Insights

By Richard Bloom, Jonah Gruda, James Wienclaw, Victor Miesel, Tifphani White-King, Mark O'Loughlin, Minako Steel, Theodore Westhelle, Melissa Gonzalez, David Kohn, Josh Friedman, Alexandre Maguet, PJ Manchanda, John Bowlby and Brendan Williamson

In 2018, tax planning was significantly impacted by the Tax Cuts and Jobs Act (TCJA), which contains arguably the most sweeping changes in US tax law since the enactment of the Tax Reform Act of 1986. The TCJA has affected many areas of taxation including international tax, individual and business income tax, estate and gift tax, state and local tax, compensation and benefits, and not-for-profit tax.

Read the full report here. 

One of the most important decisions you will make in your estate plan is choosing a trustee to serve now and in the future for trusts that may be created. As you consider your trustee options, it will help to think of your estate plan as more than just a tool for transferring your assets and saving taxes. In essence it is a program for managing your wealth for you and your family during various time frames that could last many years.

The first time frame is your lifetime. You may retain most of the responsibility yourself during this time frame if you are savvy about investments and other financial matters, and have the time. Most people name themselves as the trustee of their revocable trust. However, you will need help if you lose interest in managing your investments, want to consider more sophisticated planning or become incapacitated at some point.

Read more here.