by Arthur Geffen | Jan 4, 2023 | Charitable Gifts, Trusts
Every taxpayer’s financial situation is unique, and some donors may be looking for a more sophisticated approach to charitable giving. A charitable remainder trust (“CRT”) can be an effective tool for accomplishing your philanthropic goals while also creating a source...
by Arthur Geffen | Apr 28, 2022 | Income Tax, Trusts
The temporarily doubled gift, estate, and generation-skipping transfer tax exemption has resulted in the creation of many new irrevocable trusts. Some of these are grantor trusts, and thus the grantor continues to pay the income tax on the trust income. However,...
by Arthur Geffen | Nov 12, 2020 | Estate Lawyer, Estate Planning, Estate Planning Solutions, tr, Trusts
Spousal lifetime access trust, or SLAT, planning can provide powerful estate and tax planning opportunities – and perhaps one of the most popular techniques for married couples for the foreseeable future given the possible changes in the law post-election and to help...
by Arthur Geffen | Jan 17, 2019 | Income Tax, Trusts
The U.S. Supreme Court has announced it will hear a trust tax case that has significant implications for states and trust beneficiaries: Hundreds of millions of dollars of annual tax revenue hang in the balance. “It’s a big development,” says Carol Harrington,...
by Arthur Geffen | Mar 21, 2016 | Estate Planning, Trusts
Bypass trusts, or B trusts, have long been used as a strategy to help families avoid estate taxes. But with recent changes in income tax and estate tax rates, in many cases B trusts now trigger substantially higher capital gains taxes for beneficiaries or heirs...
by Arthur Geffen | Dec 28, 2015 | Trusts
There are several qualifications you should consider when selecting your trustee. Among the more important are the following: Administrative skill and knowledge: A trustee has to perform a multitude of tasks, including safeguarding of assets, collection,...
