News & Analysis as of October 31, 2024

Estate Planning › Investment

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

A guide to blockchain and cryptocurrency regulation 2024: British Virgin Islands (GLI chapter)

Carey Olsen on 10/10/2024

Chris Duncan and Katrina Lindsay have authored the British Virgin Islands (BVI) chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the BVI legal requirements...more

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical...

Charles E. Rounds, Jr. - Suffolk University... on 8/20/2024

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional...more

Have grandkids? Opening 529 Plan Accounts Can Benefit Them and Your Estate Plan

Adler Pollock & Sheehan P.C. on 8/14/2024

The cycle continues: Your adult children — one of the first generations to benefit from Section 529 plans — are saving for their kids’ college educations through 529 accounts of their own. Did you know that parents aren’t the...more

Understanding the Role of an Estate Representative and Choosing the Right Individual for your Estate Plan

Lippes Mathias LLP on 7/29/2024

Once you have taken the essential step in formulating your estate plan, you must name an executor of your Will. Whom should you designate for this significant role, and what is expected of them?...more

Q&A With Anne Paape, Managing Director and Senior Fiduciary Counsel at Cresset

Robins Kaplan LLP on 6/20/2024

The Spotlight had the pleasure of sitting down with Anne Paape, managing director and senior fiduciary counsel at Cresset and Cresset Trust Company, to talk about the historic transfer of wealth many countries are undergoing,...more

Legal-Ease: Steps for When a Loved One Passes Away - Part Two

Foster Swift Collins & Smith on 6/14/2024

This is the second of three articles addressing the topic of what needs to be done when a spouse or loved one passes away. My last article addressed the immediate things that need to be done prior to the decedent’s funeral...more

Legal-Ease: Steps for When a Loved One Passes Away - Part Three

Foster Swift Collins & Smith on 6/14/2024

This is my third and final article addressing what needs to be done after a person passes away. Part 1 addressed what a person needs to do prior to the decedent’s funeral. Part 2 addressed those things that don’t typically...more

How Founders Can Get Paid (and Keep the Cash): A Practical Guide

Lowenstein Sandler LLP on 5/8/2024

Understanding market trends and effective planning strategies can yield improved financial results for start-ups and growth companies. Starting your start-up. What type of entity you form impacts your taxes, which hits your...more

Unlocking Tax Savings: Family Limited Partnerships in Estate Planning

Kohrman Jackson & Krantz LLP on 4/29/2024

As Trump era estate tax cuts are likely coming to an end in 2025, wealthy business owners are increasingly utilizing Family Limited Partnerships (FLPs) to significantly save the family taxes when they are gone....more

Hot Topics for Private Clients and Family Offices from the 2024 Heckerling Institute on Estate Planning – Part Two

Warner Norcross + Judd on 3/29/2024

In our previous blog post on the 2024 Heckerling Institute on Estate Planning, we highlighted some of the concepts and cases related to valuation that were discussed at the conference. In this second post, we share some of...more

Private Client & Trust Bulletin: Fall 2023

Conyers on 12/8/2023

Welcome to the festive edition of the Conyers Private Client & Trust Bulletin, where we update on recent matters of interest from our jurisdictions of Bermuda, BVI and the Cayman Islands. This edition combines the...more

Washington Court of Appeals Limits B&O Tax Deduction for Investment Income

Perkins Coie on 8/7/2023

The Washington Court of Appeals has held that investment funds are subject to Washington state business and occupation (B&O) tax on their investment income. Although Washington law allows taxpayers to deduct “amounts derived...more

Responsibilities of a Special Needs Trust Trustee

Chambliss, Bahner & Stophel, P.C. on 7/14/2023

For individuals with disabilities, an inheritance or settlement can jeopardize a their government benefits, such as Medicaid and Supplemental Security Income (SSI). A special needs trust (SNT) can help the individual remain...more

Planning for the Family Vacation Home

Buckingham, Doolittle & Burroughs, LLC on 1/10/2023

A family vacation home offers an escape from the stresses of everyday life, and an opportunity for bonding. Parents return to their vacation homes year after year, creating memories with their children and grandchildren. If...more

How Can I Tell You?

Gerald Nowotny - Law Office of Gerald R.... on 10/21/2022

I am on the record stating that as far as musical taste is concerned, I am a "horn band" aficionado - Tower of Power, Chicago, Blood, Sweat and Tears. By default, I am not an aficionado of folk music and ballads. Having said...more

An S Corporation’s Sale of Real Property Following the Death of Its Shareholder

Rivkin Radler LLP on 5/31/2022

Don’t Do It- There are certain generally accepted “dos and don’ts” of which almost every investor is certainly aware. For example, do not put all your eggs in one basket; if an investment seems too good to be true, stay...more

All in the Family – Introducing Family-Owned Life Insurance™ (aka FOLI)

Gerald Nowotny - Law Office of Gerald R.... on 4/15/2022

Perhaps you are tired of reading that I grew up in the Panama Canal Zone, but it is one of the last bastions of American colonialism. Personally, I do not like the word “colonialism” because it inevitably conjures up negative...more

Many Taxpayers Realize That This Is The Right Time To Think About Financial Planning

Foodman CPAs & Advisors on 5/6/2021

Professional service providers including CPAs, Attorneys, Life Insurance Agents, Bankers, Brokers, Investment Advisors and Certified Financial Planners often are viewed a Taxpayer’s financial planning “trusted advisors”. ...more

Estate Planning Pitfall: A Significant Portion of Your Wealth is Concentrated in a Single Stock

Adler Pollock & Sheehan P.C. on 10/6/2020

It’s been said repeatedly: Don’t put all your eggs in one basket. Yet many individuals often disregard this adage. And it comes back to haunt them or their heirs at a future date...more

Practical Estate Planning Considerations During a Pandemic

Seyfarth Shaw LLP on 4/10/2020

While the safety of your family is of first priority, the current health and economic crisis caused by COVID-19 raises issues and presents estate planning opportunities for your consideration....more

Financial Planning Season: A way to evaluate your Provider

Foodman CPAs & Advisors on 5/21/2018

After the tax filing season, many Taxpayers realize that this is the right time to think about financial planning; given the fact that their financial records are updated and handy. ...more

Quarterly Investment Update - 4th Quarter 2016

Perkins Coie on 1/30/2017

ECONOMIC REVIEW AND OUTLOOK - In this past year we were reminded again to expect the unexpected: The well-established political classes in the U.K., the U.S. and Italy learned that democracy was their Achilles’ heel, and...more

Choosing an Investment Adviser for a Special Needs Trust

Chambliss, Bahner & Stophel, P.C. on 10/12/2016

Trustees of special needs trusts have a duty to properly manage the funds in their care. However, most trustees, especially non-professional ones, are not sophisticated investors and they should not be directly managing the...more

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