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by William M. Pearson With the enactment of the One Big Beautiful Bill Act (OBBBA), tax planning and advisors now have more certainty in the estate tax planning landscape.

by Chelsea Ray Riekkola Selecting a Trustee is one of the most important decisions you will make in setting up a trust-based estate plan. The Trustee is the person (or institution) responsible for managing trust assets, following the terms of your trust, and working with beneficiaries and professional advisors during administration. This role is more … Choosing the Right Trustee: Practical Factors to Consider

by Melanie A. Iverson Kaufman The final regulations for the SECURE Act became effective on September 17, 2024. The SECURE Act, first passed in December 2019, made sweeping changes to how retirement accounts are administered. The final regulations answer some of the outstanding questions that remained after passage of this landmark legislation. While the entirety … SECURE Act: Highlights from the Final Regulations

guest article by Attorney Chuck W. Ray, Jr.1 This is a follow-up to the excellent piece in the January 2024 newsletter by Emil Betro on umbrella insurance. As Emil pointed out, reading your excess policy is a good idea. When you do that, you will almost certainly see that your umbrella policy is “form following.” … Umbrella Insurance: A Deeper Dive

As estate planning attorneys, one of our jobs is to advise clients on the handling of assets that pass outside of their living trusts. Individual Retirement Accounts, also known as “IRAs,” are a common retirement savings tool that many clients have in their portfolios. We often get questions about how these accounts pass to beneficiaries … IRA Rollovers, Transfers, and Cashouts . . . Oh My!

The current estate and gift tax exemption, also known as the unified credit, is the amount a person can transfer to a non-spouse U. S. citizen free of estate or gift tax. In 2024 the exemption will be $13.61 million, but it is scheduled to sunset in 2026 to approximately half that amount. Barring an … Now is the Time to Plan for 2026

Part III of our series on post-mortem trust administrations of trusts discussed the difference between receiving an inheritance “outright,” and receiving an inheritance “in trust.” Part IV of the series addresses what beneficiaries of inheritance trusts need to know in order to understand, manage, and protect their inheritance. While many implications stem from receipt of … Post-Mortem Administration Series, Part IV: What You Need to Know About Your Inheritance Trust

At the death of the surviving spouse Trustmaker (or at the death of a single Trustmaker), the trust enters its final phase of administration. At the conclusion of this administration, no assets should remain in the name of the Living Trust, Family Trust, QTIP, or in the name of a Trustmaker. So, where does the … Post-Mortem Administration Series, Part III: How Do Your Beneficiaries Receive Their Inheritance?

In Part I of this series, we discussed what happens to a joint living trust at the death of the first spouse. In this article, Part II of the series, we will take a look at what happens at the death of the survivor. This will depend on (1) whether there is a credit shelter … Post-Mortem Administration Series, Part II: What Happens to Your Trust When the Surviving Trustmaker Dies?

For married couples, what happens to your trust property at the death of the first spouse depends on the estate plan that you chose to implement. In this multi-part series, we will review the different administrative paths that property takes, based on the type of trust and the circumstances. In Part I, we explore what … Post Mortem Administration Series, Part I: With a Joint Trust, What Happens to Your Property when the First Spouse Dies?