Preservation | Family Wealth Protection & Planning


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Posts in Trusts.
By Keith Grissom on October 15, 2021 at 12:30 PM

Wolters Kluwer has released projected 2022 figures for the gift tax annual exclusion amount as well as the estate and gift tax lifetime exemption amount. These figures were determined by Wolters Kluwer using formulas contained in the Internal Revenue Code. They are based on the increase in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for the 12-month period that ended August 31, 2021.

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By Keith Grissom on September 30, 2021 at 10:45 AM

On September 28, 2021, the House Budget Committee released a report that provides explanations with respect to certain provisions included in the proposed House bill called the Build Back Better Act (the “Report”).

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By Keith Grissom on September 15, 2021 at 10:15 AM

On Monday, September 13, 2021, the House Ways and Means Committee released the text for proposed tax changes to be incorporated in a budget reconciliation bill called the Build Back Better Act (the “Act”). The 881-page text includes several significant changes to income and transfer taxes that could drastically change estate, gift and individual income tax planning if made into law.

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By Jennifer Davis, Elizabeth Pack on October 20, 2020 at 1:30 PM

Wedding rings on pile of moneyThis is the eighth installment in a blog series on opportunities for tax planning in the current low-interest rate environment. Read our previous installments here.

A Spousal Lifetime Access Trust (SLAT) is a type of trust that provides an opportunity for the grantor of the trust to utilize his or her remaining estate and gift tax exemption while also allowing the grantor’s spouse to benefit from the assets transferred.

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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.

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By Keith Grissom on November 8, 2018 at 11:50 PM

One small, pink piggy bank next to a larger, white piggy bankRecent changes to Missouri law could make it easier for trustees to terminate “uneconomic” trusts.

Sometimes the cost of administration of an existing trust outweighs the justification for continuing to hold assets in the trust. This may be especially true if there is a corporate trustee and the beneficiaries have no estate tax, creditor, or divorce concerns. For such a situation, Missouri law provides a mechanism by which a trust may be terminated in the discretion of the trustee, without having to go to court, if the total value of trust property is under a certain dollar limit. If the total value of trust property is below the limit and the trustee concludes that the value of the trust property is insufficient to justify the cost of administration, the trustee may terminate the trust after providing notice to certain beneficiaries.

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