Estate Planning Strategies Columns
Journal of Financial Service Professionals
Since May 2003, Dennis C. Reardon has written the “Estate Planning Strategies” column for the Journal of Financial Service Professionals. For example, his columns from 2011 through 2018, newest first, each with a brief summary, are shown below. Click a title to read the full column (PDF).
Columns are reprinted with permission from the Society of Financial Service Professionals. Reproduction is prohibited without the publisher’s written permission. Tax figures and law discussed reflect the date of each column.
Estate Taxation: Greater Certainty for a While
May 2018 · Read the column (PDF)
With the passage of the Tax Cuts and Jobs Act of 2017, estate planners had greater certainty as to the future of federal estate, gift, and generation-skipping taxation. That certainty has now been reinforced by the passage of the One Big Beautiful Bill Act (OBBBA), effective in 2026.
Will You Be the One Who Leads the Succession Planning Process?
January 2018 · Read the column (PDF)
If you think motivating your client to tackle estate planning is difficult, consider the challenges inherent in business succession planning. Maybe you should be the one to break the logjam.
Until the Other Shoe Drops
September 2017 · Read the column (PDF)
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.
When Life Insurance Earns Its Keep
May 2017 · Read the column (PDF)
It is important to understand how estate planning attorneys and life insurance professionals need to work with each other. Several examples remind us about the important role insurance plays.
Perspectives on Buy-Sell Agreements
January 2017 · Read the column (PDF)
Most buy-sell agreements have provisions based on underlying assumptions designed to protect the buyer or the seller. This column summarizes how specific terms may be designed to operate when certain contingencies pertain.
The Estate Planning Interview
September 2016 · Read the column (PDF)
We look at the estate planning interview and fact-finding process, including information to be gathered before meeting the client, beneficiary issues, selection of fiduciaries, and how you can add value to the estate plan.
When Should Inheritances Be Unequal?
May 2016 · Read the column (PDF)
Equal treatment of children 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 family dynamics may demand a more thoughtful solution.
Do You Still Need an Irrevocable Trust for Life Insurance?
January 2016 · Read the column (PDF)
Should clients who are affluent, but not subject to federal estate tax, maintain an existing irrevocable trust in view of the current estate tax law, and what might the future estate tax law be?
Estate Planning for Family Business Owners
September 2015 · Read the column (PDF)
Aligning the division of a family business owner’s assets for estate planning purposes can be challenging. Reaching a solution may require patience and a practical sense that “the perfect is the enemy of the good.”
Does Your Client Need Asset Protection Planning?
May 2015 · Read the column (PDF)
An asset protection trust may be considered when a client is concerned about a future liability to a creditor that calls for protection beyond joint ownership or ownership of life insurance.
Hedging Techniques in Estate Planning
January 2015 · Read the column (PDF)
Understanding how to play the probabilities can allow a transaction to succeed, or at least avoid an untoward result. Hedging can permit strategies based on opposite premises to complement each other.
Planning for Disability with Marital Trusts
September 2014 · Read the column (PDF)
The General Power of Appointment Marital Trust, with a means of establishing whether a mental disability has occurred, can provide great flexibility in planning for both the near and far future.
Should Assets Stay in a Nonmarital Trust or Be Distributed to a Surviving Spouse?
May 2014 · Read the column (PDF)
Certain long-held assumptions may need close examination. In some cases it may be best to reconsider continuing a nonmarital trust, particularly if the remainder beneficiaries receive no estate tax benefit.
Estate Plans Reconsidered with New Tax Rates
January 2014 · Read the column (PDF)
When avoiding estate taxation was the primary objective, a trustee might not distribute income that was unlikely to be spent. Higher income tax rates may change that dynamic altogether.
Transfer Taxes Stay but Low Interest Rates May Go
September 2013 · Read the column (PDF)
This column spells out planning opportunities in a low-rate environment. Those now persuaded to act should put plans in motion sooner rather than later.
New Estate and Income Tax Rates May Change Perspective for Major Gifts
May 2013 · Read the column (PDF)
We can apply a formula to calculate the risk of failure versus the benefit of success for gifts. Two major variables influence the growth required to reach breakeven.
Welcome to 2013: Spousal Access Trusts Still Attractive for Business Owners
January 2013 · Read the column (PDF)
A Spousal Access Trust is an irrevocable trust established by a married grantor for the benefit of the grantor’s spouse, with the remainder passing to the couple’s children, and is usually structured as a grantor trust.
Defined Value Clause Offers Gift Tax Planning Certainty
September 2012 · Read the column (PDF)
Estate of Wandry v. Commissioner is the latest word from the Tax Court on defined value clauses, and offers a blueprint for clients to follow.
Disability Buyout Considerations
May 2012 · Read the column (PDF)
Buy-sell agreements typically address an owner’s death and lifetime “triggering events,” but not enough attention is paid to the prospect that an owner may become disabled.
Nontax Fundamentals in Trust Planning
January 2012 · Read the column (PDF)
We look at the selection of a trustee, a trustee’s exercise of discretion, and designation of a successor trustee for maximum flexibility.
Large Gift Tax Exemption Opens the Window for Gifts of Business Interests
September 2011 · Read the column (PDF)
The Tax Act of 2010 introduced a $5 million exemption for federal estate and gift tax purposes, offering a clear opportunity for owners of closely held businesses.
Estate Plans Need Flexibility in Current Tax Law Environment
May 2011 · Read the column (PDF)
Every change in the new tax law offers planning opportunities, loopholes, and potholes. Which planning techniques should be adopted or discarded?
Ensuring the Transfer of Insurance Proceeds in Buy-Sell Agreements
January 2011 · Read the column (PDF)
If a life insurance policy funding a buy-sell agreement will not be owned by the other shareholder, who should own it on behalf of the surviving shareholder?