How Do You Select a Trustee?

Estate planning requires many decisions, not the least of which is whom to appoint as an agent to act under a health care surrogate and a durable power of attorney and whom to appoint as a  personal representative  and a trustee. How do you select these individuals? Take your time…

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Act Soon…Discounted Gifts Will Become Harder…

Individuals and their attorneys are very creative when planning to reduce estate taxes. One technique is to transfer an interest in a family owned family limited partnership (“FPL”),  at a discounted value,  to a family member while keeping the entity in the family. For example, Ed owns an interest in…

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Voiding of QTIP Election May Save Gift Taxes…

Instead of an outright distribution to a surviving spouse, estate planners often advise that assets be distributed to a qualified terminal interest property (“QTIP”) trust for the benefit of the surviving spouse. This planning occurs often in a second or third marriage. Upon the predeceasing spouse’s death, their estate receives a 100% marital deduction for…

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