By Steven J. Oshins, Esq., AEP (Distinguished) In an official hearing, a “motion” is a formal proposal made to the group to take or not take an intended action. This article will put forth seven motions for consideration in the estate planning industry. Motion #1: I hereby make a motion that from this day forward nobody shall continue to claim that Domestic Asset Protection Trusts don’t work. Result- Motion Granted: It has been 20 years since the first Domestic Asset Protection Trust statute was enacted. In this period of time, to this date there still hasn’t been even one non-bankruptcy,…
Trust Administration: Why it Should be a Part of Your Practice
By Kristin L. Yokomoto, J.D., LL.M. (Taxation) As an estate planner, you help your clients to achieve extremely important goals including, among other things, to nominate guardians for minors; avoid probate; minimize gift, estate and generation skipping transfer taxes; protect their children and other beneficiaries’ inheritance from creditors and predators; and nominate agents, trustees and executors who will manage their estate and make decisions for them upon incapacity or death. It can be a very fulfilling and rewarding process for both you and your clients during which time they necessarily share some of their most private information – marriage and…
Three Ways Your Business Planning Practice May Be Impacted by Republican Tax Reform Proposals
By Jennifer L. Villier, JD | Legal Education Faculty, WealthCounsel On the heels of his inauguration, President Trump quickly got to work exercising his executive authority to implement some of his campaign proposals. With a stroke of his pen, President Trump has frozen pending regulations, increased border security measures, frozen federal hiring, withdrawn from the Trans-Pacific Partnership, and prioritized deportation of undocumented immigrants. President Trump has stressed that putting “America first” by protecting our borders and bolstering small businesses are fundamental to his objective of driving domestic economic growth. While we await developments on proposed tax reform, we can prepare…
Robert Keebler Podcast on the Death Tax Repeal Act of 2017
Thanks to the generosity of Stephan Leimberg and Leimberg Information Services, we are pleased to bring to you complimentary podcasts on the following important updates. Senate Bill 205, the Death Tax Repeal Act of 2017 Senate Bill 205, the Death Tax Repeal Act of 2017, would not only repeal the estate tax — it would also eliminate a technique designed to reduce state income tax, the ING trust. Bob Keebler reports. LISI members can read more about S. 205 and other estate tax repeal proposals in Estate Planning Newsletter No. 2516 by Ed Morrow, published on February 10, 2017. To…