Preservation | Family Wealth Protection & Planning

Subscribe

Blog Editors

Topics

Archives

By Elizabeth Pack on October 3, 2019 at 10:10 AM

Graduation cap sitting on a pile of moneyAs the cost of college education has skyrocketed, more and more grandparents are wondering how they can help their grandchildren pay for college. Below is an overview of five ways in which grandparents can contribute toward a grandchild’s education, as well as tips on pitfalls to avoid.

Facebook Twitter LinkedIn Google+ Email
By Elizabeth Pack on September 19, 2019 at 2:45 PM

Jar of money and a jar labeled "Taxes"With the passage of the Tax Cuts and Jobs Act (TCJA) in December 2017, the nearly doubling of the lifetime estate and gift tax exemption (currently $11.4 million in 2019) shifted the focus for many from estate tax planning to income tax planning. A wide range of income tax planning techniques can now be used under the TCJA, and it is important to explore these income tax planning techniques as a part of the estate planning process.

Facebook Twitter LinkedIn Google+ Email
By Jeffrey Herman, Keith Herman on August 27, 2019 at 1:15 PM

Businessman holding hands above a piggybankRetirement accounts are a seemingly simple and effective way to protect assets from future creditors, but the subtle nuances of what is protected under Missouri law and what is protected in bankruptcy can be complex. In the July/August 2019 edition of the Journal of the Missouri Bar, attorneys Keith Herman and Jeffrey Herman analyze how you can use retirement accounts for asset protection and the potential loopholes to avoid.

Facebook Twitter LinkedIn Google+ Email
By Trusts & Estates Practice Group on August 20, 2019 at 2:45 PM

IRS releases AFRs for September 2019The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for September 2019. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Here are the rates for September 2019:

Facebook Twitter LinkedIn Google+ Email
By Jennifer Davis, Betty Schaefer on July 31, 2019 at 1:15 PM

College student carrying a backpackFor the parents of students entering college this fall, you may have a long checklist of to-do items already. It’s possible you are missing one of the most important items, though: Having your child sign estate planning documents.

Facebook Twitter LinkedIn Google+ Email
By Garrett Reuter, Jr., Leland Moloney on July 24, 2019 at 2:20 PM

Map of the Midwest highlighting the state of Illinois in redOn July 12, 2019, Illinois Gov. J.B. Pritzker signed House Bill HB1471, which enacts the Illinois Trust Code (ITC) and repeals many of Illinois’ current trust statutes. The ITC will be effective as of Jan. 1, 2020.

The ITC generally conforms with the Uniform Trust Code (UTC), a comprehensive codification of the common law on trusts, as drafted, published and recommended by the National Conference of Commissioners on Uniform State Laws. The UTC is designed as a template to establish uniform trust laws among states, including, but not limited to, the creation, validity and modification of trusts, rights of certain parties with respect to beneficial interests and creditors, trust administration, trusteeship and trustee powers.

Facebook Twitter LinkedIn Google+ Email
By Trusts & Estates Practice Group on July 19, 2019 at 9:00 AM

AFRs updateThe Internal Revenue Service has released the Applicable Federal Rates (AFRs) for August 2019. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Facebook Twitter LinkedIn Google+ Email
By Keith Grissom on July 8, 2019 at 3:10 PM

Dollar bill being stretchedOn May 23, 2019, the U.S. House of Representatives, by a vote of 417 to 3, passed legislation called Setting Every Community Up for Retirement Enhancement Act of 2019, or the SECURE Act. This legislation, if passed by the Senate and signed by the president, will cause significant changes for retirement planning, many of which are positive, but it also includes aspects that could have a big impact on estate planning.

Facebook Twitter LinkedIn Google+ Email
By Keith Grissom on June 28, 2019 at 11:30 AM

The word "tax" spelled out with wooden blocksOn June 21, 2019, the U.S. Supreme Court unanimously decided in favor of a taxpayer trust, finding that the state of North Carolina could not tax the trust merely because a trust beneficiary, who received no trust income or right to demand income, resided in North Carolina.

Facebook Twitter LinkedIn Google+ Email
By Trusts & Estates Practice Group on June 25, 2019 at 1:15 PM

IRS releases AFRs for July 2019The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for July 2019. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Here are the rates for July 2019:

Facebook Twitter LinkedIn Google+ Email

This website uses cookies to improve functionality and performance. If you choose to continue browsing this website, you consent to the use of cookies. Read our Privacy Policy here for details.