Sam Beemer had asked his two sons to come to a family business meeting. Having just celebrated his 70th birthday, he was feeling his mortality.1 And he'd been thinking about how to transition the family business interests worth $100 million. Sam...
With continuing confusion about transfer tax repeal or reform, estate planners have at least one constant and true certainty: compliance. Recently, requirements have increased dramatically, adding to the growing burden of estate planners' duties...
If there was a theme in international estate planning in 2006 it might be local is global. Countries (principally in Europe) made changes that were largely local in nature but had implications for foreigners. Expect to see these changes play an...
If I had to rank the 23 perpetual trust jurisdictions, top honors would be awarded in this order: South Dakota is number one; Delaware is a close second; and both Alaska and New Hampshire are tied for third place.1 What does such ranking mean to...
Whatever happens to the value of real estate in coming years, one thing is certain: It has become and will remain a large, important part of wealthy clients' portfolios. Even in bad times, real estate has the potential for growth and income...
Private equity is a hot investment these days. And while you may be referring your ultra-high-net-worth clients to established private equity firms, don't be surprised if a wealthy client asks you for advice on a private investment opportunity...
Google Estate of Lillie Rosen and you'll get about 20,200 results. The number and breadth of websites devoted to Lillie Rosen and her family limited partnership (FLP) shows the buzz this case generated in the estate-planning community this year...
Advisors promote trusts as an indispensable component of the estate plan. We tout the importance of trusts for credit shelter and generation-skipping transfer (GST) tax planning. We proclaim that trusts protect assets from creditors, including...
Andrew M. Katzenstein, a partner in the Los Angeles office of Katten Muchin Rosenman LLP, reports: Changes proposed to regulations (Treasury Regulations Sections 1.72 and 1.1001-1(j)) governing the income taxation of private annuity sales...
In recent years, asset protection planning has won its rightful place as a legitimate specialty, aimed at curtailing the reach of potential, future creditors. Of course, there are still those who believe that it's wrong to ensure against the...
