A Life Insurance-Funded Redemption Agreement Gone Bad
The risks of life insurance-funded redemption agreements, the Connolly v. US case, and safer alternatives like cross-purchase agreements, life insurance LLCs.
Owner’s Liability Following a Minor’s Golf Cart Accident
Understand the risks of owning a golf cart, especially if minors are allowed to drive, and how to protect clients’ assets from accidents and lawsuits.
Huffman Case Endangers Buy-Sell Agreements
Lessons from Huffman v. Commissioner, when a son exercised an option to purchase stock from his parents, ignoring a buy-sell agreement in the family business.
The ACTEC Foundation Announces the 2024–2026 Dennis I. Belcher Young Leaders
FOR IMMEDIATE RELEASEContact: Rebecca Vandall, Rebecca.Vandall@actec.org, 202.465.8270 Washington, DC, October 3, 2024: John T. Rogers, Jr., President of The ACTEC Foundation, and Stacy E. Singer, Chair of the ACTEC Diversity, Equity & Inclusivity Committee, are...
Caution for Divorcing Spouses Who Are Trust Beneficiaries
Takeaways from the 2023 Massachusetts divorce case, Jones v. Jones, for parents who support their married children may diminish trust assets in a divorce.
Modifying Trusts after CCA 202352018
A T&E expert reviews CCA 202352018’s true scope, how it affects designing trusts when drafting, and some considerations when modifying trusts.
Planning for the Young Under SECURE
An overview for professionals advising clients about leaving IRA assets to beneficiaries that have not reached majority, such as minors and young adults.
ACTEC 2024 Fall Meeting Newsletter
Get the update on the Trust and Succession Law Workshop, Call to Action regarding the NexGen Bar Exam, Young Leaders and more.
Self-Employment Tax: Tax Court Curtails Limited Partner Exclusion
Strategies for limited partnerships and S corporations to minimize self-employment tax and net investment income tax following a 2023 tax court decision.
Restricted Charitable Gifts: Practical Suggestions
Estate planners share legal considerations, strategies and advice for donors and charities to address restricted charitable gifts, UPMIFA, and UTC states.
Addressing Incomplete or Lost Records During Fiduciary Administration
A discussion on fiduciary record-keeping, covering best practices, legal implications, and strategies for addressing incomplete or lost trust and estate records.
Fiduciary Income Tax Planning of Distributions In-Kind and Specific Bequests
An overview for fiduciaries when distributing property to a beneficiary, in cash or in-kind, and the tax considerations, consequences and planning strategies.
Powers of Appointment Gone Wrong
A discussion by estate planning litigators of what trustees need to know when problems arise with the exercise of powers of appointment.
Charitable Deductions and Section 642(c)
Details for tax planners regarding the requirements for an estate to qualify for an income tax charitable deduction under IRS Code Section 642(c).
FTC’s Ban on Noncompete Agreements
An attorney discusses the April 23rd, 2024, Federal Trade Commission (FTC) ruling on noncompete agreements and how to advise business owners and clients.
The NextGen Bar Exam Threat to Wills and Trusts
ACTEC shares concerns about NCBE removal of wills & trusts from the NextGen Bar Exam and the impact on families, businesses, seniors, and generational wealth.
The Ethics of Posting to Listservs
The practical implications of ABA Formal Opinion 511, which highlights ethical concerns about requesting advice from colleagues on a client matter.
The Virtues of Estate Planning & Estate Planners Part 3 of 3: Essential Virtues of the Estate Planning Professional
Turney Berry concludes his lecture with the importance of mentorship, community engagement, and diversity in thought and professional organizations.
The Virtues of Estate Planning & Estate Planners Part 2 of 3: Estate Planning’s Role in Civilization
In part 2 of Turney Berry’s lecture, he discusses the importance of estate planning in civilization and why diversity of experience is critical to the profession.
The Virtues of Estate Planning & Estate Planners Part 1 of 3: Estate Planning—A Job or a Calling?
A trust and estate lawyer ponders whether estate planning is more than the orderly transmission of wealth in all forms among the generations or something more.
The Virtues of Estate Planning & Estate Planners: Overview
ACTEC Fellow Turney Berry offers an overview on his lecture on estate planning’s critical role in civilization and the importance of diverse perspectives.
ACTEC Foundation 2024 Summer Meeting Newsletter
Get the update on The ACTEC Foundation’s financial health and compelling projects, including the Longest Drive Challenge and student writing competition.
Impact of the End of the COVID Public Health Emergency on Medicaid Renewals
Practical information for professionals explaining the connection between the COVID Public Health Emergency Declaration, Medicaid, and Special Needs Trusts.
Deadly Claims in Trust and Estate Law
Estate planner discusses evolving novel claims in trust and estate law, highlighting 7 main claims, including pre-death will contests and tortious interference.
Planning Ahead for the Sunsetting of the Tax Cuts and Jobs Act Exemptions
Estate planners discuss strategies anticipating the 2025 sunset of the TCJA exemptions, highlighting flexible trusts, spousal trusts, and valuation clauses.
ACTEC Foundation Longest Drive Challenge: Final Results
Thanks to the generous contributions of ACTEC Fellows, The Foundation has surpassed its fundraising goal of $35,000, raising over $44,000!
Estate Planning in 2024
Explore hot topics in estate planning for 2024 with expert as he delves into CCA 202352018, grantor trusts, gift tax implications, and QTIPs.
ACTEC Foundation Longest Drive Challenge – Week 3 Update
Round 3 Results (As of May 14 at 5:00 PM ET) First Place: Dana "Fitzy" FitzsimonsSecond Place: Stephanie "Longdriver" TuthillThird Place: Liz "Hit-It-n-Hunt-It" Hutchins "Fitzy" Fitzsimons eagled another hole, raising $3,850 in Round 3! To date, he has raised a total...
Tips Regarding Fiduciary Disputes and Estate Planning
Examining fiduciary disputes in estate planning through case studies, highlighting lessons learned for litigators and planners.
ACTEC Foundation Longest Drive Challenge – Week 2 Update
The 2024 ACTEC Foundation Longest Drive Challenge has raised over $14,125 to benefit the Foundation! Support the virtual gofers today.
The New Undue Influence
Law professors discuss the evolving landscape of undue influence in estate law, analyzing economic dynamics, legislative changes, and empirical findings.
ACTEC Foundation Longest Drive Challenge – Week 1 Update
Round 1 Results (As of May 1 at 5:00 pm ET) The 2024 ACTEC Foundation Longest Drive Challenge opened last week. Eight golfers, each representing an ACTEC region, are on the links and have raised over $9,250 to benefit The ACTEC Foundation! The Winner of Round One...
Government Regulation of Artificial Intelligence
Rapid growth of AI demands government regulation to safeguard against misuse of private data. Global efforts are underway to address this critical issue.
The 2024 ACTEC Foundation Longest Drive Challenge
In celebration of ACTEC’s 75th Anniversary, the winning golfer of the Longest Drive Challenge will claim the honorary ACTEC 75th Green Jacket. Donate today!
AI-Related Practice Management Considerations for Law Firms
A discussion for law firms about how to incorporate AI in their practice management, including staff considerations, the “billable hour,” and more.
Use of Artificial Intelligence (AI) in Creating an Estate Plan
Discover the pros and cons of using AI in estate planning with Professor Gerry Beyer and attorney, Natalie Perry. Learn why expert legal advice is crucial.
The Ethical Use of Artificial Intelligence in Trust & Estate Law
A law professor offers insights into the risks, rewards, duties and ethical considerations of lawyers using AI in their T&E practices.
The ACTEC Foundation Announces Six New Directors
The ACTEC Foundation announced that six ACTEC Fellows were elected to The Foundation’s Board of Directors during ACTEC’s 2024 Annual Meeting.
What Is Artificial Intelligence and the Impact on T&E Law in 2024 and Beyond?
A primer on the types and uses of AI, then a deeper dive into the impact on trust and estate law from types to applications to ethical considerations.
Request for Proposals for 2025-2026 Academic Symposium
ACTEC Legal Education Committee requests proposals for a $20,000 grant to host an academic symposium on trust and estate law during the 2025-2026 academic year.
The IRS Ruling on Modifying a Grantor Trust
Explore the gift tax implications for trust beneficiaries modifying grantor trusts in IRS CCA 202352018, with nuanced analysis and estate planning insights.
The New Normal for Charitable Tax Planning
Exploring crucial aspects of charitable tax planning: contemporaneous written acknowledgments, qualified appraisals, and anticipatory assignment of income.
The Dissatisfied Heir
by ACTEC Fellows Elizabeth K. Arias and Jean Gordon Carter In the realm of inheritance disputes, ACTEC Fellows answer a critical question: Can one sue if excluded from a family member's will? Understand who is generally guaranteed the right to inherit. The paramount...
A Discussion of Ante-Mortem Probate
A law professor discusses updates in ante-mortem probate, aka pre-mortem probate, exploring benefits, risks, and state procedures in the evolving legal terrain.
Tips for Preparing a Federal Estate Tax Return
An estate expert offers tips to professionals preparing a Federal Estate Tax Return, form 706, such as adjustable taxable gifts, real property, and more.
Client Restrictions on Charitable Gifts
Expert trust and estate advice and insights regarding restrictions for charitable gifts, managing donor intent, and the institution’s considerations.
Conflicts of Interest in T&E Litigation
Exploring conflicts of interest in trust and estate litigation, from joint representations to multi-generational complexities, navigating ethical challenges.
ACTEC Foundation 2024 Annual Meeting Newsletter
Help spread the news about the incredible work of The ACTEC Foundation and its grants supporting student writing, publications, young leaders and more!
A Trustee’s Duty to Minimize State Income Tax
Navigating a trustee’s duty to minimize state income taxes entails legal, practical, and moral considerations, ensuring fiduciary obligations are met.
The ACTEC Foundation Announces the 2023–2025 Dennis I. Belcher Young Leaders
The ACTEC College & ACTEC Foundation are pleased to announce the Ninth Class of Dennis I. Belcher Young Leaders.
Navigating Unique Issues in the Settlement of Trust and Estate Disputes
Explore the complexities of settling trust & estate disputes, from representing unrepresented parties to recent legal cases.
Tips for Dealing With and Drafting for Clients With Diminished Capacity
Legal recommendations for estate planners handling clients with diminishing capacity, including ethical considerations, POAs, trust planning, and more.
Practical Considerations in Dealing with Incapacity
Estate planners discuss avoiding adult guardianships, assessing capacity, transitioning trustees, and addressing challenges in planning and litigation.
Considerations for the Two Weeks Following Death
Practical expert guidance on estate planning for the two-week post-death period, including burial directives and laws, probate venue issues, and not rushing.
Deathbed Planning for the Two Weeks Prior to Death
Expert estate legal guidance on the two weeks before a client’s death: from information gathering to tax considerations, probate avoidance, and gifting.
AI and Trust and Estate Law: The Future Is Here to Stay
A law professor explores the transformative impact of AI in trust and estate Law, delving into ethics, challenges, tips, and trends shaping legal practices.
The Opportunity Zones Transparency, Extension, and Improvement Act
An overview of the Opportunity Zones Transparency Extension and Improvement Act, bipartisan legislation (HR 5761) in the U.S. House of Representatives.
Interacting With Clients and Beneficiaries When Determining Incapacity
Exploring complexities in estate planning for incapacitated clients and beneficiaries, client communication, trust administration, and drafting considerations.
Charitable Giving Tips & Tricks
A primer on donations, including tax considerations, donating stocks vs. cash, “bunching” donations, donor-advised funds (DAF), and more.
Steps a Lawyer Can Take to Identify, Understand, and Deal With a Client With Diminishing Capacity
Exploring legal responsibilities in identifying and managing client diminishing capacity, from cognitive decline to ethical considerations in legal practice.
Professional Responsibility Rules When Dealing With Clients Who Have Diminished Capacity
Law professor explores legal ethics of representing diminished capacity clients: insights on Model Rule 1.14, conflicts, confidentiality, and protective action.
Artificial Intelligence (AI) and Planning Your Estate
Estate planning attorneys explain what consumers should be aware of when using AI and what their lawyer’s professional responsibilities should include.
Conflicts That Arise After Retention of a Client
Estate planning attorneys delve into examples of ethical dilemmas in client confidentiality amidst conflicts, exploring the legal cases and responsibilities.
Giving Tuesday
Consider supporting The ACTEC Foundation on Giving Tuesday. Your donations support trust and estate education and the profession.
The Hoensheid Case and the Assignment of Business Income for a Sale
A review of the Tax Court’s decision In the Hoensheild case on how a business’s income assignment may be treated during the sale of a company and legal nuances.
Pitfalls of Pay on Death (POD) Accounts
An explanation of how Pay on Death (POD) accounts, aka TOD or Totten Trust, work and what account owners should be aware of before identifying a beneficiary.
Power Tools for Choice of Law on Trust Validity
Exploring choice of law challenges in trust validity, including issues arising from powers of appointment, with insights from legal experts.
The Ethics and Future of Practicing Law Remotely
Explore the best tips for practicing law remotely, ethical duties, work trends and tips post-COVID, with 87% of lawyers now working remotely.
Surprising Tax on Distributions From a Partnership
Explanation of the Tax Court’s ruling in Clark Raymond & Co. v. Comm’r and their book of business distributions after the termination of a partnership.
ACTEC Foundation 2023 Fall Newsletter
Learn the latest news from The ACTEC Foundation including student writing competition winners, newly elected Young Leaders, and more.
Estate Planning for Freelancers and the Gig Economy
Explore estate planning for freelancers and gig workers. Learn about tax planning, creating a will, asset management, planning for incapacity, and more.
US Estate Tax Tips for Non-US Persons and Their Advisors
In this valuable discussion, learn about U.S. estate tax for non-U.S. persons, filing requirements, taxable assets, transfer certificates, and treaty benefits.
ACTEC/Tulane Symposium on Conflict of Laws in Trusts and Estates
The Tulane Law Review presents articles from the Symposium on Conflict of Laws in Trusts and Estates, held on October 21, 2022, made possible with support of The ACTEC Foundation.
Drafting with Consideration of Foreign Trust Registration
An estate planning expert explains the complexities of US trustees dealing with foreign trust registration, the Corporate Transparency Act, and drafting strategies.
The IRS is Here to Help: How Does That Happen?
T&E experts offer recommendations regarding IRS guidance: Private Letter Rulings (PLRs), Technical Advice Memorandums (TAMs), and Chief Counsel Advice (CCAs).
The Dangers of Deferring Estate Tax
Explore the risks of deferring estate tax, including secret IRS liens, credit implications, and alternatives with insights from ACTEC experts.
Winners of the 2023 Mary Moers Wenig Student Writing Competition
ACTEC and The ACTEC Foundation are pleased to announce the winners of the 2023 Mary Moers Wenig Student Writing Competition.
Tangible Personal Property in Estate Planning
Experts explain why you’ll want to add provisions regarding tangible personal property, such as furniture, vehicles, electronics, and jewelry, to your will or trust.
Impact of the Connelly v. United States Decision
An estate planning attorney discusses the implications of Connelly v. US, buy-sell agreement, valuation of life insurance proceeds, Section 2703, and more.
A New Decision on Adequate Disclosure of Gifts
Understand the taxpayer victory and tax court decision in Schlapfer v. Comm’r that strict compliance with adequate disclosure regulations may not be necessary.
The Intersection of Well-Being and Trust Planning
T&E practitioners are introducing Well-Being theory into estate planning by encouraging clients to add Well-Being provisions into the drafting process.
Funding Your Revocable Trust and Other Critical Steps
Learn why funding your trust is vital for seamless asset transfer, minimizing legal issues and taxes, and safeguarding your beneficiaries’ future in this video.
Practical Considerations in Representing the (Un)Happily Married (Pt. 3 of 3)
An estate lawyer discusses tax traps, creative planning techniques, and practice tips for situations when trusts may be on the divorce balance sheet. Pt. 3 of 3
Practical Considerations in Representing the (Un)Happily Married (Pt. 2 of 3)
An estate lawyer shares how to analyze if trust assets might be on the table in divorce and how to review the history of the trust administration. Pt. 2 of 3
Practical Considerations in Representing the (Un)Happily Married (Pt. 1 of 3)
An estate lawyer offers eight questions to ask clients about trust assets to see what is vulnerable in divorce in Part 1 of 3 of this topic.
Should I Serve as a Healthcare Agent Under a Power of Attorney (POA)?
Understand what you need to know about accepting the legal responsibility of a healthcare agent, aka a healthcare surrogate or healthcare proxy.
Considerations for Nonprofits in Accepting Crypto Donations
Estate planning and banking investment professionals explain what nonprofits need to understand before accepting donations of cryptocurrency, crypto.
Best Practices for Virtual Court and Legal Proceedings
A litigation expert offers best practices for virtual hearings, online legal proceedings and guidance for navigating this relatively new environment.
Tips for Winding Up Charitable Entities
What happens to charities upon the death of a founder, or is deemed a risk by those in control? Estate planners share tips for winding down charitable entities.
Should I Serve as an Agent Under a Financial Power of Attorney (POA)?
Understand what’s involved in the role of a property or financial Power of Attorney (POA), what’s entailed, and what questions you should ask yourself.
SECURE Act 2.0 and Charitable Remainder Trusts
A legal scholar explains a new law allowing IRA owners to transfer up to $50,000 directly to a charitable gift annuity or Charitable Remainder Trust.
Directed Trusts Laws and Related Uniformed Acts
Uniform Directed Trust Act in action. A review of the act enacted in 16 states, the latest on directed trusts from the perspective of trustee, planner, and litigator.
QSBS Planning and Potential Pitfalls
A legal expert in QSBS, Qualified Small Business Stock, explains the planning opportunities, what advisors need to know, redemption, and adding it to an estate.
Should I Serve as a Trustee?
Attorneys explain the responsibilities and risks of being a trustee of a trust, a role that involves significant legal and ethical obligations.
The Complexity of Dealing with a Holographic eWill
A trust and estate expert shares the interesting case of a holographic eWill in Mississippi written in the testator’s handwriting on an iPad.
The ACTEC Foundation 2023 Summer Newsletter
The ACTEC Foundation President shares an update on activities, including the Mary Moers Wenig Student Writing Competition and successful Spring Fundraiser.
Understanding the Kittler eWill Case in Pennsylvania
A Pennsylvania Fellows explains the issue of the case of Susan Kittler, who, during COVID in 2021, drafted a will and executed it using an electronic signature.
Recent IRS Challenges to Grantor Retained Annuity Trusts (GRAT)
An overview of two recent IRS cases regarding Granter Retained Annuity Trusts, GRAT, the significance of the cases for estate planners and the IRS rulings.
Should I Serve as an Executor?
Estate attorneys explain what individuals need to understand before agreeing to serve as an estate executor, such as probate, tax, and legal requirements.
Patagonia Purpose Trusts
The founder of Patagonia clothing transferred $3B of stock to a Purpose Trust. What is a Purpose Trust and how does it meet Patagonia’s corporate objectives?