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Author Archives: Steve Masterson
The 5 biggest mistakes a Trustee can make
This article from Barrons is a bit understated in some respects, but the points made are important ones. The Five Biggest Ways To Bungle a Trust
Portability of Estate Tax Exemption
Since the current estate and gift tax structure sunsets in less than 15 months, high net worth families must take advantage of the window of opportunity. The portability of the federal estate tax exemption is one area of opportunity. Check … Continue reading
Posted in Estate Planning, Estate Tax
Tagged estate tax, estate tax exemption, Gift tax, Tax
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Avoiding traps with your Last Will and Testament
An excellent article for those who have yet to write a Last Will and Testament. Do your heirs a favor and get it done right. Not doing it right keeps people like me in business. http://money.cnn.com/2011/08/10/pf/will_hidden_traps.fortune/
Posted in Estate Planner, Estate Planning, Uncategorized
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People who work at home are more honest.
While not directly on point as far as trustees and other fiduciaries are concerned, this is an article I found of interest. How many of you work from home or have employees who work from home? How’s it working? People … Continue reading
Posted in Uncategorized
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Couple Sues Estate Planners After Investments Wind Up in Madoff Feeder Fund
So what are the fiduciary issues in this article? When a professional adviser (e.g., an attorney, CPA, CFP, etc.) directs clients to use a specific investment manager, as well as provide some oversight with regard to the investment manager, does … Continue reading
Portability and the Credit Shelter Trust
Great article discussing the pros and cons of the new provisions of the 2010 tax act: Why Portability Isn’t a Cure-All.
Posted in Estate Planner, Estate Planning, Estate Tax
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Estate Litigation Epidemic
For those of you in the wealth management arena, this article should get your attention. One of the assertions is that the bulk of estate litigation is the result of mistakes by estate planners. http://estateplanning.wealthcounsel.com/bid/69634/Epidemic-in-Estate-Litigation
Dynasty Trusts Let U.S. Wealthy Duck Estate, Gift Taxes Forever
Courtesy of Bloomberg: http://www.bloomberg.com/news/2011-07-28/dynasty-trusts-let-u-s-wealthy-duck-estate-gift-taxes-forever.html
Posted in Estate Planning, Estate Tax
Tagged dynasty trust, estate planning, estate tax, inheritance tax, trustee
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Correct Trust Principal and Income Accounting is Critical!
Not too long ago, I was called to help out the remainder beneficiaries of a Trust. These beneficiaries were siblings and their dad had passed away. Before he died, Dad had been an income beneficiary of a separate Trust for … Continue reading
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