Set It, But Don't Forget ItSet It, But Don't Forget It
Perhaps it's a matter of managing expectations and responsibilities between attorneys and clients about who will have the ongoing responsibility to ensure that various technical requirements and administrative details of an estate-planning transaction will be properly handled after the transaction is implemented. We, as estate planners, are well aware that the most brilliantly structured transaction,
N. Todd Angkatavanich & Stephanie Loomis-Price
Perhaps it's a matter of managing expectations and responsibilities between attorneys and clients about who will have the ongoing responsibility to ensure that various technical requirements and administrative details of an estate-planning transaction will be properly handled after the transaction is implemented. We, as estate planners, are well aware that the most brilliantly structured transaction, designed to save substantial income and transfer taxes, will only be successful if the technical requirements are followed in the ongoing administration of the vehicle.
Sophisticated estate-planning structures are by no means “set it and forget it” vehicles, and the lack of proper administration c...
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