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
We are pleased to launch our speaker series, a break from the traditional podcast format, with our premier episode featuring Partner Vanessa Maczko who will detail where we are now with taxes and gifting, and where we are going. She discusses what is not a taxable gift and how to use your estate and gift
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
Jacob Koenig, Managing Director and Partner of Woodbridge International, sits down with Partners Erin Nicholls and Michael Clear to discuss his firm’s unique approach to selling companies, including their focus on marketing and their ability to reach an extensive network of well-vetted potential buyers. The conversation touches on current market conditions and the importance of
“I notice that your account does not have a beneficiary listed, would you like to list one now? Listing a beneficiary can avoid the expense and delay of probate.”
This is a question more and more of our clients are being asked (and encouraged to prepare) by representatives at financial institutions. However, for many of our
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
In the latest podcast episode, host Michael Clear introduces the “Future Focused: Private Wealth Insights” blog, a platform designed to help optimize and protect your financial future. Explore domestic and international estate planning strategies, tax optimization, and more, with regularly updated content to keep you informed about the latest trends and developments. Visit www.privatewealthinsights.com to
In what undoubtedly is welcome news to trustees of Connecticut irrevocable trusts, effective January 1, 2025, Connecticut will join the growing list of states that specifically authorize “decanting” the assets of an otherwise irrevocable trust into a new trust with improved terms. While most Connecticut practitioners believe that decanting has always been available under Connecticut
In an ever-evolving landscape, it’s crucial to audit an estate plan and ensure it keeps pace with your life. On this episode, Partners Erin Nicholls and Michael Clear dive into the importance of revisiting your estate plan, examining the impact of changes in asset levels, evolving inter-personal relationships, relocating to a new state, and changes
While historically high federal transfer tax exemptions remain in effect, the Spousal Lifetime Access Trust (“SLAT”) (also sometimes referred to as a Spousal Estate Reduction Trust, or “SERT”) remains one of the most effective planning techniques for married clients.