Steve Akers Heckerling Musings 2019 and Other Current Developments

Steve Akers, Bessemer Trust’s Senior Fiduciary Counsel, has published his musings from January’s Heckerling seminar and other observations about various current developments in estate planning.

The abstract is as follows:

Observations from the 53rd Annual Philip E. Heckerling Institute on Estate Planning held in Orlando during the week of January 14, 2019, as well as other current developments, are summarized.

Some of the topics include:

  • Developments regarding limits on the state income taxation of trusts
  • Proposed regulations regarding the Section 199A qualified business income deduction and the Section 643(f) multiple trust rules
  • Another speedbump for domestic asset protection trusts
  • The proposed “anti-clawback” regulations
  • Crunch time for intergenerational split-dollar arrangements (Cahill, Morrissette)
  • State taxation of QTIP trusts at the surviving spouse’s death
  • Travails of family limited partnerships
  • Inclusion of the value of GRAT assets in the gross estate
  • Trust flexibility versus “dead hand” control
  • Spotlight on trust beneficiaries’ rights to be informed

Download full report at Bessemer Trust.

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