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April 5, 2021 / Newsletters

Insight on Estate Planning, April/May 2021

Weinstock Manion is pleased to present the April/May 2021 issue of Insight on Estate Planning, our bi-monthly newsletter. We encourage you to read it for ways to implement your estate plan more effectively, including ways to minimize taxes on your estate so as to maximize its value for your loved ones. We realize that we cannot fully address these complex issues in a few short articles, so we invite you to contact us to discuss your specific needs.

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In this issue:

Opening Up To SLAT Opportunities
Estate tax planning can become complicated when multiple parties are involved. For example, one may be concerned about providing assets to a surviving spouse of a second marriage, while also providing for his or her children from a first marriage. Of course, one will also want to take advantage of favorable estate tax provisions in the law. This article details why a spousal lifetime access trust (SLAT) can meet those objectives. A sidebar examines the pitfalls of reciprocal trusts.
Read this article.

Thinking Of Moving Abroad?
Consider The Estate Tax Planning Implications Before Relocating
Considering moving abroad because of a new career opportunity or looking to retire to a warmer climate? If so, it’s critical to consider how the move may affect one’s estate plan. This article explains the income and estate tax ramifications.
Read this article.

Family Advancement Sustainability Trust
A Flexible Trust That Can Achieve Many Estate Planning Goals
While, ultimately, a person creates an estate plan to meet technical objectives, such as minimizing gift and estate taxes and protecting assets from creditors’ claims, he or she should also consider “softer,” yet equally critical, goals, such as educating children on how to manage wealth responsibly. This article details how a family advancement sustainability trust can help achieve this goal.
Read this article.

Estate Planning Pitfall:
You Haven’t Provided A Password List To Relatives
Those who are relatively young and in good health typically ignore the possibility that they could suddenly and unexpectedly become incapacitated or even die. In a worst-case scenario, their loved ones will be locked out of their online accounts. This brief article explains why it’s important not to make this mistake.
Read this article.

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