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Trusts Protectors: A Concept Whose Time Has Come

November 07, 2016

In the evolution over the last 50 to 60 years of trusts in a variety of contexts including offshore trusts, a new concept has surfaced which is now being more broadly applied in the context of estate and asset protection planning. The concept is...

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Special Needs Trust: The Importance of Getting it Right

November 03, 2016

It is commonplace today that most families either have knowledge of or may even have a family member who is a special needs individual. Special needs individuals, whether by virtue of a physical disability or mental disability, are often entitled...

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Family Conflict Among Siblings and Cousins: Clarity is Key

October 19, 2016

In the current financial times in which we live, where often times the structure of the family is complex, it has become increasingly prevalent that siblings or half-siblings and on some occasions, cousins will get into significant conflicts...

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Interfamily Notes and Refinancing

September 12, 2016

An often overlooked technique when it comes to family planning is the interfamily loan. For a number of years, the primary focus with respect to transfers between family members was the potential tax for gift and estate tax purposes which could be...

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Specialized Trust Planning, Income Taxes, and Asset Protection

June 08, 2016

Over the last several years, we have seen a significant, perhaps even a sea-, change in the estate planning environment. For many years, practitioners were focused on transfer taxes as the tax rates were high and the exemptions were low. Then,...

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Back to Fundamentals in Estate Planning: A Long Term Perspective

March 11, 2015

It has always been the case that one size does not fit all when it comes to estate planning. However, recent changes emphasize why we cannot simply use the standard plan from years past, and expect that we will achieve optimal and appropriate...

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Foreign Bank Account Reporting: The Dragon has Teeth

April 16, 2014

A little known and sometimes extremely troublesome reporting requirement exists for United States persons who own foreign bank accounts in various countries around the world. To the extent that such accounts exceed the aggregate value of...

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Income Tax Planning Using Estate Planning Techniques

April 16, 2014

Over the last several years, we have seen a substantial evolution in the transfer tax arena here in the United States. As a result of several favorable legislative changes, it has become the case that only for a very small and rarified layer of...

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Estate Plans are Not Goods

October 01, 2013

Every person is unique and so must be their estate plan. With the availability of estate planning documents on the web, the preparation of an estate plan has become akin to purchasing a good. The preparation of an estate plan is not simply...

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Fiduciary Duties During Administration of Trusts and Estates

September 30, 2013

You have been appointed executor of an estate or trustee of a trust. You want to do your best for the beneficiaries but you have another major concern as well: avoiding being sued for the way you carry out your duties. Acting as fiduciary is a...

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