Wealth Strategies Estate Planning Commentary Weekly Update (April 23, 2023)

Table of Contents

  • SSRN
  • Talking Heads
  • Practitioner Journals
  • Law Reviews
  • Law Firm and Similar Newsletters
  • Lay Person News


Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs? By Erica Xuewei Jiang, Gregor Matvos, Tomasz Piskorski, and Amit Seru

Jiang, Matvos, Piskorski, and Seru attribute U.S. bank asset exposures to a recent rise in interest rates, citing how uninsured leverage can lead to banks in the U.S. becoming insolvent and how a bank’s survival depends on the market beliefs about the share of uninsured depositors who will withdraw money following a decline in the market value of bank assets.

GPT-4 Passes the Bar Exam By Daniel Martin Katz, Michael James Bommarito, Shang Gao, and Pablo Arredando

Katz, Bommarito, Gao, and Arredando experimentally evaluate the zero-shot performance of a preliminary version of GPT-4 against prior generations of GPT to illustrate the potential for such models to support the delivery of legal services in society.

Talking Heads 

Analysis of the Biden Administration’s Fiscal Year 2024 Revenue Proposals By Jonathan G. Blattmachr, Joy Matak, and Martin M. Shenkman

Blattmachr, Matak, and Shenkman provide their analysis of the Biden Administration’s Fiscal Year 2024 Revenue Proposals.

Banking Sector Challenges, Persistent Technological Trends By Holly H. MacDonald

MacDonald examines Bessemer Trust’s market outlook, macroeconomic views, and portfolio positioning with a focus on emerging trends and opportunities in the area of artificial intelligence as part of the company’s Quarterly Investment Perspective.

Law Reviews

Why isn’t a will that’s valid in Louisiana also valid in Florida? By Juan C. Antúnez

Antúnez analyzes why non-Florida wills and trusts fail to comply with the state’s exacting execution formalities and explains why the law prohibiting their standing does not need to be the way that it is.

Law Firm and Similar Newsletters

Respecting the Trust: a lesson on how a trust should, and should not, be operated By Nicolette Lee, Edmund Leow, and Ling Yi Quek

Lee, Leow, and Quek utilize a Singapore High Court case to demonstrate why asset protection purposes have shaken confidence in the usage of trusts and how a genuine trust should be operated to prevent a “pierce-through” situation.

SECURE 2.0 May Affect Your Retirement and Estate Plans By Kristin Matsko, David Riedel, and Kathryn Windsor

Matsko, Riedel, and Windsor unpack the Enhancing American Retirement Now Act (SECURE 2.0) to explain how the updated legislation affects catch-up distributions, qualified charitable distributions, and hardship distributions.

Remember the Remainderman: Rights and Responsibilities of a “Life Tenant” in Washington State By Harman Bual

Bual explains what it means to be a life tenant in Washington state and outlines the rights and responsibilities they hold.

Lay Person News

Save for a Down Payment and Retirement, All at Once? It’s Tricky. By Lisa Rabasca Roepe

Roepe describes the challenges for renters and first-time home buyers in affording a down payment and how the goal of homeownership is feeling less attainable as concerns regarding retirement savings become salient.

How to ease your kids into estate planning By Elizabeth Ayoola

Ayoola gives advice to parents on the importance of running their children through their estate plan, explaining the importance of their own estate plan, and keeping it simple.

Considerations For Financial and Estate Planning Professionals Who Work With Blended Families By Jim Farmer

Farmer identifies the complexities of handling estate plans for blended families and gives advisors who handle such plans several estate planning options to help ensure the outcome is as they intended.

Eight Types of Trusts for Owners of High-Net-Worth Estates By Jeffrey M. Verdon

Verdon outlines the various trusts high-net-worth individuals should exercise in their estate plans as a means to protect their assets, minimize tax liabilities, and pass their legacy forward.

Posted by Aryaman Sharma, Associate Editor, Wealth Strategies Journal

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