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Trust Administration

It's not uncommon for an old irrevocable trust to no longer fit a family's circumstances, for the simple reason that Yogi Berra was right when he noted that "It's hard to make predictions, especially about the future." Trusts provide advantages, including protection from creditors, divorce, or spendthrift behavior. To obtain these advantages, trusts place restrictions on a beneficiary's access to [...]

Even in an era of relatively high estate tax exemptions, I work with many families who want to use a trust to provide for the management of a child's inheritance. How a son in law or daughter in law should be treated in a parent's estate plan, though, is a more subtle issue that families [...]

The popular financial press is pretty crowded, just like the blogosphere. Yet every once in a while, an article says something pretty simple that's also really important, something that connects strongly with issues we see time and again in our practice. Last week, Howard Gold published that sort of piece on Marketwatch.com: "The biggest retirement [...]

A decade ago, when the estate tax exemption was much lower, the irrevocable life insurance trust (or "ILIT") was a component of many (or even most) tax-aware estate plans. It was common for physicians, attorneys, architects, engineers, and corporate executives to have insurance trusts, without necessarily knowing why that was so. Reassured by their attorneys [...]