Entries tagged with “”

By: Jennifer Villier, JD | Business Law Faculty, WealthCounsel Are your small business clients ready for Employer Shared Responsibility? The Affordable Care Act introduced new responsibilities for small business owners...

By: Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel Digital Asset Protection is a growing concern due to the prevalence of web-based account management, email, social media, and...

By: Scott R. Zucker, Esq. The majority of people now find information online. While younger adults utilize the internet more frequently, they also use it to help look out for...

By: Christopher J. Berry, JD, VA Accredited, Certified Elder Law Attorney (CELA)In the fall semester of 2013 I taught an elder law class at Thomas Cooley Law School. As part...

In November 2007, WealthCounsel launched a groundbreaking initiative designed to gauge the pulse of estate planning activities throughout the country, to identify the challenges facing today's practitioners, and to obtain...

In November 2008, WealthCounsel launched its second annual nationwide survey of estate planning attorneys. Developed in 2007 to monitor the challenges facing today’s practitioners and to maintain a pulse on...

The 2009 Industry Trends Survey provided unique insight into the challenges facing today's estate planning attorneys – including the impact of the recent economic downturn on their practices. The report...

The nationwide survey's detailed findings include opinions on the estate tax, business growth in 2010, client motivation and generating new business, practice profiles, and key challenges facing attorneys. Learn more...

This year’s survey had a broader focus, inviting participation from all professionals involved in estate planning and wealth management. More importantly, the survey probed into the mindset of clients as...

Results from the 6th Annual Industry Trends Survey drew nearly 1,500 respondents comprised primarily of practicing attorneys (61%) and financial planners (27%). Remaining respondents included bank trust officers, CPAs, and...

This has been a dynamic year for estate planners, and the 7th Annual Industry Trends Survey illustrates the areas with challenges for this vital industry. The survey addresses changes from...

By Jennifer L. Villier, JD | Product Manager, WealthCounsel Series limited liability companies (LLCs) have been called the next generation of pass-through entities, gaining in popularity and use as states...

Estate Planning Awareness Week, October 21-27, 2019, is just around the corner. With a reported 60% of all adults not having an estate plan, now is the perfect time to...

To err may be human, but clients can be less than forgiving when it comes to costly errors with their money and unfulfilled charitable giving goals. Awareness is key—take every...

Lawyers pride themselves on their ability to write and speak… and for good reason. To run a successful practice, you need to communicate sophisticated ideas clearly. Connecting with people is...

Whether you are a fresh-faced law school graduate or a transitioning attorney, there are many challenges to grapple with as a newcomer to trusts and estates law. Building a successful...

This past tax year has been one for the books. The Tax Cuts and Jobs Act (TCJA) has brought about sweeping tax reform, the likes of which we’ve not seen...

Dealing with stressful clients and pulling overnighters to get work done are often part and parcel of an attorney’s job. However, navigating those heavy workloads and demanding schedules can take...

With its many variables, estate planning can be fraught with potential ethical pitfalls and malpractice issues.Read our Insight Brief, “5 Ways to Prevent Ethical Pitfalls in Your Estate Planning Practice”...

In this article, Ross shares his expertise in the use of the Charitable Bargain Sale as a means of helping donors accomplish their personal and philanthropic goals while benefitting land...

This article provides valuable insight into the unique planning needs of women. Sander provides relevant strategies in addressing the needs of married, single, and previously married female clients. Sander notes...

By: Professor Denis Kleinfeld, Esq.A discussion, albeit in brief form, of a narrow issue on the application of the ethical rules on a lawyer providing services in circumstances where the...

Business planning and estate planning often go hand in hand. Businesses started by parents are frequently passed down to their children, and in the absence of adequate forethought, the new...

by Jeramie J. Fortenberry, JD, LLM, and Jennifer L. Villier, JD WealthCounsel, Legal Education Faculty On April 26, 2017, President Donald Trump released a one-page memo that outlined his latest...

by Steven R. Schneider and Brian J. O'Connor No tax advisor wants to have to tell his or her clients that they owe a tax without receiving a corresponding amount...

By Jeffrey R. Matsen, Esq. & Jonathan A. Mintz, Esq.Asset protection planning has been practiced by attorneys, financial planners and accountants for several decades. Business persons have always had concerns...

by Jeremiah H. Barlow, JD | WealthCounselWhen working with clients who have special needs beneficiaries, it is important to understand how their financial and medical benefits work and how to...

Gear up your practice to take advantage of what increasingly appears to be a $1 million federal estate tax exemption in 2011. And with these tax exemptions comes many opportunities...

The “sunset” of EGTRRA in 2011 presents many challenges as well as opportunities for the estate planning attorney. In 2010, the suspension of both the estate tax and the carry...

By: Charlie Douglas, JD, CFP®, AEPWith such limited visibility and more planning vehicles under attack, like the President’s newly proposed plan to apply a transfer tax to Grantor Trusts, prudent...

Persuasion is a skill that can be learned and then must be honed. Researcher/author Kevin Dutton says that the key persuasive factors can be summarized by the acronym “SPICE.” To...

by Eileen Kerlin Walsh, JD | Kerlin Walsh LawEstate planning is a deeply personal business. As attorneys, we often hear more than we might want to in terms of complex...

By: Ruth Ryan-Cruz, Esq.Take this opportunity to revamp your checklist and include the suggested points to provide your clients with estate plan tune-ups; keep yourself and your clients in control...

As the estate tax exemptions have increase, with the possibility of new legislation liberalizing Medicaid benefits, and the unprecedented number of bankruptcy filings, asset protection should take a new and...

Estate planners have a host of legal tools and planning strategies to choose from when it comes to helping clients avoid the pains of probate. However, there are pros and...

by Patrick H. Murphy, JD, LLM (Taxation) The current state of the law has made the capital gains tax the new “estate tax” that should be on everyone’s radar. It...

By: Mark Powers and Shawn McNalis, Atticus, Inc.What can a mouse teach us about personal presentation? As it turns out, quite a lot. Visit any Disney property throughout the world...

By Whitney L. Sorrell, JD, CPA, MBA | Contributing Guest Writer, Sorrell Law Firm, PLCDecanting is an increasingly popular way to add flexibility to irrevocable trusts (IRT). It's also a...

by C. Dennis Brislawn, Jr., JD While gun rights continues to be one of the more controversial - and emotional - topics in our society, it's a fact that millions...

Providing solutions beyond what is legal or practical is another way that comprehensive attorneys can provide unmatched value, superior service, and true peace of mind to our clients.To learn one...

By: George G. Cassiere, ASA, CFA and Brian A. Eagle, J.D.In the January 2011 WealthCounsel Quarterly, Volume 5, Number 1, we introduced the concept of using an Employee Stock Ownership...

by Jeramie Fortenberry, JD, LLM (Taxation) | Executive Editor, WealthCounselOn August 4, 2016, the Treasury Department issued Proposed Regulations on valuation discounts for family-owned businesses under §2704 of the Internal...

by Jennifer Villier, JD | Business Law Faculty, WealthCounsel“Big Ag” versus the Family FarmRecent legislative changes in North Dakota permitted corporate dairy and swine farms to operate there for the...

The French writer and poet, Antoine de Saint Exupéry stated, “You do not inherit the earth from your ancestors: you borrow it from your children.” We should consider that you...

Peterson points out in her article that there are currently more than 9.2 million veterans aged 65 or older living in the United States. Many of these veterans lack the...

Perhaps you’ve had a good year, but not a great year. You may have experienced one or more of the following: Gross revenue is up, but net profits are down...

By: Mark Powers and Shawn McNalis, Atticus, Inc.What makes marketing so unpredictable? Many variables come in to play: the level of relationship you have with the referral source, their access...

By: Brenda Geiger, J.D.When leaving property to a minor or adult child, clients can choose exactly how they want to leave it to them. The property can be left outright...

By Jeremiah Barlow, JDExpanding theories of liability and rising threats of litigation make asset protection more valuable and more demanded than ever. Today’s victim-oriented climate fuels plaintiff attorneys' hunger for...

By Thomas J. Ray, Jr., Esq, Wealth Docx Executive Editor In fall 2014, the Asset Protection Advisory Group— which includes Jeff Matsen, who is featured in this issue—met to review...

Mahathey and Milhauser note that many business owners devote much time and energy to “working in” their business to improve business operations and profitability; however they often neglect to “work...

By: Steven J. Oshins, Esq., AEP (Distinguished)Asset protection has become a necessary part of every estate planner’s practice. As we see case law develop, it seems that every time a...

The proliferation of plaintiff lawsuits and the expanding concept of liability that has become second nature in our court system have engendered much concern and anxiety about the preservation of...

The proliferation of plaintiff lawsuits and the expanding concept of liability that has become second nature in our court system have engendered much concern and anxiety about the preservation of...

by Laura J. Koupal, JD | Koupal Law FirmIn addition to the complexity of divorce, remarriage, blended families and same-sex unions, estate planners have yet another “tricky issue” to address...

Bailey explains incentives that her firm uses to encourage associate attorneys to focus on production, marketing and sales in order to meet the firm’s business objectives. Bailey notes that the...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel The strict privity rule has long protected estate planning attorneys from lawsuits brought against them by disappointed beneficiaries. While some...

By: Joseph J. Strazzeri, Esq. and Stephen J. Mancini, Esq.With attention to process, dedication to deeper counseling, consistency of approach, and reverence for partnering with clients and other advisors, we...

by Jennifer Villier, JD | Business Law Faculty, WealthCounselA recent case out of the 7th Circuit Court of Appeals—Samaron Corp. v. United of Omaha Life Insurance Company—once again illustrates the...

by John Cunningham, JDIRS filing statistics suggest that 25% of all LLCs are two-member LLCs. This combined with the fact that operating agreements for these LLCs typically provide equal voting...

C corporations are often an excellent but overlooked entity choice in estate planning. With the passage of the Tax Cuts and Jobs Act, the new C corps tax rate is...

By: Randy Gardner, J.D., LL.M., CPA, CFP®, Matthew T. McClintock, J.D., Leslie Daff, J.D., MBA®, Julie Welch, MSA, CPA, CFP®Selecting the right trustee is essential for a successful plan. Our...

By: Steven J. Oshins, Esq., AEP (Distinguished)While many estate planning practitioners have made use of these Dynasty Trust states, there are still many who have not yet expanded their practices...

By: Brenda Geiger, Managing Attorney, Geiger Law Office, P.C.There are many ways that an estate planning professional can stand out in the crowd. However, there are few ways to better...

by Matthew T. McClintock, JD | Vice President - Education, WealthCounselAs we continue to dig deeper into trust decanting, there are some tax considerations that every estate planner be...

One of the most important services a firm can provide in any updating program is to actually update or track the assets that will be passed on death. Most discussions...

by Bernstein Wealth Management Research ReportsA significant new research project for international T&E practitioners, looking at US and Foreign trusts and their relative merits for global families with US beneficiaries...

by Thomas M. Fafinski, JD | Virtus Law, PLLC A client’s decision to retain you is often overwhelming. Are you the best person for the role as their business counselor...

by Thomas M. Fafinski, JD | Virtus Law, PLLC A client’s decision to retain you is often overwhelming. Are you the best person for the role as their business counselor...

LETTER OF INTENT (ASSET AND STOCK SALE)The documentation for a stock or asset purchase/sale transaction should begin with a letter of intent between the parties. The letter highlights big-picture items...

The bill of sale and assignment accompanies a sale/purchase transaction to demonstrate clear transfer of interests from the seller to the buyer. Like an ancillary document in entity formation, the...

EQUIPMENT LEASEAn equipment lease can allow your business clients to pay reasonable business expenses into another entity that owns equipment used in the ongoing operations of the business. This is...

32 Questions To Ask If You Own A Family BusinessWhat is business succession planning? Business succession planning refers to the practice of using estate planning strategies to increase the chances...

For many, this assembly is the cornerstone of the exit and succession module within BusinessDocx. The buy-sell agreement interview and assembly contains the most sophisticated and comprehensive sets of options...

CHOICE OF ENTITY DECISION GUIDE (TAX CONSIDERATIONS)This guide helps you spot important tax-related issues and guide the client conversation to determine what type of tax treatment makes the most sense...

COVER LETTER TO CLIENT ENCLOSING FORMATION DOCUMENTSThis important letter informs your client of various documents you have prepared for the formation of their new business. It discusses next steps for...

In many business acquisitions it’s necessary for the acquiring business to engage one or more consultants beyond your law firm as they gather information to make informed decisions. This consulting...

MODEL FORMATION DOCUMENT (ARTICLES OF INCORPORATION)More robust than statutory articles, the Model Articles of Incorporation include options for various capitalization approaches to provide for multiple classes of common or preferred...

EMPLOYEES AND INDEPENDENT CONTRACTORSINDEPENDENT CONTRACTOR AGREEMENTFew issues get companies in trouble faster with the IRS than improperly structuring relationships with independent contractors. We have provided a model independent contractor agreement...

STATUTORY CONVERSION FORM LOCATOR MATRIXMost states have statutory form documents necessary to convert an existing company from one entity form to another (e.g., converting a statutory corporation to an LLC)...

BUSINESS ENTITY FORMATION FORM LOCATOR MATRIXA comprehensive list of links to all state agencies so that you can easily locate the forms you may need in creating a business for...

TRANSMUTATION AGREEMENTFor clients in community property states (or who have property that was acquired in a community property state) this agreement converts (“transmutes”) property from community property to separate property...

IRS PUBLICATION 15A – EMPLOYER’S SUPPLEMENTAL TAX GUIDEThis publication supplements IRS Publication 15 (Circular E) and contains detailed employment tax information. FORM SS-4 – APPLICATION FOR EMPLOYER IDENTIFICATION NUMBERThis form...

MODEL FORMATION DOCUMENT (ARTICLES OF ORGANIZATION)This LLC formation document, which closely parallels articles of incorporation needed for legal formation and recognition of corporations, is required to be filed with an...

Exit and SuccessionMEMBERSHIP/PARTNERSHIP INTEREST PURCHASE AGREEMENTThis Agreement helps you serve clients through the acquisition of a partnership or LLC membership interest.

MINUTES/STATEMENT OF ACTIONSThese documents memorialize major decisions made by corporate directors, LLC managers, or a general partner during the annual cycle of a business. CONSENT/ACKNOWLEDGEMENT OF ACTIONSThese documents memorialize the...

A close cousin to the unilateral NDA, the bilateral NDA is simply a mutual promise not to disclose information. The bilateral NDA is commonly used during negotiations among businesses or...

A unilateral NDA is often appropriate when a business hires a consultant or another service provider and will have access to trade secrets or other confidential and essential business information...

CERTIFICATE OF LIMITED PARTNERSHIPThis is considered the formation document for a partnership and is filed with the applicable state agency. LIMITED PARTNERSHIP AGREEMENTThis Agreement details the relationship between the business...

The secured promissory note is another essential piece of the documentation for a purchase when the buyer borrows money for the transaction. This may occur as a transaction between individuals...

LETTER OF INTENT (ASSET AND STOCK SALE)The documentation for a stock or asset purchase/sale agreement should begin with a letter of intent between the parties. The letter highlights big-picture items...

By: Brenda Geiger, J.D.There are a few key reasons for doing exit planning. The first of which is to provide liquidity for the owners of the business. Another important reason...

by Jeramie J. Fortenberry, JD, LLM and Andreea Olteanu, JD On November 16, 2017, the House of Representatives passed their version of a tax reform bill: The Tax Cuts...

We are excited about BusinessDocx because we think that business planning is closely linked to your existing estate planning practice and we are convinced that it can be a significant...

By Steven B. Gorin, JD | Thompson Coburn LLPThe Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”) was enacted on December 15, 2015. Extensive legislation, the...

In the right situation, an Employee Stock Ownership Plan (“ESOP”) can be an effective business succession planning tool for helping owners of closely-held businesses successfully exit the business while preserving...

by WealthCounsel StaffLooking at the tax priorities of President-elect Donald Trump and Republican leadership in Congress, there’s a good chance the federal estate tax will be repealed soon. While that...

by WealthCounsel Education StaffMany scholars believe there’s a good chance the federal estate tax will be repealed soon based on the tax priorities of President-elect Donald Trump and Republican leadership...

by WealthCounsel StaffAs mentioned in previous posts, there’s a good chance the federal estate tax will be repealed as part of a comprehensive tax overhaul based on the tax priorities...

by Greg Singer, Director of Research, Wealth Management Group and Vincent Childers, Research Analyst, Wealth Management Group Bernstein Wealth Management Research Reports Capital gains taxes are scheduled to rise from...

by Brian J. O'Conner, JD, LLM (Taxation) and Steven R. Schneider, JD, LLM (Taxation)Almost every tax practitioner who has prepared or explained an LLC agreement has at one time or...

By: Kevin D. Quinn, J.D.The current environment has created a “perfect storm” of opportunity to preserve and protect family wealth: An unprecedented $5.25 million gift, estate and generation skipping exclusion...

by WealthCounsel Legal Education StaffAsset protection planning is no longer just for the ultra-wealthy or "litigation prone" clients—we know that. But do your clients? "Routine" asset protection planning is critically...

by WealthCounsel StaffAsset protection planning is a growing concern for many clients—and not just for the ultra-wealthy. Here's why:• Divorce rates in the U.S. over 50%;• Clients concerned about bloodline...

For numerous reasons, many of your clients can benefit from a conversation about asset protection. And now, it's time for Part 3 of our series, "Case Studies on Asset Protection."...

by WealthCounsel Staff Do you have clients with complicated, blended family situations like remarriages, shared children, step-children, and divorced children? What about those with high risk assets like rental properties...

by WealthCounsel StaffWe’ve covered a lot of ground in our first four of six case studies on the importance of asset protection planning, including: Bloodline protection concerns Beneficiaries as trustees...

by WealthCounsel StaffStandalone Retirement Trusts are separate trusts established for the primary benefit of being named as the beneficiary of a grantor’s retirement account when a client dies. With a...

by Jeramie Fortenberry, JD, LLM (Taxation) Executive Editor, Business Docx , WealthCounselAs 2015 draws to a close, your clients might now be considering year-end charitable contributions. For various reasons, some...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel Charitable giving is, once again, on the rise. It dipped sharply during the recent recession; however, in the last...

by Jennifer Villier, JD | Business Law Faculty, WealthCounselIt’s no surprise that LLCs remain an attractive option for business owners. In addition to providing them limited liability, they allow the...

By: Julieanne E. Steinbacher, Esq. and Adrianne J. Stahl, Esq.Are you stressed and overwhelmed because you cannot get everything done? Are you neglecting yourself, your friends, and your family? Do...

By Jeremiah Barlow, JDIn 2014, the Uniform Fraudulent Transfer Act (UFTA) was renamed to the Uniform Voidable Transactions Act (UVTA).1 Why is this important in asset protection? In the realm...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel I’ll admit to some real surprise when I learned how frequently our Supreme Court reached unanimous decisions in their...

The interview in all its many forms is a very powerful strategic conversation. Adopt this tradition in your office and begin booking clients for interviews right away. You’ll be pleasantly...

The importance of maintaining an up-to-date database should not be underestimated. Most of your new business will be referrals from the people whose names are in this file. Treasure and...

By: Mark Powers & Shawn McNalis, Atticus, Inc.If you’re not a natural marketer, are you doomed to always work for those who can make it rain? Or to join the...

by David Myers, JD | Cybersecurity & Technology LawyerLawyers should be on high alert regarding cybersecurity. Recent high-profile breaches have brought attention to law firms as valuable targets of cyber...

by Steven J. Oshins, JD, AEP (Distinguished) and Jeremy B. Spackman, JD, Reproduced with the permission of Leimberg Information Services, Inc Dahl v. Dahl received a lot of attention from...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Legal Education FacultyMost estate planning attorneys represent married couples that do not have taxable estates. Many of these couples have a simple...

by Jeramie Fortenberry, JD, LLM (Taxation) | Executive Editor, WealthCounselAlthough aggrieved parties have long been able to sue in federal court for copyright, patent, and trademark violations, no corresponding private...

Do not design your reports based on information you already track. You will stagnate by selecting objectives that accommodate what you already are doing. Start with your objective and work...

by Lou Vlahos, JD | Contributing Guest Writer Partnerships are typically the most flexible form of business structure, and accordingly the number of them continues to rise in the U.S....

by Jennifer Villier, JD | Business Law Faculty, WealthCounsel During a series of webinars on LLCs, quite a few participants submitted questions regarding whether an LLC that is owned solely...

On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance released a tax proposal, titled the Unified Framework for Fixing...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel When you think of waterfalls, perhaps Niagara or Victoria Falls comes to mind. Waterfalls in the legal sense might not...

By: Jeffrey Bedell, J.D.Initial interviews with prospective clients often consist of closed ended questions. “Do you own a home?” “Do you own a business?” “Are you married?” The fact gathering...

By Yvonne Olivere, JD | WealthCounsel Domestic Asset Protection Trusts (DAPT) have been a useful estate planning tool to help clients protect their assets from creditors. However, since each state’s...

by Randall H. Borkus, JD, and James W. Collins, JD of Borkus Collins Law and Richard J. Shapiro, JD of Blustein, Shapiro, Rich & Barone, LLPDivorce is an unfortunate reality...

By: Todd N. Hallock, J.D. America is a nation of givers. The 2012 Bank of America Study of High Net Worth Philanthropy prepared by the Center on Philanthropy at Indiana...

by Jeramie J. Fortenberry, J.D., LL.M., and Joseph Percopo, J.D., LL.M. Although no asset protection technique is bulletproof, third-party spendthrift trusts have long been considered to be one of the...

Codification of the ESD will have a significant chilling effect upon those who seek to engage in aggressive planning. However, less aggressive practitioners are not out of the danger due...

by Mark Bregman, JD | Contributing Guest Writer, Dyer Bregman & Ferris, PLLCA disclaimer is an irrevocable and unqualified refusal to accept an interest in property. Disclaimers can be a...

It has been a big year for trusts and estates attorneys and the 8th Annual Industry Trends Survey illustrates areas of growth and challenges the industry faces. The survey addresses...

by Jennifer L. Villier | Legal Education Faculty, WeathCounselIn recent years, the U.S. Department of Labor has intensified its focus on the misclassification of employees as independent contractors. In its...

by Jennifer L. Villier | Legal Education Faculty, WealthCounselUber—a popular on-demand ride-hailing service— has been riddled with litigation over whether its drivers are employees or independent contractors. Uber claims its...

by Gregory D. Singer, Vice President, Director of Research, Wealth Management Group Bernstein Wealth Management Research Reports The cost and benefit of "dollar cost averaging" What happens when you extend...

By: AJ Fudge, Esq.If you have clients who are horse owners, you are well-advised to find out if they have a plan in place to protect their horse in the...

By: Daniel M. Zugell, CLU, ChFC, LUTCF and Samuel A. Landman J.D., LL.M.With 10,000 baby boomers (those born between 1946-1964) turning 65 each day for the next two decades, it...

by Joseph Percopo, JD, LLM | Mateer & Harbert The recent Tax Court decision of Estate of Powell represents the latest successful attack on valuation discount planning. By extending application...

Whether you are new to estate planning or an industry veteran, refreshing your memory on the basics of estate planning is crucial.Read our Insight Brief, “Estate Planning 101: Back to...

Although recent discussions have focused on the eligibility of taxpayers to convert to a Roth IRA and the fundamental question of whether a Roth IRA conversion would be beneficial, a...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel Estate planning for blended families is complex and it requires a watchful eye and a delicate touch. Clients in...

By: Alison Arden Besunder, Esq.A client’s estate may contain many intangible intellectual property rights, such as trademarks, copyrights, and patents. This is more common when planning for the “creative” client...

Matthew T. McClintock, JD | Vice President of Education, WealthCounsel On June 26, 2015 the United States Supreme Court issued its opinion in Obergefell v. Hodges, the name assigned to...

While doctors, dentists, and other healthcare professionals share many of the same estate planning needs as any of your other clients, they also face some very unique issues. For example...

What happens to your online legacy when you die? This includes your websites, email, usernames, passwords, banking information, LinkedIn, Twitter, Facebook accounts, and even blogs. It is a question most...

By: Jonathan A. Mintz, Partner, Matsen Voorhees Mintz LLPTimes have changed. In fact, passage of the American Taxpayer Relief Act of 2012, signed into law January 2, 2013 (the 201...

Whitney Houston left her entire estate to her 19-year-old daughter, Bobbi Kristina Brown. Various news reports state Bobbi Kristina turned to drugs to cope with her 48-year-old mother’s premature death...

by Kristin Yokomoto, JD | Attorney & Counselor at Law - ‎Balanced Legal Planning, A Professional Law CorporationThe threat of an estate planning legal malpractice claim is daunting and real...

by Kristin Yokomoto, JD | Attorney & Counselor at Law - ‎Balanced Legal Planning, A Professional Law CorporationThe threat of an estate planning legal malpractice claim is daunting and real...

Estate plans are only effective when they accurately reflect your clients’ circumstances, as well as current state and federal tax law. Neglected estate plans not only jeopardize your clients’ estate...

While there may not be an estate tax in 2010, there is no question that some form of the estate tax will return. Rather than wait to see where the...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel Portability has been heralded as a way to simplify estate planning, but a closer look reveals this is not...

Brown points out that most clients appreciate attorneys who care enough about them to give valuable advice and recommendations about philanthropic opportunities. He explains the importance of asking clients the...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel If the death tax is dead, what’s the point of estate planning? Beyond the $5,000,000 inflation-adjusting estate tax exemption...

At common law, an individual shareholder of a corporation did not have a private cause of action against the corporation or its directors/officers. The theory was that the duty of...

by Gregory Herman-Giddens, J.D., LL.M., TEP, CFP®Learn about important income tax issues you should take into account when drafting trusts. With trust income taxed at rates as high as 43.4%...

by Gregory Herman-Giddens, JD, LLM, CFP®Learn more about of the considerations that an Executor/Trustee faces in preparing fiduciary income tax returns by downloading the following document, "Fiduciary Income Taxation." Then...

One of the most effective wealth transfer strategies of the past few decades may be going away this September. For many years, wealthy families have money into Family Limited Partnerships...

by Jeremiah H. Barlow, JD | Trusts and Estates Law Faculty, WealthCounselAs estate planners, we are all very familiar with the concept of portability. However, since 2010 when it was...

by Jeramie J. Fortenberry, JD, LLM | Director of Education, WealthCounsel On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on...

What, if anything, can a donor do to change or revoke this irrevocable trust when his or her financial situation has changed? Even if a CRT does not qualify for...

By James G. Blase, CPA, JD, LLM | Blase & Associates LLCHistorically minority interest discounts were the most popular tax strategy in succession planning. In a climate of high federal...

Everyone needs to think about Asset Protection Planning. The facts are, that most people who have assets at a value approaching one million dollars or more need to carefully consider...

By: Mark Powers & Shawn McNalis, Atticus, Inc.Given the delicate balance of power that exists in the attorney client relationship, the responsibility is yours: you must invest time in them...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel A coherent strategy for the transfer of assets is, of course, crucial to the success of any estate plan...

An estate plan does not properly work for the client until the client’s assets are re-titled (“funded”) so that they are aligned with the estate plan. Even beyond this stage...

This article is a continuation of a series of “how tos” for funding various types of assets. The scope of this article will review how to fund publicly traded stocks...

Good estate planners recognize the need for properly funded trusts. I often tell clients; a lot of estate planning is “title and beneficiary designations”. However, allowing clients to fund their...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounsel Choice of entity is fundamental to business planning. The best form of entity for a client’s business depends on several...

By: Jeramie Fortenberry, J.D., LL.M. (Taxation) When it comes to getting appreciated real estate out of a C corporation, there are no quick and easy solutions. But the tax problem...

By: Jeramie J. Fortenberry, JD, LLM, WealthCounsel Executive EditorPart I of this series discussed two strategies to get real estate out of a C corporation: (1) distributions to shareholders and...

Significant life changes are unsettling. We may have to move, meet new people and learn new things. While family support and financial security are critical, other factors are also quite...

by Jennifer Villier, JD | Business Law Faculty, WealthCounsel Is the veil of limited liability at risk? A recent Wyoming legal decision raised questions about the use of Wyoming single-member...

By: Marty L. Oblasser, Partner, Corthell and King, PCIn 2009, GreenHunter Wind Energy, LLC (“GreenHunter LLC”) entered into a contract with Western Ecosystems Technology (“Western”) for consulting services concerning the...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Executive Editor and Legal Education FacultyOn December 1, 2016, representatives of the Treasury and the Internal Revenue Service (IRS) held a hearing...

Not all families have the same concerns and objectives, and FLPs vary in their design and asset mix; as a result, no one solution will fit all families. Because of...

What thoughts, emotions, visions, and ideas does the term legacy planning conjure? We know what estate planning is, and we’ve all become more familiar with asset protection planning, retirement distribution...

by Marty Oblasser, JD | WealthCounsel Member since 20112015 saw 200+ published decisions involving LLCs and raised many important issues for practitioners, including piercing the LLC veil; conflicts-of-law; operating agreements...

by Matthew T. McClintock, JD, TEP | Vice President, Education @WealthCounselEstate planning for families these days is more reminiscent of "The Brady Bunch" than "Leave It To Beaver." Complex issues...

While tv-inspiring, the traditional law office is not as iconic as it once was. Instead, the traditional law office is in danger of becoming increasingly uncompetitive, inefficient, and less productive...

By: Philip J. Kavesh, J.D., LL.M. (Tax), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Tax and Probate Law and Steven J. Oshins, Esq.You would think these urgencies...

by Steven Dale, JD | The Dale Law FirmDid you know?~1 in 68 children has been identified with autism spectrum disorder. (CDC)3.4% of American adults have serious psychological distress causing...

By: Timothy B. Borchers, Esq.Timothy B. Borchers reccomends that clients in the 65 to 70 and older age range select a member of the family who would be their go-to...

by Bernstein Wealth Management Research Reports Reports about the poor financial condition of state and local governments make the headlines every day, but municipalities continue to take prudent action, including...

Many professionals target doctors as the ideal client because of their high incomes, which they maintain even during tough economic times. Doctors pay their bills. Doctors are subject to liability...

By: Jeffrey R. Matsen, Esq.Jeffrey R. Matsen presents a practice anecdote, offering his techniques that close the deal around a particularly difficult client. Through his technique, he gains confidence and...

Within the next ten years, the estate planning maintenance program model will become the industry standard. With the economic, cultural and estate tax law changes occurring at an alarming pace...

Now that you have your website up and running, you may realize that just having a website doesn’t necessarily bring clients to you. Here are some things you can easily...

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By: Jeffrey R. Matsen, Esq.All estate planning attorneys strongly desire and hope to obtain a high net worth client. But, once you do find that client, what is the specific...

Minors, whether they are a client’s children, grandchildren, nieces or nephews, or other intended beneficiaries, require special planning considerations. Read our Thought Paper, “How to Plan for Minor Beneficiaries” to...

One of the most powerful ways to position yourself as an expert, and increase the number of clients interested in your services, is to conduct seminars, lead workshops and speak...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounsel Any 50/50 business relationship can be tricky. The possibility of deadlock is real, and often a primary reason for avoiding...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel The U.S. Supreme Court recently handed down its opinion in Clark v. Rameker, a groundbreaking decision that could affect...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel A client who experiences a critically disabling event has to navigate and manage many obstacles, both physical and emotional...

by Gregory Herman-Giddens, JD, LLM, TEP, CFP®, Samantha Reichle, JD and Katie H. Muhlenkamp, JDEstate planning practitioners will find that a good working knowledge of fiduciary income taxation is vital...

by Ed Morrow, JD, LLM, CFP®What are NINGs and DINGs, and how can they be used? Download this article to learn more about an important weapon in the trust planning...

by Jon Ruff, Director, Dynamic Beta StrategiesBernstein Wealth Management Research ReportsEconomists’ views on the likelihood and severity of inflation have rarely diverged as widely as today. In this paper, we...

by Matthew T. McClintock, JD | VP, Education - WealthCounselOne of the most thought-provoking topics that I heard about at Heckerling 2016 was the emergence of international taxation as a...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounselAs estate planning professionals, our first questions are often, quite understandably focused on more practical, immediate considerations. (Is the plan...

WealthCounsel attorneys distinguish themselves in a number of ways but most significantly by being trusted advisors who care more about relationships than transactions. I often hear the question, “How do...

Various planning techniques are more in favor during periods of low interest rates such as we are experiencing in the US today. One of these strategies involves the use of...

by Bernstein Wealth Management Research Reports Considerations for individuals looking to manage the increase in tax rates coming in 2011. One rule of thumb in investing says that you should...

One rule of thumb in investing says that you should pay no tax before it is due. But because of the current transfer tax landscape, prepaying taxes—by making taxable gifts...

Download our sample gift trust and see how Wealth Docx® makes drafting gift trusts simple. Discover how a gift trust can help your clients transfer family wealth by holding and...

by Matthew T. McClintock, JD | VP, Education - WealthCounselOne of the most thought-provoking topics of 2016 is the emergence of international taxation as a practice area for trusts and...

by Matthew T. McClintock, JD, TEP | Vice President of Education, WealthCounselNobody pays estate tax anymore, but almost everyone still has a "death tax" problem. The American Taxpayer Relief Act...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselAccording to Kenny Rogers, “you can’t outrun the long arm of the law. No, you can’t outrun the long arm of...

By: Teresa Nuccio, Esq. and Robert P. Wolfson, Esq., CPAThe use of joint revocable trusts in a separate property state has been a controversial subject for over two decades. What...

by Andreea Olteanu, JDWith 2017 coming to an end and sweeping tax reform legislation, The Tax Cuts and Jobs Act, (Act) having been signed into law, some last minute...

No one likes to think about it, but the reality is that "gray divorces" are occuring more than ever. In fact, the rate of divorce for adults ages 50 and...

By: Julia Nickerson, Esq.Representing families who have a child with disabilities is a substantial part of our firm’s law practice. Many of these families have worked hard to build up...

by Bernstein Wealth Management Research Reports The market turbulence of recent years has been hard on investors emotionally as well as financially. Many are “shell-shocked” and scared to make any...

Recognizing that estate planning attorneys receive a large portion of their clients via referrals from financial planners, it is important for attorneys to have an inside look at the “roller...

Business owners like things straightforward. And, as their advisors, we need to keep it that way for them. Transitioning ownership of a business to the next generation can be pretty...

By: Joseph D. Welch, J.D.A common trap in designing LLCs owned by husband and wife (when corporate taxation is not otherwise advantageous) is failure to enable filing as a disregarded...

Farmers and ranchers have long been a critical component of the U.S. economy and of course, our food supply. But with rising corporate and international competition, farmers and ranchers are...

by Bernstein Wealth Management Research Reports A foundation represents a powerful commitment to do charitable good. Our research provides guidance -For potential donors on: Comparing the benefits of a foundation...

Although this article specifically addresses the Madoff fraud, some of the general principles discussed below will apply to other frauds, your clients, and perhaps some of the issues your referral...

By: Joshua Caswell, Esq. In the not so distant past, when the estate tax exemption was significantly lower than it is today, one of the main focuses of the estate...

All of this is to say: manage the perceptions of your clients. They are drinking in the look, the feel and the sound of your firm at all times. Your...

by Brenda Geiger, JDMarital planning in the joint trust context can be complex. As counselors, we are often asked which plan a client should choose, and sometimes the answer isn't...

By: Mark Powers & Shawn McNalis, Atticus, Inc.Harness the power of storytelling in your word-of-mouth marketing program and capitalize on the receptivity built into those you want to educate about...

By: Mark Powers and Shawn McNalis, Atticus, Inc.In 2001, a family law attorney in Dallas, Texas assembled a group of interested attorneys to discuss practice management issues. The plan was...

By: Brent Kellenberger, Esq.This concept of thinking inside the right box, as applied to Medicaid planning, refers to the attorney getting out of her proverbial “box” to spot and reveal...

MSAs always need to be looked at when a client asks you to establish a special needs trust that is to hold the proceeds of a lawsuit. This article provides...

by Jennifer Villier, JD | Business Law Faculty, WealthCounselAs flexible business entities, LLCs can generally be formed for “any lawful purpose.” A recent case out of the Delaware Court of...

By Kristin YokomotoThe demand for asset protection by persons seeking to protect their wealth from creditors and third parties is justifiably on the rise. Similarly, the number of attorneys becoming...

Many clients are paralyzed by the current financial crisis. They desire to protect what they currently have while simultaneously taking advantage of opportunities presented by this unique financial crisis.To learn...

by Bernstein Wealth Management Research Reports Time and taxes will erode even the greatest fortunes without the right investment and inheritance plans in place. But the planning required can be...

by Jeramie Fortenberry, JD, LLM (Taxation) | Executive Editor, WealthCounselThe Protecting Americans From Tax Hikes Act of 2015 (PATH) provides long-awaited certainty for taxpayers that make charitable contributions from IRAs...

Along with the birth of a child and the death of a spouse, marriages are perhaps one of the most important life events that should trigger a reappraisal (or the...

By: Brian C. Layman, JD, CPA, M.Tax and Charles H. McClenaghan, Esq. In the last edition of the WealthCounsel Quarterly, Steve Oshins provided an overview of Domestic Asset Protection Trusts...

Estate planning attorneys need to extend their planning to serve their aging clients’ immediate needs. By increasing your value, you can gain lasting relationships and meet your revenue goals. Learn...

By: Shara Kamal, Esq.While no transition is easy, it is necessary with appropriate timing and guidance and it can be the best business decision that you make. Here are several...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel2015 can be considered the year of lessons learned for small or closely-held business owners as demonstrated by two compelling cases...

by Matthew T. McClintock, JD | Vice President of Education, WealthCounselMark Twain once quipped, “The rumors of my death have been greatly exaggerated.” The same might also be said of...

by Matthew T. McClintock, JD | Vice President of Education, WealthCounselIn Part I of this series, we looked at fiduciary income tax. The other “new death tax” we must consider...

by Matthew T. McClintock, JD | Vice President of Education, WealthCounselParts 1 and 2 of this series examined two new death taxes—fiduciary income and capital gains. Now in the final...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounselLegal engagements involving fee sensitive clients present certain challenges that attorneys should be prepared to navigate. While many potential clients understand...

Helping clients obtain benefits through the Veterans Administration (“VA”) is a rapidly growing area. Estate planning and elder law attorneys alike are adding this to their repertoire of services to...

As an estate planning attorney, you can be of great service to the cause of your choice. Your involvement can start with forming a planned giving committee for a charity...

Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel “Old age is no place for sissies,” Bette Davis famously remarked. For those who reach that “place,” living those golden...

by A.J. Fudge, JD | Contributing Guest Writer, Law Offices of AJ FudgeIt’s gratifying to uncover an issue or identify a solution that our client hasn’t thought of yet, and...

By Scott Squillace, JD | Squillace & Associates, P.C. On June 26, 2015, the Supreme Court handed down a historic decision, Obergefell v. Hodges, 135 S.Ct. 2584 (2015), ruling that...

The family vacation home or cottage is an integral part of those wonderful summer days, a much treasured family asset and yet an often under-planned one. The founding generation has...

A pet trust instrument may not be of common knowledge to the average pet owner. You may help educate your client about this available option now permitted in California. Your...

by Patrick Carlson, JD, LLM | Practice Development Mentor, WealthCounselBeing a great attorney doesn't guarantee a successful practice. What they don't teach in law school is how to market yourself...

By: Matthew T. McClintock, J.D.The Supreme Court’s decision in U.S. v. Windsor signaled what may become a new era of federal recognition of same-sex marriages legally performed under state law...

by Matthew T. McClintock, JD, TEP | Contributing Guest WriterIt seems that the only certainty in 2017 is uncertainty. Legal and financial planners alike are faced with clients who are...

Our approach to asset protection planning is simple: we strive to position our clients so that they are unattractive targets for lawsuits and thereby force favorable settlements. It is just...

The state of Wyoming has done it again! In 1977, Wyoming was the first state to enact an LLC statute. Now all states have them. Effective July 1, 2010, Wyoming...

by Craig R. Hersch, JD, CPA | Partner, Sheppard, Brett, Stewart, Hersch, Kinsey and Hill, PA"May you live in interesting times" is thought to be an ancient Chinese curse. Whatever...

by Patrick Carlson, JD, LLMWhy do so many of us seem worried by the political and legal uncertainty surrounding taxation, healthcare, and other issues affecting our clients and our practices...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Director of Education, WealthCounselSince their publication on August 4, 2016, the proposed regulations on valuation discounts for family-owned businesses under Internal Revenue...

Undue influence has always been a cause for concern among estate planning professionals. Read our Insight Brief, “Preventing Undue Influence in Your Clients’ Estate Plans” to learn the warning signs...

PPLI is most often used as a simple, tax-efficient investment vehicle. However, by adding varying layers of complexity and employing competent counsel and advisers, PPLI should be a part of...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselPresident-elect Trump promised to repeal and replace the Affordable Care Act ("ACA") a.k.a. "Obamacare," in part because of the impact that...

By: Jeffrey R. Matsen, Esq. The question of whether or not a personal family residence should be placed into a Family Limited Partnership (“FLP”) or Family Limited Liability Company (“FLLC”)...

In cross-selling you educate your present and past clientele about your range of services, with the hope that they will want to use more of what you have to offer...

A great many attorneys make this same mistake: they ignore the substantial revenue that their referral sources provide and are caught off guard when one defects. Have you ever had...

In this article, Mark Powers (President of Atticus) and Shawn McNalis (Atticus senior practice advisor) discuss the importance of an attorney’s referral sources and provide important tips on what you...

by George C. Constant | Contributing Guest Writer, Constant Law GroupEvery minute, some 168 million emails, 695,000 Facebook updates, 300 Twitter accounts, 600 YouTube uploads, and 100 new LinkedIn members...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Legal Education Staff, WealthCounselUtah Jazz Owner Gail Miller recently made basketball news by announcing that she and her family had transferred the...

By: Dagmar M. Pollex, J.D.The boomers are coming! That’s the gist of the many reports and news stories that have been published in the last few years. It seems that...

By: Candice A. Garcia-Rodrigo, Esq.With the prevalence of Internet marketing, direct mailers, and mass media advertisements, an estate planning attorney has heavy competition in reaching her target market. The delicate...

A majority of Americans' wealth is comprised of retirement account assets. A simple "fill-in-the-blank" beneficiary designation form will likely not meet your client's goals or their beneficiaries' needs. Review some...

by Bernstein Wealth Management Research ReportsWith longevity increasing, many investors can look forward to decades of retirement—a double-edged sword, given the unpredictability of the markets, inflation, taxes, traditional mainstays (like...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Legal Education Faculty, WealthCounselRev. Proc. 2016-491 was issued on September 27, 2016, bringing long-awaited clarity to the relationship between portability and the...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounselThe Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) has been enacted in 15 states so far and is headed...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselBusiness planning attorneys routinely counsel clients on the risks of veil piercing. Failing to operate a business as a separate entity...

Digital assets present new complexities that attorneys must address if they are to create comprehensive estate plans. No longer can language in estate planning documents, alone, serve as a means...

by Jennifer Villier, JD | Business Law Faculty, WealthCounselLLCs are indeed flexible business structures, but LLC members and managers must be careful not to confuse “flexibility” with “informality.” A recent...

by Bernstein Wealth Management Research ReportsThe Roth IRA is arguably the most powerful retirement and estate planning tool not available to wealthier investors—until now. Those who have enough wealth in...

There’s a widespread misconception that the only gun owners in need of special consideration for firearms in their estate planning are those individuals who own a very valuable collection (i.e....

Fales details his experiences as a WealthCounsel member, and explains that as times are getting more turbulent, the collaboration with fellow members is more important to him than ever. He...

Download a sample gun trust to see how Gun Docx guides you through the drafting process and provides the options that your clients need.

By: Jennifer Villier, JDWe have all heard the common expression: “you get what you pay for.” Touted by some as a low cost asset protection strategy, series LLCs have gained...

The difference between effective planning and getting it wrong can cost your family millions of dollars. Done correctly your retirement plan can preserve some significant funds for future generations to...

While there may not be substantial differences in planning for men and women, there is no question that women approach things differently. Learn how one attorney's awareness of these differences...

With 236 million active users, Twitter is becoming a crowded place. Even if you’re receiving a small fraction of the 500 million tweets that occur every day, it’s easy to...

In this digital age, there are many more media to reach prospective clients and referral source than ever before, and it can be hard to choose the most effective one...

Chances are, you're already on LinkedIn. But is that enough? While many of its core features are free, upgrading to a paid, premium account gives you access to new or...

The word “hashtag” was added to the Oxford Dictionary in 2010, but many people are still confused about how, where and when to use them. Figuring it out is more...

Balancing social media marketing and your law practiceOur series on Social Media for Attorneys focuses on using social media to build your practice. LinkedIn, Twitter, Facebook, and blogs are all...

3 STEPS TO CONSIDER TAKING TO MAKE YOUR LINKEDIN PROFILE WORK FOR YOU. Since the world’s first attorney hung out a shingle, the practice of law has always been a...

Blogging for Business 101If you haven't considered starting a blog for your law business, you should. Here are a few reasons why:It drives search traffic to your website — Hubspot...

Build Your Network With LinkedIn GroupsIn parts one and two of our series on LinkedIn for Attorneys, we shared how to optimize your LinkedIn profile and build your brand with...

Are you on Twitter yet? To date, 284 million active users are. Millions of conversations and connections are happening on Twitter every day, and not all of it is celebrity...

When it comes to online networking, there’s one premier social media platform for professionals—LinkedIn, now more than 313 million members strong. This installment of our continuing series on "Social Media...

Like many successful attorneys, you're probably using multiple social networks —blogs, LinkedIn, Twitter, and others — to reach out to clients, prospective clients, and referral sources. But as your practice...

By: Heath Oberloh, Esq.South Dakota recently enacted changes to its Domestic Asset Protection Trust (DAPT) statutes which will further strengthen South Dakota’s status as one of the premier trust jurisdictions...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Executive Editor and Legal Education Faculty, WealthCounselOn December 7, 2016, the U.S. Senate approved the 21st Century Cures Act (H.B. 34) that...

Download our sample special needs trust and see how Wealth Docx® makes drafting these types of trusts simple. Discover how a carefully crafted special needs trust can help your clients...

For most Americans, the majority of one’s wealth is now held in retirement accounts. When it comes to inheritance and estate planning, special considerations are necessary to ensure that these...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounselTrust fund loopholes: How to prepare your clients for potential tax changesIn his 2015 State of the Union address, President...

By: Eric A. Manterfield, Esq.The advisor cannot plan around the entrepreneur’s refusal to face his or her own mortality and to make difficult (and emotional) decisions. Family business owners typically...

By: Howard Lang, Esq. and Rob Lang, Esq.Litigation between business partners, sometimes termed “business divorces,” can be as ugly, contested, high-stake, costly, and emotionally taxing as family law divorces. These...

by Bernstein Wealth Management Research Reports This study examines: How cash balance plans can secure better retirement outcomes for professionals Why a plan’s asset allocation, crediting rate, and shortfall terms...

By: Frank Selden, Esq.This article is directed to entrepreneurs financing new or existing businesses using their own retirement funds, a funding mechanism called a Roll-Over Business Start-up (ROBS). Opinions about...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel Call it, if you will, a first principle of estate planning: What fits you now won’t fit you forever...

O’Neill explains that clients often want to know what happens to their estate plan if the attorney is no longer around. He offers succession planning solutions for other attorneys and...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Legal Education Faculty (Trusts and Estates)With a Republican President and a Republican majority in the House and the Senate, many speculate that...

By: Jeremiah Barlow, JDIn its unanimous decision, the U.S. Supreme Court held in Clark v. Rameker, 573 U.S. (2014), that funds in an inherited IRA are not considered “retirement...

By: Craig Redler, Attorney at Law, Manager - Client Services, Southpac Trust This is just a small sample of the dozens of jurisdictions that have asset protection legislation. The lesson...

by Matthew T. McClintock, JD | Vice President of Education, WealthCounselIn Part I of this series on Trust Modification, I addressed the first three — the simplest— modification options: Reformation...

by Matthew T. McClintock, JD | Vice President of Education, WealthCounselCircumstances change. That's life. Whether it's tax implications brought on by ATRA or a client's needs change, there are options...

by Matthew T. McClintock, JD | Vice President, Education - WealthCounselIn my previous article, Part II – Decanting, I addressed the option where a trustee exercises his or her discretion...

by Francis W. Dubreuil, National Managing Director, Wealth Management Group and Jon Ruff, Director, Wealth Management GroupBernstein Wealth Management Research Reports This report discusses: The planning required to transfer a...

The authors explain that as clients advance in age, their need for life insurance also changes. Clients with life insurance policies that no longer serve a purpose have many choices...

By Jeramie J. Fortenberry, JD, LLM | Director of Education, WealthCounselAlert: Congress Passes Sweeping Tax Reform BillThe most significant tax reform package of this generation is now awaiting the President’s...

By: Scott E. Squillace, Esq.Although gay marriage has existed now for over 10 years in some states and is increasingly accepted, only 17 states plus the District of Columbia currently...

by John H. Burman | Contributing Guest Writer, Corthell and King, P.C.Think about how you ran your legal practice, communicated, and managed your personal and/or professional accounts 10 years ago...

by Jeramie Fortenberry, JD, LL.M. (Taxation) | Executive Editor, WealthCounselThe Bipartisan Budget Act of 2015 (P.L. 114-74), signed into law on November 2, 2015, effectively repealed the Tax Equity and...

As estate planning attorneys, we always plan for the worst, even if we’re pretty sure it will never happen. No matter where you are in your life — even if...

How bad is it out there? Perhaps you’ve been reading news of high profile estate disputes with tens of millions of dollars at stake. Or perhaps you personally know of...

By: Philip J. Kavesh, J.D., LL.M. (Tax), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Tax and Probate LawPhilip J. Kavesh presents the top 10 most common mistakes...

On December 19, 2014, the U.S. Congress signed the Achieve A Better Life Experience (ABLE) Act into law. This enables people with disabilities to set up tax-free savings accounts to...

by Bernstein Wealth Management Research Reports Selling a privately held business may be the most important financial event in an owner’s life. Identifying personal goals in advance can help maximize...

by Jeremiah H. Barlow, JD | Trusts & Estates Law Faculty, WealthCounselBefore the American Taxpayer Relief Act’s (ATRA) enactment in 2013, estate planning attorneys focused primarily on how to avoid...

By: Julie K. Kelly, J.D. On March 25, 2014, the Internal Revenue Service issued a notice classifying Bitcoin as property for U.S. tax purposes. Thus, individuals who invest in Bitcoin...

By: Steven J. Oshins, Esq., AEP (Distinguished)The Beneficiary Controlled Trust concept is fairly simple. It is a trust in which the primary beneficiary is either the sole trustee or co-trustee...

Both estate planners and their clients benefit from estate planning family mediation. Prepared heirs are less likely to create or sustain conflict within a family or against the estate planning...

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel The truth is effective, strategic estate planning solutions are the result of a very personal process. And in today’s...

Estate planning attorneys can no longer afford to ignore the non-tax benefits of creating a bypass trust upon the death of the first spouse. Properly drafted, a bypass trust can...

By: James Kalicki, J.D.I find that once clients see the big picture, they are relieved and even excited to nominate an independent trustee to serve after the second death. The...

by Elliot P. Smith, JD, M.ACC., MS, CPA | Pearson, Butler & Carson, PLLCFor attorneys serving clients with special needs beneficiaries, it’s essential to understand the Achieving a Better...

By: Steven J. Oshins, Esq.A Domestic Asset Protection Trust (“DAPT”) is an irrevocable trust established under the special laws of one of the jurisdictions that allow the settlor of the...

By: Matthew T. McClintock, J.D.Virtual learning is becoming everpopular and results from our social need for educational change. Accessing quality education and training from the convenience of the home or...

by Bernstein Wealth Management Research Reports Investors holding concentrated stock positions must grapple with a number of complex questions. A comprehensive analysis of the key issues: The tax cost of...

An attorney armed with an in-depth knowledge of the physician culture, and who understands the obstacles physicians face and their underlying feelings towards attorneys, will position themselves favorably to penetrate...

by Kristin Yokomoto, JD - WealthCounsel Member Since 2014Due to the unique nature of estate planning which may involve, among other types of planning: (a) planning for joint clients; (b)...

By conducting a family meeting, the potential for misunderstanding, family objections, confusion, delay and loss of control is reduced. There has already been a “dress rehearsal” of roles and responsibilities...

By carefully drafting the trust, we can give our clients the results they actually expect. They want a tool that gives them control over future events. It is the client’s...

Holmes explains that New Hampshire, with the adoption of the Qualified Disposition in Trust Act in 2008, has created an attractive alternative for the creation of Domestic Self Settled Asset...

by C. Dennis Brislawn, JD and Matthew T. McClintock, JDYou've mostly likely already heard about new federal regulations regarding firearms regulated by Title II of the Gun Control Act —...

by Jeremiah Barlow, JD | WealthCounsel Trusts & Estates FacultyUnderstanding basis and how it applies in estate planning is one of the foundational concepts of the post-ATRA era. Download this...

In this article, Mahoney discusses the use of the Irrevocable Income Only Trust as a mechanism in Medicaid/nursing home planning. He probes issues such as whether the deeding of realty...

By Jennifer Villier, JD | Business Law Faculty, WealthCounsel This article highlights some of the most significant issues attorneys and their clients face as a result of the emergence of...

If you are currently serving as a trustee, the settlor may have asked you to withhold certain trust information from the beneficiaries, especially if the beneficiaries are their children. Such...

By: Sarah Maria Driesbach, JD Successful estate planning attorneys create plans that effectively assist their clients in passing down their wealth. However, does your counseling include educating families regarding how...

By: Matthew T. McClintock, JDMost often, articles about the estate plans of dead celebrities focus on the legal challenges they raise or the amount of estate tax that could have...

Kaufmann’s clients often wonder why they need a Pour Over Will if they have a Revocable Living Trust. He points out that if the Trust is properly funded and if...

There are many reasons an estate planning attorney should consider expanding their legal practice to include business planning. One of them being the Tax Cuts and Jobs Act (TCJA), which...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselSeries LLCs have been called the next generation of pass-through entities, gaining in popularity and use as states continue to authorize...

By: Patrick Carlson, J.D., LL.M.Are you approaching marketing your law business from a dieting perspective? When business is slowing down or you’re looking to grow, do you try “quick fixes”...

by Jeramie J. Fortenberry, JD, LLM and Andreea Olteanu, JD As expected, the GOP Act is extensive, but WealthCounsel's Education team has broken it down to focus on elements most...

By: Philip J. Kavesh, J.D., LL.M. (Tax), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Tax and Probate LawSeminar marketing wasn’t something that you were ever taught in...

By: Stephanie N. Prestridge, J.D.Stephanie N. Prestridge explains that because of personal hardship she watched her grandparents face, she made a commitment to change the estate planning process for her...

By: Mark Powers and Shawn McNalis, Atticus, Inc.Years ago, while having lunch with a friend, I spotted a potential referral source I wanted to meet, dining at another table. He’d...

by Matthew T. McClintock, JD VP, Education | WealthCounselOnce found only in offshore asset protection trusts, the use of trust advisors and protectors in the domestic trusts and estates context...

by Jennifer Villier, JD | Business Law Faculty, WealthCounselThe strict privity rule has long protected estate planning attorneys from lawsuits brought against them by disappointed beneficiaries. While some states have...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselOn the heels of his inauguration, President Trump quickly got to work exercising his executive authority to implement some of his...

Fill out the form below to view the transcript of their discussion.

by William Conway, JD and Mary Merrell Bailey, JD, CPA, MBA, MS (Tax), MSAThis 2 page excerpt covers some basic concepts of Irrevocable Life Insurance Trust (ILIT) Planning, including:What’s the...

By: Paula Clarkson, J.D.Naming beneficiaries of an insurance policy seems likes an easy thing to do. If a person is married, the spouse is the beneficiary. The children are often...

by Karen L. Brady, JDThe buy-sell agreement arguably is the most important legal agreement for closely-held entities. It can also be an area of great risk for unanticipated outcomes if...

by Bernstein Wealth Management Research ReportsOne of the most effective wealth transfer strategies using marketable stock, “rolling” two-year GRATs will no longer be possible if legislation currently before the Senate...

Decanting trusts is a strategy that is increasingly gaining the attention of estate planning professionals — and with good reason. Essentially, decanting is a creative, yet underused, option for your...

By: Steven J. Oshins, Esq., AEP (Distinguished)Estate planners are constantly looking for additional ways to save taxes for their clients. One often-overlooked concept is to use trusts to save state...

The income tax planning strategies for, and consequences of establishing a non-grantor trust are many and varied. It should serve as sufficient warning that negative and unintended consequences have and...

by WealthCounsel StaffTrusts are common techniques used to protect assets and to transfer the contents of an estate to the next generation. Importantly, trusts are taxed differently than individuals, and...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel Uber is facing many questions and challenges related its business model. However, the biggest issue currently confronting the upstart company...

by Jennifer L. Villier, JD | Business Law Faculty, WealthCounselSeries LLCs, if structured properly, can provide significant liability and asset protections. They have been called the next generation of pass-through...

by WealthCounsel StaffSwap powers are an important but often overlooked opportunity in estate planning. Attorneys working with clients to maximize tax savings and preserve assets should be aware of the...

By: Laura French, J.D., LL.M. in TaxationAs experienced practitioners, we have all used the annual and lifetime gift tax exclusions to benefit our clients and help them reach their financial...

By: Robert S. Keebler, CPA, MST, AEP (Distinguished)As shown in this article, the savings of making the S-election can be significant. However, this strategy can only be applied to specific...

The issue is not whether a discount is appropriate, but what is the appropriate discount. This is particularly important in today’s environment because of the Internal Revenue Service’s increased hostility...

Revenue Ruling 2008-22 clarified how to create a “defective” grantor trust without causing the trust to be included in the grantor’s estate. Daniel Capobianco’s article discusses the ramifications and utility...

At least one silver lining has emerged from the recent dark clouds over financial markets: Low interest rates and depressed asset valuations make it easier to escape gift and estate...

by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounselIs the sky falling on small business because of Trump’s victory, or will business owners thrive under the Republican policies? As...

by Jeramie J. Fortenberry, JD, LLM (Taxation) | Executive Editor and Legal Education Faculty, WealthCounselIn a surprising upset, Republican candidate Donald J. Trump defeated Secretary Hillary Rodham Clinton on November...

The Internet has changed the way consumers research, evaluate, and select the products and services they purchase. Law firms are no exception. To ensure your firm’s success, position yourself with...

What does the average American really think about estate planning? Does the average American think about estate planning at all? New data shows significant knowledge gaps around practical applications of...

By: Matthew T. McClintock, J.D., Vice President, Education, WealthCounselPortability is now here to stay – at least, says the cynic, until Congress revisits the transfer tax laws. But since ATRA...

by Jonathan A. Mintz, JD | Contributing Guest Writer, Evergreen Legacy Planning In a year of change and uncertainty, planning for non-US citizens meets a vital need for many families...

It’s no surprise that challenges to a decedent's will or trust are on the rise due, in part, to growing financial portfolios, higher rates of blended families, and an ever-increasing...

By: Matthew T. McClintock, J.D., Vice President, Education, The WealthCounsel CompaniesThe uncertainty of the pre-ATRA transfer tax system motivated many clients with higher net worth to implement sophisticated, multi-layered estate...

by Matthew T. McClintock, JD | Partner, Evergreen Legacy LawDespite its name, it is a myth that Irrevocable Trusts (IRTs) cannot be modified. When circumstances change that impose new adverse...

By: Matthew T. McClintock, J.D.We all know by now that ATRA 2012 provided the first permanent transfer tax law in more than a decade. The federal estate, gift, and GSTT...

What would you do if you knew you could not fail? There are an unlimited number of ways to prepare for the interesting challenges and opportunities 2011 and beyond will...

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Can your clients articulate clear plans for using inherited wealth to build healthy relationships? Do your clients have business succession plans in place for the seamless transfer of family business...

The current transfer tax structure, depressed values and low interest rates create tremendous opportunities for our estate planning clients. As estate planners, we constantly evaluate the best options for those...

Ryan D. Brown, JD and Paul G. McGillivray, JD | Contributing Guest WritersEstate planning and elder law attorneys are looking to increase their clientele and services. Clients need retirement...

Community volunteers often ask attorneys, CPAs, and financial advisors to donate their time and expertise to set up nonprofit organizations. Before you agree to help, ask yourself the following:First, can...

The holiday season may be one of the busiest times of the year for estate planners. With family already on their minds, your clients may be reaching out to you...

By: Mary Merrell Bailey, JD, CPA, MBA, MSTaxation, MSAccountingEstate Planning is a specialized field with its own vocabulary. Often, the same idea is known by multiple names, which can be...

The WealthCounsel e-mail lists are a wonderful way to get to know your colleagues, supplement your legal research and confirm your legal analysis. Whether you are a new member, transitioning...

By: Bill Wilson, J.D.A practitioner must decide between two types of second or satellite offices. One is a fully staffed office, much like the first office, and the other is...