ESTATE TAXATION: GREATER CERTAINTY FOR A WHILE

With the passage of the Tax Cuts and Jobs Act of 2017, estate planners now have greater certainty as to the future of federal estate, gift, and generation-skipping taxation – at least, for a while. We look at several techniques that can be used if or when the estate tax resumes in 2025.

FSP Article 2018 May(Click here to download PDF)

WILL YOU BE THE ONE WHO LEADS THE SUCCESSION PLANNING PROCESS?

If you think motivating your client to tackle estate planning is difficult, consider the challenges inherent in business succession planning. Right now, of the thousands of senior citizens newly minted every day, an indefensibly high number are experiencing a failure to launch the succession planning process. Maybe you should be the one to break the logjam. Someone has to, or the prompt to action will be one of those unpleasant involuntary events that can arise, such as family disharmony, health problems, or death.

FSP Article 2018 Jan (Click here to download PDF)

UNTIL THE OTHER SHOE DROPS

Estate tax uncertainty brings with it a variety of planning concerns. We examine those concerns and suggest ideas that should be considered now and in the future.

FSP Article 2017 Sept (Click here to download PDF)

WHEN LIFE INSURANCE EARNS ITS KEEP

It is important to understand how estate planning attorneys and life insurance professionals need to work with each other. There are many times when the professions combine to produce a beneficial result for their clients. Several examples remind us about the important role insurance plays in the financial plan.
FSP Article 2017 May (Click here to download PDF)

PERSPECTIVES ON BUY-SELL AGREEMENTS

Most buy-sell agreements have provisions that are based on underlying assumptions designed to protect the buyer or the seller. What are those provisions, and how are they structured to favor the buyer or the seller? This column summarizes how specific terms of a buy-sell agreement may be designed to operate when certain contingencies pertain. FSP Article 2017 Jan (Click here to download PDF)

THE ESTATE PLANNING INTERVIEW

We look at the estate planning interview and fact-finding process. Topics include information to be gathered before meeting the client face-to-face, beneficiary issues, selection of fiduciaries, and how you can add value to the estate plan.

fsp-article-2016-sept(Click here to download PDF)

WHEN SHOULD INHERITANCES BE UNEQUAL?

Equal treatment of children who are the beneficiaries of an estate plan may be perfectly suitable for many families, but only a point of departure for others. The character of assets, the diverse needs of beneficiaries, and the personality dynamics of family members may demand a more thoughtful solution by the estate planner.

FSP Article 2016 May (Click here to download PDF)

DO YOU STILL NEED AN IRREVOCABLE TRUST FOR LIFE INSURANCE?

The heart of the question includes whether clients who are affluent, but not going to be subject to federal estate tax, should maintain an existing irrevocable trust in view of the current estate tax law. Closely related is the question of what the future estate tax law might be. Predictions on that score are dicey, especially when one projects a client’s own life expectancy and tries to match it with a projection as to future asset values and the estate tax law.

FSP Article 2016 Jan (Click here to download PDF)

FSP Article 2015 JanHEDGING TECHNIQUES IN ESTATE PLANNING

In dealing with various forms of calculated risk, understanding how to play the probabilities can allow a transaction to be successful, or at least to avoid an untoward result. The key point for the estate planner to consider is that hedging can permit strategies based on opposite premises to complement each other.

FSP Article 2015 Jan(Click here to download PDF)

ESTATE PLANNING FOR FAMILY BUSINESS OWNERS

Aligning the division of assets of a family business owner for estate planning purposes can often be a challenging proposition for both clients and advisors. However, everyone involved may have to recognize that reaching a solution may require both patience and a practical sense that the “perfect is the enemy of the good.” The choice of solutions possible offers a great opportunity for the imaginative estate planner to offer lasting value to the family business owner.

FSP Article September 2015(Click here to download PDF)