B&M Client Alert governing a New Exit Tax and other "onerous provisions" in expatriation tax rules.
This article deals with the use of the Delaware Asset Protection Trust to save taxes, protect assets, protect estate planning vehicles and provide options for non-resident aliens.
This paper will examine ways to lessen six of the greatest risks to preserving and enjoying multigenerational wealth. These six risks are: concentrating your assets, overspending, overusing leverage, poor tax planning, not attending to liabilities, ignoring family governance
This article addresses the complex U.S. tax rules governing cross-border grant-making by private foundations.
In today's world, domestic asset protection trusts can be a useful planning tool. However, under certain circumstances can be subject to intense scrutiny. Holland+Knight defines and outlines the case for domestic asset protection trusts.
This article highlights the fact that most wealthy U.S. families customarily choose individuals rather than trust companies to serve as trustee, even for complex trusts holding very substantial assets and even though a family who can afford it now has the option of creating its own trust. The article also argues that reliance on individual trustees carries the risk that it depends on an unbroken line of succession from one 'wise' (competent, diligent) trustee to the next, with little or no transition time or cushion to adjust for unexpected events.
A discussion of pre-nuptial, post-nuptial or cohabitation agreements.
Through the evolution of the family journey, it’s clear that family structures have become more complex and estate planning needs to shift to a new model that focuses on multiple aspects of wealth.
One of the most important, yet most forgotten, parts of estate planning is keeping track of who will benefit from those assets, including life insurance, which are not governed by your will. Providing for your family includes knowing which types of assets are not governed by your will; ensuring your assets are going to where you want them to go; and keeping your beneficiary designations updated.
A new U.S. Supreme Court ruling in the Kaestner case means that more out-of-state residents will be able to fully realize the benefits of Tennessee's progressive trust laws and zero income tax on non-residents. Previously, many states relied on the residence of a trust beneficiary as one of the criteria for taxing a trust. In essence, the new ruling makes that criteria alone unconstitutional.