Estate planning

A Few Select Insights from the 2019 Heckerling Institute on Estate Planning.

Topics: Estate planning, Estate tax, GST, Nongrantor trusts, Trusts

The WRMarketplace is created exclusively for AALU members by experts at Baker Hostetler LLP and the AALU staff, led by Jonathan M. Forster, Partner, Rebecca S. Manicone, Partner, and Carmela T. Montesano, Partner. WR Marketplace #19-05 was written by Edward J. Beckwith, Partner, and Jennifer M. Smith, Counsel, Baker Hostetler LLP. The AALU WR Newswire…

Shifting Gears? Rising Rates and Legacy Planning.

Topics: Charitable giving, Charitable remainder trust, Estate planning

The WRMarketplace is created exclusively for AALU members by experts at Baker Hostetler LLP and the AALU staff, led by Jonathan M. Forster, Partner, Rebecca S. Manicone, Partner, and Carmela T. Montesano, Partner. WR Marketplace #19-03 was written by Edward J. Beckwith, Partner, and Jennifer M. Smith, Counsel, Baker Hostetler LLP. The AALU WR Newswire…

What You Need to Read

Topics: Estate planning, Estate tax, IRS, Regulation, Retirement security, Tax reform

January 31, 2019 Wealth Transfer The Heckerling Institute on Estate Planning: How the 2017 Tax Act Changed the Tax Consequences of Marriage and Divorce Thomas Tietz shares his detailed notes from Carlyn McCaffrey’s comprehensive presentation on the consequences of the TCJA for marriage and divorce at this year’s Heckerling conference. Read More Top Ten Estate…

Introducing Pulse, by AALU

Topics: 162(m), Estate planning, IRS, Qualified Plans, Regulation

Welcome Members! We are excited to introduce Pulse, AALU’s new e-newsletter. Curated by AALU, with input from the best and brightest in our membership, Pulse aims to save you time while keeping you on top of the most significant developments. We welcome and appreciate your feedback on this, as we look to continue to evolve…

Generational Split Dollar (GSD): Where Are We Now?

Topics: Estate planning, Split-dollar, Trusts

Economic benefit (“EB”) GSDs involve a split-dollar arrangement between a parent and his life insurance trust to fund the trust’s purchase of life insurance on the parent’s child. For wealth transfer planning purposes, EB GSDs assume that the present value of the repayment owed to the parent for premium payments is subject to a significant…

Protecting Your Charitable Deduction – The IRS Issues Final Guidance.

Topics: Charitable giving, Estate planning, Trusts

To support and encourage charitable giving, the Internal Revenue Code (“Code”) provides an income tax deduction for contributions to qualified charities. After the Tax Cuts and Jobs Act of 2017 (“Tax Act”), this is one of the only substantial deductions left to wealthier taxpayers. However, the substantiation rules for claiming this income tax deduction are…

Outlook Not So Good:  Tax Court Speaks to Possible Estate Tax Treatment of Generational Split Dollar (GSD).

Topics: Estate planning, Irrevocable trusts, Split-dollar, Trusts

For the first time, two very recent Tax Court opinions (Est. of Cahill v. Commissioner and Est. of Morrissette v. Commissioner) have discussed the court’s view of the estate taxation of economic benefit GSDs. These arrangements generally involve a parent who enters into a private split-dollar agreement with a life insurance trust agreeing to pay…

Flipping the Script: Nongrantor Trusts with Grantor Trust Benefits – Can It Be Done?

Topics: Estate planning, Grantor trusts, Non-grantor trusts, Trusts

Grantor trusts, which tax the trust’s income to the trust creator (“donor”), have long been a planning mainstay, as they can enhance growth in the trust and offer significant flexibility in transactional planning with the donor. As discussed in WRMarketplace No. 18-03, however, new limits on tax deductions, including for state and local taxes, may…

A View from the Experts: Select Insights from the 2018 Heckerling Institute on Estate Planning

Topics: Estate planning, Transfer taxes

Presenters at the 2018 Heckerling Institute on Estate Planning identified several enhanced areas of focus for legacy and life insurance planning post tax-reform, including (1) basis adjustment planning, (2) the potential benefits and pitfalls of portability, especially in light of the doubled federal transfer tax exemptions, and (3) the need to review and refresh existing…