Disclaimer Planning

Credit-Shelter Trusts (sometimes called “Bypass Trusts”) are a common feature in married estate plans when estate taxation is a concern.  While we cover credit-shelter trusts in our practice system training, most clients don’t need them,…

Year-end tax planning for 2022 is different from prior years. Practitioners might recommend traditional annual gift planning but for some (perhaps many) clients, annual gifts may not be worthwhile.

This month’s subscriber drafting webinar will focus on estate tax planning in states that have a separate state estate tax system with a state exemption that is lower than the federal exemption.  In that situation, there is an added layer…

Between a simpler estate plan that benefits the spouse and a more complicated bypass trust plan designed to reduce estate taxes. For many clients, the high federal estate tax exemption means their estate will not be subject to tax, but if…

With the amount of the federal estate tax exemption likely to drop to a lower, but as yet unknown, amount, more clients may be subject to estate taxation. This may mean that a bypass trust is the best plan for more clients, but when the…

Given the current economy and the uncertainty of today’s political climate, many in the estate planning field have their eyes on Washington, D.C., looking to see if dramatic changes to the current transfer tax structure could be imminent.…

Estate tax planning is currently on the back burner for most estate planners, because it’s not a concern for the vast majority of our clients. However, with the upcoming election and a dramatic new need for revenue, the estate tax exemption…

This article discusses the "special power of appointment trust," designed to provide asset protection while providing a means for the grantor to benefit from the trust property, should the need arise.

In many estates, the effective and creative use of disclaimers can be the most beneficial postmortem tax planning technique. Indeed, one court has held that failure to advise a client of her right to disclaim assets may constitute…