Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to understand the impact that the taxes imposed by the individual’s state of residence have on the plan as well as the character and type of assets allowed by the state. Estate Planning is complex and requires an expert in these matters to advise clients properly. My friend and colleague Tereina Stidd, … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part I

Once again the IRS has published is list of “Dirty Dozen” tax schemes. Many of these schemes  involve fraudsters looking for ways to steal taxpayers’ money, personal information, and data. Attorneys can help their clients by alerting them to these scams and providing advice on how to avoid them. My friend and colleague Tereina Stidd, an estate planning expert, reviews the latest scams.  Read on to learn more. … [Read more...] about The IRS’ Annual Warning: The 2023 Dirty Dozen

Revocable Trusts offer many great benefits for the grantor and the beneficiaries both during life and after death. Grantors or creators of the trust retain the right to amend, revoke, alter, or change the trust during their lifetime. Well-written trusts contain explicit directions regarding how the change needs to occur. A recent Michigan case explores what happens when a trust lacks that clarity. My friend and colleague Tereina Stidd, an estate planning expert, reviews this key case.  Read on … [Read more...] about Should In Re Gregory Hall Trust Change the Way We Think About Amending Trusts?

Disclaimers are an effective Estate Planning tool for the Trust and Estate Practitioner. They allow the disclaimant to alter an Estate Plan if they follow the statutory requirements exactly. Disclaimers can be tricky but when used correctly, achieve great results for a client. My friend and colleague Tereina Stidd, an estate planning expert, has some thoughts on the topic. Read on to learn more. … [Read more...] about What It Means to Disclaim