Wealth Strategies Journal http://www.wealthstrategiesjournal.com Do More, Better, Faster Fri, 20 Jul 2018 14:47:08 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.7 69559287 Joint Committee on Tax’n Technical Explanation of Tax Cuts 2.0 – The “Taxpayer First Act Of 2018″ http://www.wealthstrategiesjournal.com/joint-committee-on-taxn-technical-explanation-of-tax-cuts-2-0-the-taxpayer-first-act-of-2018/ http://www.wealthstrategiesjournal.com/joint-committee-on-taxn-technical-explanation-of-tax-cuts-2-0-the-taxpayer-first-act-of-2018/#respond Fri, 20 Jul 2018 14:47:08 +0000 http://www.wealthstrategiesjournal.com/?p=6384 The Joint Committee on Taxation has released its explanation of the Tax Cuts 2.0 proposed legislation.

CCH is reporting that “House GOP tax writers are gearing up to release a Tax Cuts 2.0 outline next week. The legislative outline of House Republican tax proposals, also known on Capitol Hill as … Continue reading

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Samuel Bray: Fiduciary Remedies http://www.wealthstrategiesjournal.com/samuel-bray-fiduciary-remedies/ http://www.wealthstrategiesjournal.com/samuel-bray-fiduciary-remedies/#respond Thu, 19 Jul 2018 15:27:28 +0000 http://www.wealthstrategiesjournal.com/?p=6382 Samuel L. Bray, of Notre Dame Law School, has made available for download a chapter on “Fiduciary Remedies,” published in the Oxford Handbook of Fiduciary Law (E. Criddle, P. Miller & R. Sitkoff eds., Forthcoming 2018).   The Abstract is as follows:

This chapter offers an overview and analysis of fiduciary remedies. … Continue reading

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Herbert: Legislative Update: Virginia’s General Assembly Acts to Reduce Inconsistencies between Revocable Living Trusts and Wills http://www.wealthstrategiesjournal.com/herbert-legislative-update-virginias-general-assembly-acts-to-reduce-inconsistencies-between-revocable-living-trusts-and-wills/ http://www.wealthstrategiesjournal.com/herbert-legislative-update-virginias-general-assembly-acts-to-reduce-inconsistencies-between-revocable-living-trusts-and-wills/#respond Wed, 18 Jul 2018 14:42:26 +0000 http://www.wealthstrategiesjournal.com/?p=6380 Brett Herbert, at LeClairRyan, has published an article summarizing recent Virginia legislative changes applicable to revocable trusts.  His article begins as follows:

As more people elect to use revocable living trusts for estate planning purposes instead of traditional wills, the disposition of property will increasingly depend on the interpretation and … Continue reading

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Ausness: Discretionary Trusts: An Update http://www.wealthstrategiesjournal.com/ausness-discretionary-trusts-an-update/ http://www.wealthstrategiesjournal.com/ausness-discretionary-trusts-an-update/#respond Wed, 18 Jul 2018 14:35:39 +0000 http://www.wealthstrategiesjournal.com/?p=6375 Richard C. Ausness has made available for download his article, “Discretionary Trusts: An Update,” which was published in the ACTEC Law Journal.  The abstract is as follows:

In the past, settlors tended to limit a trustee’s discretion by setting forth a specific formula for the distribution of trust assets. Nowadays,

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Supreme Court – Sveen v. Melin: – Retroactive Application of Revocation on Divorce Clause Does Not Violate Constitution http://www.wealthstrategiesjournal.com/supreme-court-sveen-v-melin-retractive-application-of-revocation-on-divorce-clause-does-not-violate-constitution/ Mon, 11 Jun 2018 16:47:05 +0000 http://www.wealthstrategiesjournal.com/?p=6369 The Supreme Court, in Sveen v. Melin, that the retroactive application of Minnesota’s revocation-on-divorce statute — which automatically nullifies an ex-spouse’s beneficiary designation on a life-insurance policy or other will substitute — does not violate the Constitution’s contracts clause.

The opinion’s syllabus is as follows:

The legal system has long

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Edwin Brown: Is Jail Time the Nuclear Attack that Creditors have Against Offshore Asset Protection Trusts? http://www.wealthstrategiesjournal.com/edwin-brown-is-jail-time-the-nuclear-attack-that-creditors-have-against-offshore-asset-protection-trusts/ Thu, 07 Jun 2018 14:19:31 +0000 http://www.wealthstrategiesjournal.com/?p=6367 Edwin Brown, Greenspoon Marder, compares the risks to grantors of offshore asset protection trusts versus domestic asset protection trusts, focusing on FDIC v. Lewis, 2016 WL 589666.

His article begins as follows:

There has been a recent rash of discussions on whether foreign trusts are truly better for asset protection

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IRS Comments Requested On Draft Form 4422, Application for Certificate Discharging Property Subject to Estate Tax Lien,” and Form 15056, “Escrow Agreement for Estates” http://www.wealthstrategiesjournal.com/irs-comments-requested-on-draft-form-4422-application-for-certificate-discharging-property-subject-to-estate-tax-lien-and-form-15056-escrow-agreement-for-estates/ Wed, 06 Jun 2018 14:39:58 +0000 http://www.wealthstrategiesjournal.com/?p=6365 The IRS has requested comments on Form 4422, “Application for Certificate Discharging Property Subject to Estate Tax Lien,” and Form 15056, “Escrow Agreement for Estates.”

Comments are due by August 6.

See Federal Register notice by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.… Continue reading

Tax law: Why changes to the kiddie tax are a ‘big deal’ for advisers http://www.wealthstrategiesjournal.com/tax-law-why-changes-to-the-kiddie-tax-are-a-big-deal-for-advisers/ Wed, 06 Jun 2018 14:32:43 +0000 http://www.wealthstrategiesjournal.com/?p=6363 Investment News has an article on why the kiddie tax changes in the TCJA are a big deal for advisors.  The article begins as follows:

The new federal tax law made changes to the so-called “kiddie tax” that could impact how some advisers handle their clients’ financial plans.

While experts

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Lawrence A. Frolik http://www.wealthstrategiesjournal.com/lawrence-a-frolik/ Fri, 01 Jun 2018 06:07:58 +0000 http://www.wealthstrategiesjournal.com/?p=6357

Lawrence A. Frolik, John E. Murray Faculty Scholar and Professor of Law at the University of Pittsburgh School of Law, is a national expert on the legal issues facing older Americans. He is the author, co-author or editor of over a dozen books. He is the author of Elder Law … Continue reading

The Role of Elder Law Attorneys http://www.wealthstrategiesjournal.com/the-role-of-elder-law-attorneys/ Wed, 30 May 2018 14:05:31 +0000 http://www.wealthstrategiesjournal.com/?p=6355 By Lawrence A. Frolik

Many clients have heard of “Elder Law,” but not many are aware what it is or how an elder law attorney can help them. The short answer is that elder law attorneys help their clients with later life legal problems. Just as older clients have unique … Continue reading