On this episode, join Partners Erin Nicholls and Michael Clear as they discuss mechanisms we have at our disposal to “fix” an irrevocable trust. The use of decanting, which is traditionally thought of as moving all the assets of one trust to a new trust, is one such mechanism. With the adoption of the Uniform
On this episode, join Partners Erin Nicholls and Michael Clear as they discuss key considerations when addressing Generation-Skipping Transfer (GST) Tax. With a particular focus on interesting planning opportunities and things to look out for when addressing GST tax, Erin and Michael emphasize the importance of thinking strategically about GST tax and its effects on
On this episode, join Partners Erin Nicholls and Michael Clear as they delve deeper into a discussion on creating SLATs for married clients to use up both clients’ lifetime exemption amounts, while also reducing the likelihood of the imposition of the Reciprocal Trust Doctrine by the IRS. Citing several examples, Erin and Michael provide strategies
On this episode, join Partners Erin Nicholls and Michael Clear as they discuss one of the hottest topics in the estate planning world, spousal lifetime access trusts (SLATs), and the implications of using SLATs in a post-Tax Cuts and Jobs Act world. Focusing primarily on maximizing the use of one’s lifetime exemption amount and removing
On this episode, join Partners Erin Nicholls and Michael Clear as they dispel some of the common misconceptions related to trust planning and delve into the three reasons why trust planning is important for many clients. With an understanding that most clients do not want to “rule from the grave,” Erin and Michael highlight the