Tag Archives: Estate Planning

Greenberg Traurig’s Todd Steinberg Quoted in Forbes

Greenberg Traurig Shareholder, Todd Steinberg, was recently quoted in Forbes where he discusses, in particular, the estate tax repeal. The article is in response to recently issued bill, H.R.1, the Tax Cuts and Jobs Acts, and addresses the potential legislative tax law changes on the horizon.  Steinberg reminds readers this is proposed legislation and there … Continue Reading

Making Final Arrangements for Funerals and Dispositions of Remains

Unlike Halloween, funeral arrangements shouldn’t be a spooky mysterious process. If your wishes are not specified in writing, how will your family and friends know your ideal ultimate resting place? To avoid confusion and added stress in a time of grief and mourning, as much of the desired funeral and burial/cremation arrangements should be made … Continue Reading

State Law on After-born Children Leads to Revocation of a Will

State statutes play an essential role in drafting estate planning documents, especially a will.  In some states, the birth of a child after the execution of a will may result in the revocation of the will, if not carefully drafted.  A recent Georgia case, Hobbs v. Winfield, 2017 WL 4017935 (Ga. 2017), emphasizes the importance … Continue Reading

What Happens to My Social Media Accounts When I’m Gone?

When working on their legacy plan, most individuals focus on their finances and real and personal property.  However, over the past few years and the rise of social media, many of our prized memories and photographs are now stored online – Facebook, Instagram, Google, Twitter, and so on.  Each social media company has its own set … Continue Reading

President Barack Obama Signs New Legislation Regarding Special Needs Trusts

On Dec. 13, 2016, President Barack Obama signed the 21st Century Cures Act (Act) allowing individuals to create their own self-settled special or supplemental needs trust (SNT), without having to go to court. [1] Prior to enactment of this new law, disabled individuals who did not have a living parent or grandparent (or did not … Continue Reading

Trusts Can Provide Benefits Even for the Most Financially Savvy

In planning for the next generation, many parents struggle with the decision of whether to transfer property to their children outright or in trust.  Some feel that transferring property outright is the best option when the beneficiary is competent (i.e., mature, intelligent, financially savvy, and capable of managing money and making investment decisions).  A beneficiary … Continue Reading

Treasury Department Issues Proposed Regulations That Will Dramatically Reduce Valuation Discounts

On Aug. 2, 2016, the Treasury Department issued proposed regulations under Section 2704 of the Internal Revenue Code that, if finalized in their present form, would substantially alter the valuation of transfers of interests in family-controlled entities (including corporations, partnerships, and LLCs) for estate, gift and generation-skipping transfer tax purposes. To read the full GT … Continue Reading

Portability of the Estate and Gift Tax Exclusion – How Does it Work?

Portability refers to the ability of a surviving spouse, to make use of a deceased spouse’s unused estate tax exclusion amount (DSUE amount).  Portability was intended to simplify estate planning for married couples by eliminating the need for a bypass trust.  However, in order to preserve the DSUE amount the surviving spouse must comply with … Continue Reading

When a Fiduciary is Personally Liable for Unpaid Taxes

Although many people name family and friends as trustees or personal representatives in their legacy plan, it’s probably safe to assume that the people being appointed don’t have an understanding of the high level of responsibility inherent in carrying out their fiduciary duties.  One of the greatest fiduciary responsibilities is payment of a trust’s or … Continue Reading

Greenberg Traurig Webinar – What’s Trending?

Greenberg Traurig Tax & Business Group attorneys, Jonathan Forster and Todd Steinberg, hosted a webinar on important recent developments in the estate planning marketplace.  Forster and Steinberg reviewed the latest on the Morrissette case (the very first reported generational split dollar tax court case), the settlement of Woelbing (the latest seminal case involving installment sales to grantor trusts), … Continue Reading

Greenberg Traurig Presents At The AALU Annual Meeting During The Washington Report Marketplace LIVE! Session

Greenberg Traurig attorneys Jonathan Forster, Rebecca Manicone, and Richard Sirus presented today at the Association of Advanced Life Underwriting (AALU) Annual Meeting in Washington D.C.  Roughly 900 members and guests attended this session to listen to Forster, Manicone, and Sirus provide a review of hot estate planning and employee benefits topics from popular WRMarketplace reports.  … Continue Reading

Greenberg Traurig Presenting At The Annual Association For Advanced Life Underwriting (AALU) Annual Meeting

Greenberg Traurig attorneys Jonathan Forster, Rebecca Manicone and Richard Sirus will present at the Association of Advanced Life Underwriting (AALU) Annual Meeting during the Washington Report Marketplace LIVE! Session on Monday, May 2, 2016 between 1:00 pm and 2:00 pm on the main stage.   Forster, Manicone and Sirus will review hot estate planning and employee … Continue Reading

Greenberg Traurig Webinar – 2016 Heckerling Institute on Estate Planning: Key Take-Aways

Greenberg Traurig Tax & Business Group attorneys Jonathan Forster and Todd Steinberg, along with AALU Director of Public Policy, David Hollingsworth, hosted the 2016 Heckerling Institute on Estate Planning webinar.  Hollingsworth provided the political and legislative update and discussed the challenges facing the insurance industry. Forster discussed what is trending  in the marketplace, including rising interest … Continue Reading
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