James Stewart: Beneficiary Designated Property- A Trap for the Unwary (July 19, 2021)

James Stewart of Pullman & Comley, LLC, has made available for download his article, “Beneficiary Designated Property: A Trap for the Unwary”, published in JDSUPRA. The abstract is as follows: Financial institutions and brokerage firms occasionally recommend that client accounts be structured as joint or beneficiary-designated accounts without full consideration of the impact on the … Continue reading James Stewart: Beneficiary Designated Property- A Trap for the Unwary (July 19, 2021)

Steve Akers: Heckerling Musings 2021 and Estate Planning Current Developments

Steve Akers has made available for download his summary of the 2021 Heckerling Program. The summary is as follows: A summary of observations from some of the sessions at the 55th Annual Heckerling Institute on Estate Planning held virtually May 3-6, 2021, as well as observations from other current developments, is available on the link … Continue reading Steve Akers: Heckerling Musings 2021 and Estate Planning Current Developments

David Riedel (Adler Pollock & Sheehan P.C.): Add Estate Planning Flexibility With Powers of Appointment (July 20, 2021)

David Riedel, of Adler Pollock & Sheehan P.C., has made available for download his article, “Add Estate Planning Flexibility With Powers of Appointment,” published in JDSUPRA. The abstract is as follows: The best laid plans can go awry. Consider the estate plan you may have carefully crafted by taking into account the needs of your … Continue reading David Riedel (Adler Pollock & Sheehan P.C.): Add Estate Planning Flexibility With Powers of Appointment (July 20, 2021)

TaxNotes – Margaret Ryznar: A Tax Credit for Wills (July 9, 2021)

Margaret Ryznar has published an article on the TaxNotes, titled “A Tax Credit for Wills,” The article begins as follows: The COVID-19 pandemic revealed certain problems in American society, including a systemic lack of estate planning, which Americans have a long history of neglecting. The reasons may vary. For example, many people — not expecting … Continue reading TaxNotes – Margaret Ryznar: A Tax Credit for Wills (July 9, 2021)

CJ Ryan: Paying for Law School: Law Student Loan Indebtedness and Career Choices (January 29, 2020)

CJ Ryan, of the University of Louisville, has made available for download his article, Paying for Law School: Law Student Loan Indebtedness and Career Choices, published in the University of Law School Legal Studies Paper. The abstract is as follows: Student loan debt has reached crisis levels, topping $1.64 trillion dollars this year and surpassing … Continue reading CJ Ryan: Paying for Law School: Law Student Loan Indebtedness and Career Choices (January 29, 2020)

TaxProf Blog – A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year (July 17, 2021)

Paul Caron has published an article on the TaxProf Blog, titled "A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year,” which discusses one of the first studies ever to look at donor-advised funds on a micro level and possible effects upon legislation. The article begins as follows: One of the first studies … Continue reading TaxProf Blog – A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year (July 17, 2021)

Adam J. Hirsch: Models of Electronic-Will Legislation (June 20, 2021)

Adam J. Hirsch, of the University of San Diego, has made available for download his article, Models of Electronic-Will Legislation, published in the Real Property, Trust and Estate Law Journal. The abstract is as follows: This Article examines alternative ways lawmakers could structure legislation validating electronic wills. The Article identifies four essential models, each of … Continue reading Adam J. Hirsch: Models of Electronic-Will Legislation (June 20, 2021)

Forbes: Buy Passport With Bitcoin, Escape Taxes? (July 14, 2021)

Forbes has published an article, “Buy Passport With Bitcoin, Escape Taxes?”, which discusses legal logistics of buying a passport from a tax-haven nation with bitcoin in order to try and avoid paying higher taxes. The article begins as follows: Have you ever considered living in a Caribbean tax haven, becoming a citizen, maybe even ditching … Continue reading Forbes: Buy Passport With Bitcoin, Escape Taxes? (July 14, 2021)

Deloitte: Family enterprises in the driver seat: Where are you headed? (July 20, 2021)

Deloitte is hosting a webinar to discuss wealth planning in the current environment. The summary is as follows: With the market for mergers and acquisitions (M&A) accelerating, owners and operators of family enterprises may face important decisions. What could the road ahead look like? Join us as we discuss wealth transfer planning, income tax planning, … Continue reading Deloitte: Family enterprises in the driver seat: Where are you headed? (July 20, 2021)

Andrew Biondi: The Tale of the Feuding Fiduciaries (July 14, 2021)

Andrew Biondi, of Sands Anderson PC, has made available for download his article, "The Tale of the Feuding Fiduciaries", published in JDSUPRA. The abstract is as follows: When two brothers appointed to serve as coexecutors of their mother’s estate can’t get along in fulfilling their jointly held duty, how does a Virginia court decide which … Continue reading Andrew Biondi: The Tale of the Feuding Fiduciaries (July 14, 2021)

NY Times (July 9, 2021): How to Manage Your Money if Inflation Flares

Mark Miller, in his New York Times article, discusses investing fundamentals to combat possible impacts of inflation. His article, “How to Manage Your Money if Inflation Flares,” begins as follows: In the end, inflation may not turn out to be a big problem.But it’s already being discussed enough by the Federal Reserve and a host of … Continue reading NY Times (July 9, 2021): How to Manage Your Money if Inflation Flares

TaxProf Blog – Paul Caron: WSJ: Older Americans Stockpiled A Record $35 Trillion. The Time Has Come To Give It Away (July 8, 2021)

Paul Caron has published an article on the TaxProf Blog, titled “WSJ: Older Americans Stockpiled A Record $35 Trillion. The Time Has Come To Give It Away”, which discusses the imminent transfer of wealth between generations as the older generation of Americans begins to divide their wealth among heirs and others. The article begins as … Continue reading TaxProf Blog – Paul Caron: WSJ: Older Americans Stockpiled A Record $35 Trillion. The Time Has Come To Give It Away (July 8, 2021)

Forbes: Sell Stocks Or Cash In An IRA? (July 4, 2021)

Forbes has published an article, "Sell Stocks Or Cash In An IRA?", which discusses which assets to liquidate when dealing with a tax-deferred IRA and a taxable brokerage account. The article begins as follows: You’re retired, and living off two piles of assets—a taxable brokerage account and a tax-deferred IRA. Which should be cashed in … Continue reading Forbes: Sell Stocks Or Cash In An IRA? (July 4, 2021)

Property or Financial Powers of Attorney

Prudent estate planning or a source of liability? By Paul Hood Property or financial powers of attorney (POAs) are ubiquitous in estate planning and with very good reason. The likelihood of becoming incapacitated prior to death is significantly greater than the risk of dying at any particular time.1 Therefore, the actuarial odds are that the … Continue reading Property or Financial Powers of Attorney

Northern Trust: Interstate Relocation Checklist (July 2021)

Northern Trust has published an article, "Interstate Relocation Checklist". The article begins as follows: Indeed, with work-from-home/work-from-anywhere dynamics evolving rapidly and state tax codes in flux, many who had not previously contemplated an interstate move are now considering the possibility.Whether one is motivated to move to a new state for personal/lifestyle, career or financial reasons, … Continue reading Northern Trust: Interstate Relocation Checklist (July 2021)

J.M. Coppieters: Trust Planning and the Washington State Capital Gains Tax (June 15, 2021)

J.M. Coppieters, of Scarff Law Firm PLLC, has made available for download his article, “Trust Planning and the Washington State Capital Gains Tax”, published in the Seattle University Law Review, forthcoming. The abstract is as follows: On April 25, 2021, the Washington State Legislature enacted a new state capital gains tax. Before now, Washington state … Continue reading J.M. Coppieters: Trust Planning and the Washington State Capital Gains Tax (June 15, 2021)

Forbes: The 4 Pitfalls Of ‘Designated Beneficiaries’ On Transfer On Death Investment Accounts (July 2, 2021)

Forbes has published an article, "The 4 Pitfalls Of ‘Designated Beneficiaries’ On Transfer On Death Investment Accounts", which discusses issues that may arise when using a Transfer on Death (TOD) account titling. The article begins as follows: When you set up an account to "transfer on death," the assets will go directly to beneficiaries upon … Continue reading Forbes: The 4 Pitfalls Of ‘Designated Beneficiaries’ On Transfer On Death Investment Accounts (July 2, 2021)

Bloomberg Wealth: Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes (June 28, 2021)

Allyson Versprille and Ben Steverman of Bloomberg Wealth has made available for download their article, “Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes,” which discusses provisions in the U.S. Treasury's "Green Book" that aim at closing loopholes utilized by the wealthiest Americans to legally avoid taxes. The article begins as follows:  An unpleasant surprise … Continue reading Bloomberg Wealth: Biden Wants to Dismantle Two Weapons the Richest 0.1% Use to Avoid Taxes (June 28, 2021)

IRS Updates Concept Unit on Allocation Methods of Personal Use of Aircraft (June 21, 2021)

The IRS has updated its concept unit on Allocation Methods of Personal Use of Aircraft. The overview is as follows: Taxpayers who use their own aircraft for both business and personal flights must allocate expenses to each category. Personal flight expenses are further allocated between personal entertainment flights and personal non-entertainment flights but making that … Continue reading IRS Updates Concept Unit on Allocation Methods of Personal Use of Aircraft (June 21, 2021)

Andrew Hayashi: Stewardship and the Estate Tax (June 2, 2021)

Andrew Hayashi, of University of Virginia School of Law, has made available his article, "Stewardship and the Estate Tax," published in Canopy Forum. The abstract begins as follows: Estate taxes interfere with the transfer of private property at death, raising questions about stewardship, property and power, what we owe our children, and the meaning of … Continue reading Andrew Hayashi: Stewardship and the Estate Tax (June 2, 2021)