Insight on Estate Planning - April/May 2021

Related Practice: Estate Planning & Administration

Here’s a brief glance at what you’ll find in the April/May issue…

Opening Up to SLAT Opportunities

Estate tax planning can become complicated when multiple parties are involved. For example, one may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for his or her children from a first marriage. Of course, one will also want to take advantage of favorable estate tax provisions in the law. This article details why a spousal lifetime access trust (SLAT) can meet those objectives. A sidebar examines the pitfalls of reciprocal trusts.

Thinking of Moving Abroad? Consider the Estate Tax Planning Implications Before Relocating

Considering moving abroad because of a new career opportunity or looking to retire to a warmer climate? If so, it’s critical to consider how the move may affect one’s estate plan. This article explains the income and estate tax ramifications.

Family Advancement Sustainability Trust: A Flexible Trust That Can Achieve Many Estate Planning Goals

While, ultimately, a person creates an estate plan to meet technical objectives, such as minimizing gift and estate taxes and protecting assets from creditors’ claims, he or she should also consider “softer,” yet equally critical, goals, such as educating children on how to manage wealth responsibly. This article details how a family advancement sustainability trust can help achieve this goal.

Estate Planning Pitfall: You Haven’t Provided a Password List to Relatives

Those who are relatively young and in good health typically ignore the possibility that they could suddenly and unexpectedly become incapacitated or even die. In a worst-case scenario, their loved ones will be locked out of their online accounts. This brief article explains why it’s important not to make this mistake.

Selecting Your Fiduciaries

Making a good fiduciary selection is crucial to an estate plan. This article reviews the points to consider when selecting your fiduciary.

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To discuss issues specific to your circumstances, contact one of our Estate Planning attorneys.