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Latest Blog Posts

History of Trust Protectors

Posted on: January 27th, 2017
Still relatively new to domestic trusts, trust protectors can be traced back to early implementation in offshore trusts. Here is a brief timeline of trust protectors....

3 Tips for Filling Out Form 1041, Income Tax Return for Trusts and Estates

Posted on: January 27th, 2017
Virtually all estates and most trusts require filing of the Form 1041 to report income earned by the estate and/or trust. Our tax attorneys routinely assist trustees and executors with preparing the Form 1041. From these experiences we noticed that certain issues surfaced more frequently than others. Review these tips before filing....

Income-Producing Assets in Estates and Trusts

Posted on: January 26th, 2017
Certain tax forms are required for estates and trusts that earn income. The executor or trustee is responsible for identifying necessary forms, completing proper accounting, and filing and paying any tax due by the deadline....

3 Ways to Minimize Trustee Risks

Posted on: January 25th, 2017
While trusts may minimize liabilities that could compromise trust assets for beneficiaries, the party responsible for administering the trust carries their own risks. Trustees bear tremendous personal liability....

Tax Impact of Stretch IRA Phase Out for Non-Spousal Beneficiaries

Posted on: January 24th, 2017
The Senate Finance Committee recently voted unanimously to eliminate stretch IRAs for non-spousal beneficiaries. The pending legislation imposes a five-year payout deadline for accounts left to non-spousal beneficiaries, with an exemption of $450,000 per account holder. While elimination of the stretch IRA has been a recurrent item among lawmakers, a few factors suggest the stretch IRA will ultimately phase out in 2017. ...

Estate Planning and Firearms: A Taboo Subject

Posted on: January 24th, 2017
Guest contributor Dennis Gayness, a certified firearms appraiser with Triangle Shooting Academy, discusses the personal values behind a proper estate plan for one's firearms....


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