The following notable updates were posted on Leimberg for the week of February 15-21, 2015:

  • Jeff Scroggin & Michael Burns: Tangible Personal Property Is the Most Forgotten Part of an Estate Plan (Estate Planning Newsletter).  Conflicts over dispositions of personal property are endemic to all levels of wealth. Disposing of tangible personal property seems to be the most forgotten part of the average client’s estate plan. The failure to address the unique issues surrounding personal property has created significant problems and continuing conflicts for many families.
  • AFRs for March Announced (Estate Planning Newsletter).
  • Jim Weller & Foreign Trusts: Achieving Grantor Trust Status (Income Tax Newsletter).  A foreign non-grantor trust with U.S. beneficiaries can accumulate income, and absent U.S. source income, it can avoid U.S. income tax. However, one of the drawbacks of the accumulation of income is the potential of triggering the Throwback Rule. However, unlike U.S. trusts, the options available to achieve grantor trust status are much more limited for a foreign trust.”

See full Leimberg Reports at Leimberg Information Services.

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