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A Gift From Above: Estate Planning On a Higher PlaneA Gift From Above: Estate Planning On a Higher Plane

Generally, most clients want the same thing: control, use and enjoyment of their assets until death and protection of their assets from potential claimants. They also want these same benefits for their family members after they themselves pass away. Ideally, these goals can be met in a tax efficient manner. It's a fundamental fact of estate planning that to best accomplish these goals, the assets

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Jerome M. Hesch, Lawrence Brodyand 2 more

November 1, 2011

44 Min Read
Wealth Management logo in a gray background | Wealth Management

Jerome M. Hesch, Lawrence Brody, Richard A. Oshins & Susan P. Rounds

Generally, most clients want the same thing: control, use and enjoyment of their assets until death and protection of their assets from potential claimants. They also want these same benefits for their family members after they themselves pass away. Ideally, these goals can be met in a tax efficient manner.

It's a fundamental fact of estate planning that to best accomplish these goals, the assets must be passed on in a generation-skipping trust. The trust can be designed to achieve the desired benefits, generation after generation, even though the trust beneficiaries are given “in trust benefits and controls.” This designation makes assets inherited in trust much more val...

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About the Authors

Lawrence Brody

Senior Counsel, Harrison & Held, LLP

Lawrence Brody retired as an Adjunct Professor at Washington University School of Law, after fifty years of teaching Estate Planning and Drafting.  He is a visiting Adjunct Professor at the University of Miami Law School, teaching a course on Life Insurance.  Mr. Brody is the author or co-author of numerous articles and books on the use of life insurance in estate and employee benefit planning, including two BNA Tax Management Portfolios, two books for the National Underwriter Company, and a number of volumes in the ABA Insurance Counselor Series.

Mr. Brody is a frequent presenter for ALI-CLE estate planning programs, Society of Financial Professionals programs, major life insurance industry programs (including the MDRT, LIMRA, the Top of the Table, AALU and the International Forum), the Heckerling Institute, the Notre Dame Estate Planning Conference, the Southern Federal Tax Institute, the NYU Tax Institute, the NAEPC Annual Meeting, and regional and annual ACTEC conferences.

Mr. Brody is a member of The American College of Trust and Estate Counsel (ACTEC), an emeritus member of the Advisory Committee for the Philip E. Heckerling Institute on Estate Planning (University of Miami School of Law), and a member of the Editorial Board of the Society of Financial Service Professionals CLU Journal.   Mr. Brody received the designation of Accredited Estate Planner by the National Association of Estate Planners and Councils and was one of ten individuals awarded its Distinguished Accredited Estate Planner designation in the initial class (2004).  He has been named in the Private Wealth Law Section of Chambers High Net Worth Guide. Mr. Brody was named a Distinguished Law Alumni by Washington University School of Law in 2012.