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In response to representations made since the Pre-Budget Report, HMRC announced that the draft legislation released in December and, in particular, the definition of a "bank" did not actually reflect their intentions and that the legislation will be substantially amended in this regard. Withers Worldwide provides a summary of the amendments and their future implications.

Gifting may be the place to start in planning a long-term estate planning strategy, according to this paper from Wells Fargo. While gifting can be useful in transferring tax savings, it also can provide a real-time snapshot of the estate plan by allowing the giver to see how beneficiaries accept and respond to the gifts and then to change the estate plan in response.

Although estate tax laws may be uncertain, now is the time to review estate planning documents. This report from Schiff Hardin suggests tax-reduction strategies; defines required minimum distributions from retirement accounts; details developments in tax-related state law in California, Florida, Illinois and New York; and provides information on making tax-free gifts to children and grandchildren.

Recent cases of misappropriation of client funds, breaches of fiduciary duty, theft and bankruptcy filings underscore the importance of qualifying one's 1031 qualified intermediary. This article from Strategic Exchange Advisors includes information of interest to any investor with real estate holdings in the United States.

The answer to whether to establish a Roth account or to roll over a traditional retirement account to a Roth is not always obvious because of the upfront tax cost associated with the Roth. Whether an individual reaps an offsetting benefit will depend on how long money remains in the account, the tax rates in effect when it is withdrawn and how the investments perform.

Meeting significant charitable goals efficiently creates a disproportionate need for the characteristics inherent in liquid, public securities. Increasing the allocation to liquid asset classes from 29% to 75% on a tax-managed basis can generate comparable returns to the endowment model after taxes while maintaining the flexibility needed to handle cash flow interruptions and changes in markets, tax regimens and personal goals.

With short-term interest rates currently near zero, this may be a good time to consider using intra-family loans, grantor retained annuity trusts and sales to intentionally defective grantor trusts.

Low interest rates are certainly disheartening for investors looking for income, but they also drive down key rates used in estate planning – a great benefit to those looking for low or no tax techniques for transferring wealth to family members. It is unlikely, however, that these rates will remain as low as they currently are.

Designed to exist perpetually, promote family values and provide a substantial legacy, a dynasty trust takes the greatest possible advantage of a donor's gift tax and generation-skipping transfer tax exemptions. The trust property and the appreciation on that property remain in trust out of the family's successive estates. However, the flexibility of many dynasty trust state laws allows for the termination of the trust, if that were desired.