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
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.
Congratulations, you just signed your Will and your Revocable Trust. You set out clear directions on how your assets should pass at your death. Your heirs will be grateful. But there is more you can do to ease the burden of estate administration – you can fund your Revocable Trust while you are alive. Set
A directed trust is a sophisticated planning technique that divides the traditional duties of a trustee among more than one person or institution. Unlike a standard trust with multiple co-trustees, all of whom would share the same duties, a directed trust makes each “trust director” responsible for a different type of task on behalf of
Life insurance can be a valuable estate planning tool for generational wealth planning, creating liquidity and time diversification. On this week’s episode, Michael Clear and special guest Sarah Moore, Director of Advisor Relations at the Coyle Company, a firm that handles estate planning and business planning matters, discuss the importance of reviewing existing life insurance
Ready to kick off the New Year and make good on all those estate planning resolutions? On this first episode of 2024, Partners Erin Nicholls and Michael Clear highlight the estate planning opportunities resulting from changes in estate, gift and generation-skipping tax exemptions and discuss why 2024 is a good year to consider making big