On October 21st, Partner Carolyn Reers and Associate Mi-Hae Russo published two Practice Notes titled, Estate Planning and Foreign Trusts and Foreign Trust Tax Consequences Checklist.
Estate Planning Considerations for Non-U.S. Citizen Spouses
Estate planning can require extra care and effort where one spouse is not a U.S. citizen. The same can be said for couples who live, work, or own property in the U.S. but neither is a U.S. citizen. These couples should be well-advised in preparing an estate plan to minimize the potential application of U.S.
3 Key Strategies for Funding Educational Expenses
Updated September 2025
Clients often ask us how to plan for educational expenses for their children or grandchildren.
According to the College Savings Plans Network, at an inflation rate of 6%, it will cost about $276,954.00 to send a child who is currently a toddler to an in-state, public college for four years, inclusive of
Estate Planning and Divorce: Lessons from In re E. Earl Lyden Trust
Highlighted by Lyden v. Lyden (In re E. Earl Lyden Trust)
In early April, the Michigan Court of Appeals issued an opinion in the case of In re E. Earl Lyden Trust, which highlights the importance of a comprehensive review of the estate plan during the pendency of a divorce.
Background of Case
Denice
Ep. 34 – Speaker Series: Prenups – Protecting Your Assets Before Saying “I Do”
With our second episode in our speaker series, Helen Heintz dives into the increasingly common practice of drafting prenuptial agreements. Highlighting the evolution of her clientele over nearly two decades, Helen outlines the shift towards safeguarding inherited wealth in first and second marriages—primarily driven by concerned parents wanting to protect assets for their children. Helen
Preserving Your Legacy: Estate Tax Deferral for Closely Held Businesses
One of the challenges facing owners of closely held businesses is how to preserve their business legacy in the event of their death. The federal estate tax, which applies to estates exceeding $13.61 million in 2024, can pose a significant financial burden on the heirs of business owners, especially if the estate (i.e., the taxpayer)
Executor and Trustee Selection
Who should I nominate as the Executor of my Will? Who should be the Trustee of my Trust? Should the Executor and Trustee be the same person? Should I nominate my children? Can I name multiple people in these roles? What if I don’t have anyone appropriate to name?
These are questions that every estate
Estate Planning for College-Aged Children
This time of year, many parents with a college-aged child are squeezing in last-minute vacations, back to school shopping and other activities before their child returns to college or starts first semester. However, one component that is often overlooked is to ensure adult children have adequate estate planning in place to address their financial and
Five Reasons Why You Should Do Your Estate Plan
Pausing to reflect and consider a world without you — or a world with an impaired version of you — is not easy. It is also not easy for your loved ones. Implementing an estate plan is like handing a roadmap of your wishes to your friends and family when you are unable to speak
U.S. Income Taxation of Foreign Trusts – Beware!
In a previous Wiggin and Dana LLP advisory, we addressed what constitutes a “foreign trust” under the Internal Revenue Code (IRC).[1] We now explore the tax consequences of a foreign trust, as well as the differences between a foreign grantor trust and a foreign non-grantor trust.
There are many benefits of having