Leimberg Weekly Digest: October 17-24, 2020

LISI WEEKLY DIGEST [Subscription Required]  Steve Leimberg's Estate Planning NewsletterOctober 20 -Alan Gassman & Wesley Dickson - When to Unplug Great Grandpa and Other Tax Strategies to ConsiderOctober 19 -Ed Morrow: How Donees Can Hit the Undo Button on Taxable GiftsSteve Leimberg's Employee Benefits and Retirement Planning NewsletterOctober 22 -Natalie Choate: PLRs 202031007 & 202039002 Illustrate … Continue reading Leimberg Weekly Digest: October 17-24, 2020

Forbes: IRS Announces Higher Estate And Gift Tax Limits For 2021 (October 26, 2020)

Forbes has published an article, "IRS Announces Higher Estate And Gift Tax Limits For 2021," which discusses the new estate and gift tax limits for 2021. The article begins as follows: The Internal Revenue Service announced today the official estate and gift tax limits for 2021: The estate and gift tax exemption is $11.7 million per individual, … Continue reading Forbes: IRS Announces Higher Estate And Gift Tax Limits For 2021 (October 26, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 19, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware, of Winstead PC, have made availablefor download their article, "Potential Estate Planning Implications of 2020 Election Results," published on Winstead's website. The article begins as follows: With the election less than a month away, there has been significant discussion regarding potential tax law … Continue reading John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 19, 2020)

Steve Akers: ACTEC 2020 Summer Meeting Musings (October 20, 2020)

Steve Akers has made available for download his ACTEC 2020 Summer Meeting Musings. The summary is as follows:The 2020 ACTEC Summer Meeting was held online, and seminars were June 21-25, 2020. A summary of my observations from seminars at the meeting are available on the link below.The topics covered include:Retirement and IRA distribution planning under … Continue reading Steve Akers: ACTEC 2020 Summer Meeting Musings (October 20, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 20, 2020)

John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware, of (Winstead PC), have made available for download their article, "Potential Estate Planning Implications of 2020 Election Results," published in JDSUPRA. The abstract is as follows: With the election less than a month away, there has been significant discussion regarding potential tax law … Continue reading John Bergner, Jeff Chadwick, Cheryl Cain Crabbe, Christine Wakeman, and Jordan Ware (Winstead PC): Potential Estate Planning Implications of 2020 Election Results (October 20, 2020)

Sharon L. Klein (Family Matter)- New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next (September 14, 2020)

Sharon L. Klein, President of Family Matter, has made available for download her article, New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next, published in the New York Law Journal Special Trusts & Estates section. The abstract is as follows: Learn about what passed and what didn’t in New York’s 2019- 2020 legislative session … Continue reading Sharon L. Klein (Family Matter)- New York’s Latest Legislative Session: What Passed, What Didn’t, What’s Next (September 14, 2020)

Proskauer Rose LLP: Personal Planning Strategies – October 2020 (October 7, 2020)

Nathaniel Birdsall, Mitchell Gaswirth, and others of Proskauer Rose LLP, have made available for download their article, "Personal Planning Strategies - October 2020," published in JDSUPRA. The abstract is as follows: If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before the end of the year, you undoubtedly … Continue reading Proskauer Rose LLP: Personal Planning Strategies – October 2020 (October 7, 2020)

Lauren Galbraith (Farella Braun + Martel LLP): Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions (September 29, 2020)

Lauren Galbraith, of Farella Braun + Martel LLP, has made available for download her article, Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions, published in JD Supra. The abstract is as follows: Due to annual inflation-indexing, the historically high lifetime exemption amount for gift, estate, and generation-skipping transfer … Continue reading Lauren Galbraith (Farella Braun + Martel LLP): Estate Tax Planning for Large Company Stock Holdings: Four Tips for Using Record-High Lifetime Exemptions (September 29, 2020)

Leimberg Weekly Digest: September 6 – 12, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's Estate Planning Newsletter·  September 8 -David Pratt & Jeff Baskies - The Time Has Come to Implement Painless Giving: How to Gift One or More Residences Prior to the End of the Year Without Feeling ItSteve Leimberg's Employee Benefits and Retirement Planning Newsletter·  September 10 -Mary Vandenack on Lee v. Argent … Continue reading Leimberg Weekly Digest: September 6 – 12, 2020

Florida Probate & Trust Litigation Blog: What’s the right way and the wrong way to deed property OUT of your revocable trust? (August 23, 2020)

Juan C. Antúnez, in his Florida Probate & Trust Litigation Blog, discusses what is the right way and the wrong way to deed property OUT of your revocable trust. His article begins as follows: Deeding property “into” and “out” of trusts is the kind of bread and butter work trusts and estates lawyers do all the time. But … Continue reading Florida Probate & Trust Litigation Blog: What’s the right way and the wrong way to deed property OUT of your revocable trust? (August 23, 2020)

Leimberg Weekly Digest: August 23 – 28, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's Estate Planning Newsletter·  August 27 -Steve Leimberg - Review of the 13TH Edition of Tools and Techniques of Financial Planning·  August 25 -Paul Hood: Exercising Swap Powers, Part 1Steve Leimberg's Business Entities Newsletter·  August 26 -Brandon Ketron, Alan Gassman & Kevin Cameron: SBA Releases New Interim Final Rules Placing Restrictions on Payments … Continue reading Leimberg Weekly Digest: August 23 – 28, 2020

Leimberg Weekly Digest: August 15 – 21, 2020

LISI WEEKLY DIGEST [Subscription Required] Steve Leimberg's International Tax Planning Newsletter·  August 20 -Steve Leimberg: Review of International Estate Planning 2nd Edition by Barbara Hauser and Melissa LangaSteve Leimberg's Estate Planning Newsletter·  August 18 -Sandra D. Glazier on US v. Sanmina Corporation - A Primer on the Attorney Client Privilege and Work Product Doctrine·  August 18 -7520 and Other … Continue reading Leimberg Weekly Digest: August 15 – 21, 2020

PLR202035010: Irrevocable Trust Qualifies as See Through Trust for IRAs

In PLR 202035010, the Service ruled that an irrevocable trust qualified as a see through trust regarding IRA distributions under Reg. §1.401(a)(9)-4, Q&A-5. In PLR 202035010, the decedent ("D") established two trusts, one revocable and one irrevocable trust. D named the revocable trust as the beneficiary of his two IRAs. The revocable trust named D's … Continue reading PLR202035010: Irrevocable Trust Qualifies as See Through Trust for IRAs

Steve R. Akers: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate Loans vs. Gifts (July 24, 2020)

Steve R. Akers, of Bessemer Trust, has published his summary of the Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate. The summary is as follows: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71, addresses whether advances made to a son with no loan agreements, security, or attempts to force repayment … Continue reading Steve R. Akers: Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 –Treatment of Advances as Legitimate Loans vs. Gifts (July 24, 2020)

Leimberg Weekly Digest: August 1-8, 2020

LISI WEEKLY DIGEST [Subscription Required]  Steve Leimberg's Estate Planning Newsletter·  August 7 -Steve Leimberg - Review of Planning for Ownership and Inheritance of Pension and IRA Accounts and Benefits in Trust or Otherwise After the Secure Act: The Estate Planner's IRA/Pension Planning Guide·  August 6 -Michael Geeraerts & Jim Magner on the Bolles and Kroner Cases - Is … Continue reading Leimberg Weekly Digest: August 1-8, 2020

Peter B. Allport & Nicole K. Mann (McDermott Will): Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts (August 4, 2020)

Peter B. Allport and Nicole K. Mann, of McDermott Will & Emery, have made available for download their article, Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts, published in McDermott Will & Emery blog page. The abstract is as follows: Recent decisions in California and Mississippi illustrate the divergence among … Continue reading Peter B. Allport & Nicole K. Mann (McDermott Will): Divergence Among States in Enforcement of In Terrorem Clauses in Wills And Trusts (August 4, 2020)

Steve R. Akers: ACTEC 2020 Annual Meeting Musings (July 20, 2020)

Steve R. Akers, of Bessemer Trust, has published his summary of the ACTEC 2020 Annual Meeting Musings. The summary is as follows: Various seminars at the ACTEC 2020 Annual Meeting are summarized. Topics include: litigation issues, DNA testing effects, SECURE Act, pre-mortem probate, UPMIFA, well-being for planners, unconscious bias, foreign person as trustee, transfer planning, … Continue reading Steve R. Akers: ACTEC 2020 Annual Meeting Musings (July 20, 2020)

Foley Lardner: Introduction to Family Offices (July 23, 2020)

Foley Lardner has published a succinct primer on Family Offices. It begins as follows: What is a Family Office? A “Family Office” is a wealth management entity created to provide investment and wealth management services tailored to the specific needs of a high net worth (HNW) individual or familyA Family Office can take on many … Continue reading Foley Lardner: Introduction to Family Offices (July 23, 2020)

Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say

Paul Sullivan's weekly New York Times Wealth Matters column focuses on the use of flowcharts and other visual aids in the context of estate planning. It begins as follows: As older adults face mortality during the pandemic, lawyers and wealth advisers are using color-coded documents and flowcharts to help them understand estate planning. To see … Continue reading Paul Sullivan, Wealth Matters, NY Times (July 24, 2020): Need Help With Your Estate Plan? Go With the Flow, Advisers Say