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  • January – December 2022

    Care and Feeding of your Irrevocable Trusts

     

    Checklist: Power

     

    Recent Developments: 

    • Valuation adjustment mechanism considerations
    • Nelson v. Commissioner
    • Daniel R. Baty v. Comm’r, Docket No. 12216-21

     

    Planning Potpourri:

    • Formula Defined Value Transfers
    • Beneficiary Designations
    • How Might that Gift/Inheritance Affect your Kids/Heirs
    • Secure Original Documents
    • Revocable Trust

    Care and Feeding of your Irrevocable Trusts

    • Since 2012 and the threat of a reduced gift, estate and GST exemption, and especially during 2020-2022 when there were also concerns over harsh estate tax proposals, many taxpayers created irrevocable trusts and transferred substantial assets to those trusts. Many wealthy people create trusts to protect assets from claimants. Proper administration of those trusts is essential for those trusts to have any potential of achieving your goals.
    Read more »
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