General Estate Planning - American College of Trust and Estate Counsel

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Tips for Joint Representation of Spouses (Part 2 of 2)

Podcast two of joint representation offers four more tips for lawyers and the red flags to watch out for as they ensure both spouses are represented equally.

Tips for Joint Representation of Spouses: Engagement Letters (Pt. 1 of 2)

Four tips practitioners need to keep in mind when providing joint representation to spouses and where to find sample attorney engagement letters.

Considerations for U.S. Owners of Canadian Real Property

Guidance for Americans purchasing real property in Canada, including tax traps, LLC and personal ownership considerations, non-resident prohibitions and more.

U.S. Tax Considerations When Buying Property Abroad

Expert guidance and best practices for estate and wealth advisors on tax planning for clients with real or vacation property in a foreign country or abroad.

Summary of Hot Trust & Estate Topics from 2022 and Early 2023

Estate planning experts review recent T&E cases, IRS rulings, SECURE Act 2.0, DAF and CRT cautions, and other recent developments impacting estate planners.

Civil Law Concepts in American Family and Inheritance Laws

A law professor shares ways civil and common law systems have influenced each other, particularly in matters relating to adoption, family and inheritance laws.

Supreme Court Rules on Bittner v. United States

Supreme Court ruling in Bittner v. United States, with input from ACTEC’s amicus brief, regarding the Bank Secrecy Act and Foreign Bank Account Reporting.

Lessons From Lisa Marie Presley’s Estate: Why Use a Corporate Trustee

Drama in the Estate of Lisa Marie Presley may be due to the absence of a corporate trustee. Understand the benefits of using an experienced corporate trustee.

The Importance of Treating Life Insurance as an Asset and Maximizing Value

Life insurance may be a client’s most valuable asset. Understand how to identify a policy’s value and sell it for other estate needs instead of letting it lapse.

Corporate Transparency: US Joins the Rest of The World

Update on Corporate Transparency Act final regulations: experts explain requirements by the reporting company, beneficial owner, and applicants.

Understanding and Managing the Rights of Lifetime Creditors Following Death

Estate planning attorneys discuss differences in legal traditions and post-mortem rules with creditors, probate, and trust administrations in different states.

Considerations in the Possible Liquidation of a Closely Held Entity and Other Alternatives (Pt. 4 of 4)

The final part of the Closely Held Entities series explores potential liquidation, including audit, valuation and tax issues, and where it may make sense not to liquidate.

The Administration of a Closely Held Entity (Pt. 3 of 4)

In part 3 of Closely Held Entities, estate planners examine critical issues as well as discuss conducting a lifetime stress test for those entities.

Formation of a Closely Held Entity (Part 2 of 4)

With part 2 of the Closely Held Entities, ACTEC’s trust and estate experts dig a bit deeper into issues of the formation of LLCs and limited partnerships.

An Illuminating Look at Closely Held Entities: Series Overview (Pt. 1 of 4)

Trust and estate experts introduce a 4-part podcast series on the main phases of the closely held entity: formation, administration, and possible liquidation.

Moving Your Firm to the Cloud

Lawyers share tips for planning and successfully moving your firm’s data and software to a cloud solution. Understand the benefits and risks in this podcast.

Supporting and Mentoring Female Estate Planning Attorneys

An experienced mentor and estate planning attorney offer tips on work-life balance, mentorship, and supporting women in trust and estate law.

Work-Life Balance: Recommendations for Attorneys

An attorney shares his recommendations for work-life balance and tips for setting boundaries, reducing stress, and setting an example for younger employees.

What You Need to Know About Authenticating Cross-Border Documents and the Importance of Electronic Apostilles (e-APP)

International estate planning experts explain ACTEC’s support of electronic apostilles, e-APPs, and the importance of apostilles to the trusts and estates practice.

Top 10 Recommendations for Planning Retirement Benefits under the SECURE Act

Planning for retirement benefits under the SECURE Act is complicated. Hear the top ten recommendations from a trust and estate expert when planning distributions.

ACTEC’s Comments on Section 2053 – Proposed Estate Tax Regulations

ACTEC comments on proposed regulations under IRS Code Section 2053, and the effects on estates seeking to deduct funeral and administrative expenses and loans.

The Corporate Transparency Act: The Clock Has Started

Learn what estate planners need to know about reporting requirements of the Corporate Transparency Act from FinCEN’s final rules issued on September 29, 2022.

Unconscionability of Premarital Agreements – Pt 2 of 2

An estate lawyer explores case disputes of premarital agreements, aka post-nuptial agreements, based on unconscionability under the Uniform Premarital Act.

Unconscionability of Premarital Agreements – Pt 1 of 2

An estate lawyer explains the Uniform Premarital Act and the limitations of premarital agreements, aka post-nuptial agreements, based on unconscionability.

When to Pursue a Trust Reformation Action, Thoughts in a UTC State

Understand ways to amend an irrevocable trust under the Uniform Trust Code (UTC), including a decanting transaction from a trust and estate expert.

Understanding Funding Agreements

Learn key elements that should be included in funding agreements including five essential recommendations to help them stand up to court scrutiny.

Migrating Clients from Common Law to Community Property States (and Vice-Versa)

Hear guidance for clients moving from a common law to a community property state, how to avoid common mistakes, and differences between community property states.

Cryptocurrency in Retirement Accounts

Can retirement accounts hold cryptocurrency? Guidance on what’s allowed, the legal uncertainties, risks and benefits of cryptocurrency in IRA and 401k accounts.

IRS Proposes Mortality Assumptions Update for Section 7520

Updated IRS mortality assumptions have arrived. An overview of the updated tables, how the numbers work, and actions to consider before regulations become final.

Paying and Reducing Estate Tax with a Graegin Loan

What is a Graegin loan? Learn how to use a Graegin loan to pay for and reduce estate tax when interest rates are high, and how to avoid Graegin loan missteps.

Estate Planning Opportunities in a Time of Rising Interest Rates

A trust and estate expert shares insights on opportunities available for planners and their clients during the current rising interest rate environment.

The Intersection of S Corps., ESBTs, California Tax and Beer

When it comes to trust planning, ESBTs, and S Corps, sometimes you can do everything right and still be subject to California Entity Tax.

Conflicts of Interest When Representing Fiduciaries

Tips for estate planners to avoid and understand potential conflicts of interest that can arise in representing fiduciaries.

Electronic Will Legislation in the US

A trust and estate expert advises extreme caution when using an e-will or electronic will. Understand why in this podcast.

Removal of Trustees

How do you remove a trustee? A review of what to expect, the standard of proof, grounds and the role of equity court determinations.

Navigating the Choppy Waters of Cross-Border Estate Administration

One will or two? The impacts of forced heirship on assets in civil law jurisdictions and benefits of EU Succession Regulation in cross-border estate planning.

The Calling of the Counselor in Counseling Families – Part 3 of 3

The conclusion of the 2022 Trachtman Memorial Lecture by Ron Aucutt, where he shares his wisdom and offers closing thoughts for estate counselors.

The Calling of the Counselor in Counseling Families – Part 2 of 3

Ron Aucutt shares his recommendations to trust and estate professionals on how to help clients nourish their family legacies in Part 2 of 3 of the Trachtman Lecture.

The Calling of the Counselor in Counseling Families – Part 1 of 3

Part 1 of 3 of 2022 Trachtman Memorial Lecture by Ron Aucutt, encouraging practitioners to help clients identify and build a legacy of shared family values.

The Calling of the Counselor in Counseling Families: Overview

A synopsis of the 2022 Trachtman Memorial Lecture by Ronald D. Aucutt, where he encourages practitioners and shares strategies to help clients identify and build a legacy.

2022 Hot Topics in Trust and Estate Law

An overview of proposed regulations to the SECURE Act, and the critical T&E tax court cases of Levin, Smaldino, and Connolly.

The Law, Professional Responsibility and the Future of T&E

Celebrating 200 podcasts, two ACTEC leaders discuss issues and forces shaping the future of the practice and the ability of practitioners to impact lives.

Mistakes Made in Premarital Agreements by Estate Planning and Family Law Lawyers

Estate planning and family law attorneys share what to be aware of and some pitfalls when drafting premarital agreements and prenups.

California Tax Trap and Residency for Trusts

Words of caution for trust fiduciaries, beneficiaries and residents; CA has liberal definitions of who is considered a resident and subjected to tax on trusts.

Understanding Rights of Publicity or Name, Image, Likeness (NIL)

An overview of publicity rights, property rights, name, image, likeness (NIL) and how they differ by states.

ACTEC Law Journal: Dedicated to Trust and Estate Topics for Nearly 50 Years

ACTEC Law Journal Editor shares insights on the publication process, the contributions of the student editors, and the importance of the journal to T&E law.

Estate Planning for Principals of Private Equity and Hedge Funds

Recommendations for what principals of investment strategies and what to keep in mind regarding carried interest of private equity and hedge funds.

Advising Transgender Clients on Estate Planning and Vital Records

“Advising Transgender Clients on Estate Planning and Vital Records,” that’s the subject of today's ACTEC Trust and Estate Talk. Transcript/Show Notes This is Natalie Perry, ACTEC Fellow from Chicago, Illinois. Transgender, or trans, people may decide to change their...

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