Estate Planning Course Materials Journal
American Law Institute CLE

Fiduciary and personal interests occasionally conflict in the investment or management of trust property. Transactions which are “affected by a conflict” are generally voidable by an affected beneficiary.

June 1, 2017
Trusts and Estates

Today, the estate planner needs to master two new protocols that didn’t exist three decades ago, when I started my law practice.

July 25, 2016
Journal of Passthrough Entities
CCH Research and Learning

The American Taxpayer Relief Act of 2012 (the “2012 Act”), a relatively quiet tax bill with few changes, has had major impacts on our practice as
estate planners.

July 20, 2016
Trusts and Estates Magazine

In order to review Beyer and Dacus’ article that advises estate planners on how to advise cannabis users and growers, I had to first stoke up a joint, to get in the proper mood. Actually, I didn’t.  The article advises that if I did use marijuana, dire consequences could occur, “emotional disturbances, the total inability to direct thoughts, the loss of all power to resist physical emotions,” and a few other bad things, like temporary memory loss. 

June 30, 2016
Trusts and Estates Magazine

The 2013 Tax Act, subtlety emerging into our estate planning life much the same way the IPhone has subtlety reduced our available free time, has had major impacts on our practice as estate planners.

June 1, 2016
Estate Planning for Retirement Benefits
Illinois Institute for Continuing Learning Education

An overview of the rights of the spouse of a participant in a qualified retirement plan, the obligations of the qualified retirement plan with respect to the spouse, and the treatment of domestic partners with respect to retirement plan benefits under current law.

September 10, 2015
Journal of Passthrough Entities

As estate planners, we often focus on our role as strategists, planners that set up a workable estate plan. Examples include establishing a family limited partnership to achieve estate tax discounts, or creation of one or more trusts for estate tax reduction, or establishment of a trust for creditor or spousal protection.

Journal of Passthrough Entities

In one of its most important valuation decisions since the 1981 valuation opinion in MF Bright Est., the Fifth Circuit in J.A. Elkins Est., addressed the issue of whether a partial interest in artwork is entitled to a discount, and at what level.

Practical Tax Strategies

There are numerous elections that fiduciaries can make on estate and trust federal income tax returns to help maximize tax efficiency for the entity and its beneficiaries. One such election is the Section 643(e)(3) election, which permits a fiduciary to treat the distribution of in-kind property as having been sold by the entity to the beneficiaries at fair market value (FMV), thereby triggering potential gain, among other consequences.