many high net-worth Americans stunned and leery about planning for estate … Continue reading

Educating Trustees and Beneficiaries to Prevent Trust Litigation

 If you Google the term “trust and estate litigation,” not only will you find more than 1.2 million hits but many of them are coupled with phrases such as “fast-growing field,” “ever-growing opportunities,” and “hot field.” Beneficiaries’ failure to understand the terms of the trust has been cited by many commentators as a major cause … Continue reading

The Estate Plan: Has the current estate tax climate ended the need for trusts?

Has the current estate tax climate ended the need for trusts? Let’s hope not, because there are still valid reasons advisors should have this structure in their arsenal. In the early part of the last decade, the most common reason for families to replace their wills with a Revocable Living Trust was to reduce exposure … Continue reading

The Flexible Irrevocable Trust

If structured correctly, an irrevocable trust can meet changing family needs without sacrificing its tax benefits. The increased gift tax and generation skipping exemptions provided under the 2010 Tax Act provide a significant opportunity to transfer assets to family members. To take full advantage, many wealthy families have been advised to make substantial gifts before … Continue reading