The American College of Trust and Estate College News | The American College of Trust and Estate Counsel

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Tangible Personal Property in Estate Planning

Experts explain why you’ll want to add provisions regarding tangible personal property, such as furniture, vehicles, electronics, and jewelry, to your will or trust.

Impact of the Connelly v. United States Decision

An estate planning attorney discusses the implications of Connelly v. US, buy-sell agreement, valuation of life insurance proceeds, Section 2703, and more.

A New Decision on Adequate Disclosure of Gifts

Understand the taxpayer victory and tax court decision in Schlapfer v. Comm'r that strict compliance with adequate disclosure regulations may not be necessary.

The Intersection of Well-Being and Trust Planning

T&E practitioners are introducing Well-Being theory into estate planning by encouraging clients to add Well-Being provisions into the drafting process.

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Funding Your Revocable Trust and Other Critical Steps

Learn why funding your trust is vital for seamless asset transfer, minimizing legal issues and taxes, and safeguarding your beneficiaries' future in this video.

Practical Considerations in Representing the (Un)Happily Married (Pt. 3 of 3)

An estate lawyer discusses tax traps, creative planning techniques, and practice tips for situations when trusts may be on the divorce balance sheet. Pt. 3 of 3

Practical Considerations in Representing the (Un)Happily Married (Pt. 2 of 3)

An estate lawyer shares how to analyze if trust assets might be on the table in divorce and how to review the history of the trust administration. Pt. 2 of 3

Practical Considerations in Representing the (Un)Happily Married (Pt. 1 of 3)

An estate lawyer offers eight questions to ask clients about trust assets to see what is vulnerable in divorce in Part 1 of 3 of this topic.

Should I Serve as a Healthcare Agent Under a Power of Attorney (POA)?

Understand what you need to know about accepting the legal responsibility of a healthcare agent, aka a healthcare surrogate or healthcare proxy.

Considerations for Nonprofits in Accepting Crypto Donations

Estate planning and banking investment professionals explain what nonprofits need to understand before accepting donations of cryptocurrency, crypto.

Best Practices for Virtual Court and Legal Proceedings

A litigation expert offers best practices for virtual hearings, online legal proceedings and guidance for navigating this relatively new environment.

Tips for Winding Up Charitable Entities

What happens to charities upon the death of a founder, or is deemed a risk by those in control? Estate planners share tips for winding down charitable entities.

Should I Serve as an Agent Under a Financial Power of Attorney (POA)?

Understand what’s involved in the role of a property or financial Power of Attorney (POA), what’s entailed, and what questions you should ask yourself.

Gorin's Business Succession News (Second Quarter 2023)

IN THIS ISSUE: Adequate Disclosure on Gift Tax Returns, Constructive Dividends & Other Shareholder-Corporation Transactions, Transferee Liability Just Got a Little More Scary, and Blog Posts & Upcoming Events

SECURE Act 2.0 and Charitable Remainder Trusts

A legal scholar explains a new law allowing IRA owners to transfer up to $50,000 directly to a charitable gift annuity or Charitable Remainder Trust.

Directed Trusts Laws and Related Uniformed Acts

Uniform Directed Trust Act in action. A review of the act enacted in 16 states, the latest on directed trusts from the perspective of trustee, planner, and litigator.

Blind Success: Hiring Visually Impaired Lawyers

An ACTEC Fellow describes his journey as a blind lawyer: lessons learned, job support, and recommendations for law firms hiring individuals with disabilities.

QSBS Planning and Potential Pitfalls

A legal expert in QSBS, Qualified Small Business Stock, explains the planning opportunities, what advisors need to know, redemption, and adding it to an estate.

Should I Serve as a Trustee?

Attorneys explain the responsibilities and risks of being a trustee of a trust, a role that involves significant legal and ethical obligations.

The Complexity of Dealing with a Holographic eWill

A trust and estate expert shares the interesting case of a holographic eWill in Mississippi written in the testator’s handwriting on an iPad.

Understanding the Kittler E-Will Case in Pennsylvania

A Pennsylvania Fellows explains the issue of the case of Susan Kittler, who, during COVID in 2021, drafted a will and executed it using an electronic signature.

Recent IRS Challenges to Grantor Retained Annuity Trusts (GRAT)

An overview of two recent IRS cases regarding Granter Retained Annuity Trusts, GRAT, the significance of the cases for estate planners and the IRS rulings.

Should I Serve as an Executor?

Estate attorneys explain what individuals need to understand before agreeing to serve as an estate executor, such as probate, tax, and legal requirements.

Patagonia Purpose Trusts

The founder of Patagonia clothing transferred $3B of stock to a Purpose Trust. What is a Purpose Trust and how does it meet Patagonia's corporate objectives?

Comments on the Word "Grandfathered"

Past President Ronald D. Aucutt (2003-2004), working in conjunction with the Drafting Subcommittee of ACTEC’s Diversity, Equity and Inclusivity Committee, offers comments on the word “Grandfathered.”

Tips for Joint Representation of Spouses: Part 2 of 2

Podcast two of joint representation offers four more tips for lawyers and the red flags to watch out for as they ensure both spouses are represented equally.

Tips for Joint Representation of Spouses: Engagement Letters Pt. 1 of 2

Four tips practitioners need to keep in mind when providing joint representation to spouses and where to find sample attorney engagement letters.

Tips for Seniors to Avoid Scams

Legal experts explain common scams against senior citizens, offer tips to avoid scams, and outline steps to take if you are the victim of elder fraud.

Non-Grantor Irrevocable Complex Discretionary Spendthrift Trusts

Don't get fooled by non-grantor irrevocable complex discretionary spendthrift trust scams. An expert warns about questionable trust structures marketed online.

Considerations for U.S. Owners of Canadian Real Property

Guidance for Americans purchasing real property in Canada, including tax traps, LLC and personal ownership considerations, non-resident prohibitions and more.

Hiring, Examining, and Being an Expert Witness

T&E experts offer their advice to lawyers and professionals when retaining an expert witness or determining if you want to be an expert witness in a court proceeding.

2023 ACTEC Pocket Tax Tables

The ACTEC Pocket Tax Tables guide is a handy resource for frequently used tax information revised through April 15, 2023.

Sixth Edition of ACTEC Commentaries on the Model Rules of Professional Conduct

This Sixth Edition of the ACTEC Commentaries continues the tradition of providing guidance on the Model Rules of Professional Conduct particular to estate and trust practitioners.

Gorin's Business Succession News (First Quarter 2023)

IN THIS ISSUE: Liens from Deferred Estate Tax on Businesses, Irrevocable Grantor Trusts and Basis Step-Up, Charitable Gifts of Business Interests, and Blog Posts & Upcoming Events

ACTEC Elects 23 New Fellows to The College

The Board of Regents of ACTEC convened during the College’s 2023 Annual Meeting in New Orleans, LA to consider nominations for a new class of ACTEC Fellows. The College is pleased to announce 23 individuals were elected.

Summary of Hot Trust & Estate Topics from 2022 and Early 2023

Estate planning experts review recent T&E cases, IRS rulings, SECURE Act 2.0, DAF and CRT cautions, and other recent developments impacting estate planners.

Civil Law Concepts in American Family and Inheritance Laws

A law professor shares ways civil and common law systems have influenced each other, particularly in matters relating to adoption, family and inheritance laws.

Capitol Letter #60

ACTEC Fellow Ronald D. Aucutt shares the latest Selected Income, GST, Gift, and Estate Tax Proposals in the Greenbook

Supreme Court Rules on Bittner v. United States

Supreme Court ruling in Bittner v. United States, with input from ACTEC's amicus brief, regarding the Bank Secrecy Act and Foreign Bank Account Reporting.

Lessons From Lisa Marie Presley's Estate: Why Use a Corporate Trustee

Drama in the Estate of Lisa Marie Presley may be due to the absence of a corporate trustee. Understand the benefits of using an experienced corporate trustee.

Capitol Letter #59

ACTEC Fellow Ronald D. Aucutt shares the latest from the “General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals” (popularly called the “Greenbook”).

The ACTEC Foundation Announces Four New Directors

The ACTEC Foundation today announced that four ACTEC Fellows were elected to The Foundation’s Board of Directors on Friday, March 3, during ACTEC’s 2023 Annual Meeting, held in New Orleans, LA.

Relief for S Corporation Mishaps

Expert tax advice on the relief provided in IRS Revenue Rulings for S Corporation to address mistakes and mess-ups in tax filing or ownership restrictions.

ACTEC Elects Eight New Members to the Board of Regents

ACTEC today announced that eight new Regents were elected to its Board of Regents during the College’s Annual Business Meeting, held in New Orleans, Louisiana, on Friday, March 3, 2023

ACTEC Announces Kurt A. Sommer as New President

ACTEC today announced that Kurt A. Sommer will serve as the 2023-24 President. Sommer, the Managing Partner with Sommer Udall Law Firm, P.A. in Santa Fe, NM, succeeding 2022-2023 ACTEC President Robert W. Goldman of Goldman, Felcoski & Stone P.A. in Naples, FL.

The Importance of Treating Life Insurance as an Asset and Maximizing Value

Life insurance may be a client’s most valuable asset. Understand how to identify a policy’s value and sell it for other estate needs instead of letting it lapse.

Managing Guns in Your Estate

Estate planning experts explain the complexity of transferring firearms and guns in your will and offer tips regarding what to consider when bequeathing weapons.

The Separate Shares Rules and Their Nuances

An explanation of how and when separate share rules and the nuances involved with Income in Respect to the Decedent, IRD, and S Corporation stock.

Income Taxation of Joint Revocable Trusts

An estate expert explains the options and complexity for the surviving spouse in a joint revocable trust following the death of the other spouse.

Witness Depositions of Valuation Experts

An expert shares best practices for T&E attorneys when preparing for a valuation, taking the deposition, and defending the witness.

Corporate Transparency: US Joins the Rest of The World

Update on Corporate Transparency Act final regulations: experts explain requirements by the reporting company, beneficial owner, and applicants.

Understanding Special Needs Trusts

Estate planning experts explain the different types of Special Needs Trusts (SNT) and offer tips to families to determine which one they should use.

Understanding and Managing the Rights of Lifetime Creditors Following Death

Estate planning attorneys discuss differences in legal traditions and post-mortem rules with creditors, probate, and trust administrations in different states.

Considerations in the Possible Liquidation of a Closely Held Entity and Other Alternatives (Pt. 4 of 4)

The final part of the Closely Held Entities series explores potential liquidation, including audit, valuation and tax issues.

Considerations in the Possible Liquidation of a Closely Held Entity and Other Alternatives (Pt. 4 of 4)

The final part of the Closely Held Entities series explores potential liquidation, including audit, valuation and tax issues, and where it may make sense not to liquidate.

Capitol Letter #58

The Top Ten Estate Planning and Estate Tax Developments of 2022 by Ronald D. Aucutt

The Administration of a Closely Held Entity (Pt. 3 of 4)

In part 3 of Closely Held Entities, estate planners examine critical issues as well as discuss conducting a lifetime stress test for those entities.

Gorin's Business Succession News (Fourth Quarter 2022)

IN THIS ISSUE: Preserving Income Tax Benefits from Estate Tax Audits, S Corporation Sales, Partnership Redemptions, and Blog Posts & Upcoming Events

Formation of a Closely Held Entity (Part 2 of 4)

With part 2 of the Closely Held Entities, ACTEC's trust and estate experts dig a bit deeper into issues of the formation of LLCs and limited partnerships.

Tips for Individuals Living Alone (Part 2 of 2)

Estate lawyers share tips for individuals living alone on how to plan for incapacity or illness for an extended amount of time and provide a review of critical power of attorney documents.

An Illuminating Look at Closely Held Entities: Series Overview

Trust and estate experts introduce a 4-part podcast series on the main phases of the closely held entity: formation, administration, and possible liquidation.

Moving Your Firm to the Cloud

Lawyers share tips for planning and successfully moving your firm's data and software to a cloud solution. Understand the benefits and risks in this podcast.

Supporting and Mentoring Female Estate Planning Attorneys

An experienced mentor and estate planning attorney offers tips on work-life balance, mentorship, and supporting women in trust and estate law.

Tips for Individuals Living Alone (Part 1 of 2)

Estate lawyers share tips for individuals living alone to prepare for a healthcare or medical emergency, including a checklist and contact forms.

ACTEC Submits Comments and Responses to FATF on Proposed Changes to Recommendation 25

ACTEC submits comments and responses to questions posed by FATF regarding proposed revisions of FATF Recommendation 25 and its Interpretive Note to be considered during the February 2023 FATF meetings.

Work-Life Balance: Recommendations for Attorneys

An attorney shares his recommendations for work-life balance and tips for setting boundaries, reducing stress, and setting an example for younger employees.

What You Need to Know About Authenticating Cross-Border Documents and the Importance of Electronic Apostilles (e-APP)

International estate planning experts explain ACTEC’s support of electronic apostilles, e-APPs, and the importance of apostilles to the trusts and estates practice.

ACTEC Elects 53 New Fellows to the College

The Board of Regents of ACTEC convened during the College’s 2022 Fall Meeting in San Francisco, California to consider nominations for a new class of ACTEC Fellows. The College is pleased to announce 53 individuals were elected. This select group includes 35 Fellows, ten International Fellows from eight countries, one Academic Fellow and seven Fiduciary Counsel Fellows.

Top 10 Recommendations for Planning Retirement Benefits under the SECURE Act

Planning for retirement benefits under the SECURE Act is complicated. Hear the top ten recommendations from a trust and estate expert when planning distributions.

ACTEC's Comments on Section 2053 - Proposed Estate Tax Regulations

ACTEC comments on proposed regulations under IRS Code Section 2053, and the effects on estates seeking to deduct funeral and administrative expenses and loans.

An Introduction to Native American Tribal Court

ACTEC released its video, An Introduction to the Native American Tribal Court, to provide an overview of the interworking of a tribal court, its jurisdiction, and its importance to Native American law and culture.

Introduction to Native American Tribal Court

Judge Joseph Wiseman, a tribal court judge, explains the interworking of the court, its jurisdiction, and its importance to Native American law and culture.

ACTEC's Supreme Court Amicus Brief in Alexandru Bittner v. United States

Understand the Foreign Bank and Financial Account Report, FBAR, issues under review at the Supreme Court in Bittner v. United States and ACTEC's amicus brief.

The Corporate Transparency Act: The Clock has Started

Learn what estate planners need to know about reporting requirements of the Corporate Transparency Act from FinCEN’s final rules issued on September 29, 2022.

Preparing for Your Initial Estate Planning Meeting

Experts in estate planning explain what information and documents clients need to provide to an attorney during the initial meeting to be efficient with time.

Unconscionability of Premarital Agreements - Pt 2 of 2

An estate lawyer explores case disputes of premarital agreements, aka post-nuptial agreements, based on unconscionability under the Uniform Premarital Act.

Gorin's Business Succession News (Third Quarter 2022)

IN THIS ISSUE: Loan Guarantees, Debt as Part of a Business’s Capital Structure, Ordinary Income on Sale of Business, and Blog Posts & Upcoming Events

Unconscionability of Premarital Agreements - Pt 1 of 2

An estate lawyer explains the Uniform Premarital Act and the limitations of premarital agreements, aka post-nuptial agreements, based on unconscionability.

When to Pursue a Trust Reformation Action

Understand ways to amend an irrevocable trust under the Uniform Trust Code (UTC), including a decanting transaction from a trust and estate expert.

Essential Estate Planning Tips for Latinos

In celebration of Hispanic Heritage Month, ACTEC released the video Consejos Basicos en Planificacion Paternal to provide insight as to why it is critical to develop estate planning documents, such as a will and power of attorney, to protect, preserve, and distribute assets at death or during incapacity.

Consejos esenciales de planificacion patrimonial para latinos

En honor al Mes Nacional de la Herencia Hispana, que coincide con el Mes Nacional de Planificación Patrimonial, ACTEC lanzó el video Consejos Básicos en Planificación para crear un recurso crucial en español para que los latinos en los Estados Unidos protejan y leguen la riqueza generacional.

Consejos Básicos en Planificación Paternal

Información para latinos que explica la necesidad de tener documentos esenciales de planificación patrimonial para proteger, preservar y distribuir activos en caso de muerte o emergencia.

Common IRA Beneficiary Scenarios

There are no do-overs with IRA beneficiaries! Understand the typical IRA beneficiary scenarios and why it’s critical to review every time you set up an IRA.

The ACTEC Foundation Announces Mary Moers Wenig 2022 Student Writing Competition Winners

Three law students’ submissions stood out among 16 entries received and reviewed by a panel of judges appointed by the Legal Education Committee of ACTEC. ACTEC Fellow T. Randolph Harris, who chaired the judging process, said, “Because of the high quality of the papers this year, the judges had a difficult task selecting the winners.

Understanding Funding Agreements

Learn key elements that should be included in funding agreements including five essential recommendations to help them stand up to court scrutiny.

Migrating Clients from Common Law to Community Property States (and Vice-Versa)

Hear guidance for clients moving from a common law to a community property state, how to avoid common mistakes, and differences between community property states.

Cryptocurrency in Retirement Accounts

Can retirement accounts hold cryptocurrency? Guidance on what’s allowed, the legal uncertainties, risks and benefits of cryptocurrency in IRA and 401k accounts.

IRS Proposes Mortality Assumptions Update for Section 7520

Updated IRS mortality assumptions have arrived. An overview of the updated tables, how the numbers work, and actions to consider before regulations become final.

Paying and Reducing Estate Tax with a Graegin Loan

Learn how to use a Graegin loan to pay for and reduce estate tax when interest rates are high, and how to avoid Graegin loan missteps.

ACTEC Files Amicus Brief with Supreme Court

ACTEC filed an amicus brief with the Supreme Court in Alexandru Bittner v. United States on August 16, 2022.

Tips for Managing Digital Assets of a Deceased or Disabled Person

Tips for adding a legacy contact to email/social media accounts; recommendations for executors accessing digital property of disabled/deceased persons with no legacy contact.

Estate Planning Opportunities in a Time of Rising Interest Rates

A trust and estate expert shares insights on opportunities available for planners and their clients during the current rising interest rate environment.

ACTEC Submits an Amicus Brief in Alexandru Bittner v. United States with the Supreme Court. (August 16, 2022)

An amicus brief in Alexandru Bittner v. United States was filed on August 16, 2022, with the Supreme Court by ACTEC. This is an important case dealing with the Bank Secrecy Act (“BSA”) which presently authorizes a $10,000 civil money penalty for foreign account reporting violations that are non-willful, and which do not satisfy the reasonable cause exception. Oral argument in Bittner is set for November 2.

Capitol Letter #57

Reflections regarding four significant topics the U.S. Treasury and IRS have released guidance on Anti-Clawback Regulations, Estate Tax Deductions, Portability Elections, and Section 7520.

The Intersection of S Corps., ESBTs, California Tax and Beer

When it comes to trust planning, ESBTs, and S Corps, sometimes you can do everything right and still be subject to California Entity Tax.

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Protecting Civil Liberties in America: Korematsu v. United States

A discussion of the history of the 1944 Supreme Court case Korematsu v. United States and its relevance to present-day civil liberties.

ACTEC Releases Video Protecting Civil Liberties in America: Korematsu v. United States

ACTEC today released its video, Protecting Civil Liberties in America: Korematsu v. United States. The video is the College’s 21st in its monthly informational series Planning for a Diverse and Equitable Future, a project of ACTEC’s Diversity, Equity and Inclusivity Committee, funded by The ACTEC Foundation.

Electronic Will Legislation in the US

A trust and estate expert advises extreme caution when using an e-will or electronic will. Understand why in this podcast.

Removal of Trustees

How do you remove a trustee? A review of what to expect, the standard of proof, grounds and the role of equity court determinations.

Gorin's Business Succession News (Second Quarter 2022)

IN THIS ISSUE: State Tax in Estate Planning, Employment Tax; Blockers, S Corporation Single Class of Stock, and Blog Posts & Upcoming Events

ACTEC Releases Video Focused on Civil Rights Cases Decided by the Supreme Court

ACTEC releases its video, Landmark Civil Rights Cases Decided by the Supreme Court, to provide a history of critical civil rights cases in the United States and an overview of their importance.

Navigating the Choppy Waters of Cross-Border Estate Administration

One will or two? The impacts of forced heirship on assets in civil law jurisdictions and benefits of EU Succession Regulation in cross-border estate planning.

Landmark Civil Rights Cases Decided by the Supreme Court

Author and Professor Christopher Schmidt reviews the history of critical Supreme Court civil rights and equality cases that everyone should know.

529 Plan Pros and Cons

Estate experts answer parents' and families' questions about how 529 Plans work and what you need to keep in mind when saving for higher education.

An Update on Asset Protection Cases Where Lawyers Overstepped Their Boundaries

Overstepping boundaries in asset protection exposes practitioners to civil, professional, misdemeanor, and even criminal RICO liabilities.

The Calling of the Counselor in Counseling Families - Final Podcast

The conclusion of the 2022 Trachtman Memorial Lecture by Ron Aucutt, where he shares his wisdom and offers closing thoughts for estate counselors.

The Calling of the Counselor in Counseling Families Part 2 of 3

Ron Aucutt shares his recommendations to trust and estate professionals on how to help clients nourish their family legacies in Part 2 of 3 of the Trachtman Lecture.

The Calling of the Counselor in Counseling Families - Part 1 of 3

Part 1 of 3 of 2022 Trachtman Memorial Lecture by Ron Aucutt, encouraging practitioners to help clients identify and build a legacy of shared family values.

ACTEC Releases Video Focused on Chronic Illness and Long COVID in the Workplace

ACTEC releases its video, Chronic Illness and Long COVID in the Workplace, to provide tools to help employers and employees navigate through managing Long COVID and other chronic illnesses in the workplace

Chronic Illness and Long COVID in the Workplace

An interview with a Long COVID sufferer and an employment law specialist to better understand the chronic illness and discuss the health and work impacts.

The Calling of the Counselor in Counseling Families - Overview

A synopsis of the 2022 Trachtman Lecture by Ronald D. Aucutt, where he encourages practitioners and shares strategies to help clients build a legacy.

The Accidental Private Foundation - Non-Exempt Charitable Trusts Under Section 4947

Trusts used for exclusively charitable purposes may be subject to the Private Foundation Rules. Understand how to avoid the tax consequences of IRS section 4947.

When and How to Use a Prenuptial Agreement

Experts in estate planning explain what a prenuptial agreement (a.k.a. premarital agreement) is, why you should get one, when in the marriage planning process to discuss it, and more.

ACTEC Recognized by the Academy of Interactive and Visual Arts

The Academy of Interactive and Visual Arts has awarded five Communicator Awards to The American College of Trust and Estate Counsel (ACTEC). The Communicator Awards is one of the largest competitive awards programs honoring creative excellence for communications professionals, receiving over 5,000 entries from across the U.S. and around the world.

An Introduction to the Corporate Transparency Act

An overview of how wealth planners and T&E practitioners can comply with the proposed anti-money laundering rules of the Corporate Transparency Act.

2022 Hot Topics in Trust and Estate Law

An overview of proposed regulations to the SECURE Act, and the critical T&E tax court cases of Levin, Smaldino, and Connolly.

ACTEC Releases its 200th Podcast in The Trust and Estate Talk Series

The American College of Trust and Estate Counsel (ACTEC) today released its 200th episode in the ACTEC Trust and Estate Talk podcast series sponsored by The ACTEC Foundation, “The Law, Professional Responsibility, and the Future of Trust and Estates.”

The Law, Professional Responsibility and the Future of T&E

Celebrating 200 podcasts, two ACTEC leaders discuss issues and forces shaping the future of the practice and the ability of practitioners to impact lives.

A Proposal to Repair Racial Wealth Disparity

Experts in tax law present their research on racial wealth disparity as well as recommendations for funding and distributing reparations to to Black Americans.

Key Roles Involved in an Estate Plan

An explanation of the roles and responsibleness involved in a will, trust, or estate plan such as fiduciary, agent, executor, trustee, and guardian.

The Future of Digital Assets and the Dollar

The foundation of the global financial order is set for significant changes as demand for digital assets and cryptocurrencies upsets governments' reliance on the dollar.

Capitol Letter #56

The Administration’s Fiscal Year 2023 Budget Proposals by Ronald D. Aucutt

Gorin's Business Succession News (First Quarter 2022)

IN THIS ISSUE: Basis Step-Up by Trust Modification, BDOT by Trust Distribution, Preferred Partnerships Preferred to Fees, and Blog Posts & Upcoming Events

Mistakes Made in Premarital Agreements by Estate Planning and Family Law Lawyers

Estate planning and family law attorneys share what to be aware of and some pitfalls when drafting premarital agreements and prenups.

California Tax Trap and Residency for Trusts

Words of caution for trust fiduciaries, beneficiaries and residents; CA has liberal definitions of who is considered a resident and subjected to tax on trusts.

Can I Do a Will for Myself?

Understand the pros and cons of writing a will for yourself and what should be considered when planning for the disposition of your assets.

Understanding Rights of Publicity or Name, Image, Likeness (NIL)

An overview of publicity rights, property rights, name, image, likeness (NIL) and how they differ by state.

"Fair" Housing and Opportunity Hoarding

In a Fair Housing Month feature video, author Sherryl Cashin discusses how unfair housing has contributed significantly to the wealth gap between black and white Americans.

"Fair" Housing and Opportunity Hoarding

In a Fair Housing Month feature video, author Sherryl Cashin discusses how unfair housing has contributed significantly to the wealth gap between black and white Americans.

A Proposal to Repair Racial Wealth Disparity

ACTEC today released the video A Proposal to Repair Racial Wealth Disparity, in which experts in tax law present their research on racial wealth disparity and provide options for funding and making reparations to Black Americans.

ACTEC Law Journal: Dedicated to Trust and Estate Topics for Nearly 50 Years

ACTEC Law Journal Coordinating Editor shares insights on the publication process, the contributions of the student editors, and the importance of the journal to T&E law.

ACTEC Appoints New Law Journal Editor

The American College of Trust and Estate Counsel announced today the new Editor for the ACTEC Law Journal, ACTEC Fellow Professor Naomi Cahn.

ACTEC Elects 33 New Fellows to the College

The Board of Regents of ACTEC convened during the College’s Annual Meeting in San Diego, California to consider nominations for a new class of Fellows. The College is pleased to announce 33 individuals were elected. This select group spans the US and includes two international Fellows representing England and Canada.

ACTEC Elects 12 New Regents to Board of Regents

ACTEC today announced 12 new Regents were elected to its Board of Regents, during the College’s Annual Business Meeting held in San Diego, California, on Friday, March 11, 2022. ACTEC’s Board of Regents is the governing body of the College

Estate Planning for Principals of Private Equity and Hedge Funds

Recommendations for what principals of investment strategies and what to keep in mind regarding carried interest of private equity and hedge funds.

ACTEC Announces Robert W. Goldman as New President

ACTEC today announced that Robert (Bob) W. Goldman will serve as the College’s new President. Goldman, a partner with Goldman, Felcoski & Stone, P.A. in Naples, FL, succeeds ACTEC President 2021-2022, Ann B. Burns from Minneapolis, MN.

Advising Transgender Clients on Estate Planning and Vital Records

Tips for financial and estate planning professionals working with transgender clients to their legal name and/or gender marker, identify documents, and powers of attorney.

How to Talk with Your Family About Estate Planning

Recommendations for how and when to talk with your family about your estate plan, will and other documents by expert trust and estate attorneys.

Estate Planning Excellence: The American College of Trust and Estate Counsel

An overview of ACTEC’s resources for professionals and how it impacts the legal profession, legislation and the law by Past-President John A. Terrill II.

Breaking the Glass Ceiling at ACTEC

In honor of International Women’s Day and Women’s History Month, ACTEC released the video Breaking the Glass Ceiling at ACTEC, offering an inside look at how women can lead the charge of enabling an established professional organization to become more inclusive and diverse.

Breaking the Glass Ceiling at ACTEC

In honor of Women’s History Month, ACTEC looks at our history of inclusion and diversity by interviewing the first women to pave the way in the College.

Top Estate Planning and Estate Tax Developments of 2021

ACTEC Fellow Ronald Aucutt shares his 2021 top estate planning developments and what estate planners should be aware of regarding tax changes and court decisions.

Dealing with Unwanted Irrevocable Trusts and Basis Issues

Practical questions that estate planning lawyers should ask when evaluating the value of irrevocable trusts when circumstances have changed.

How to Pay for College for a Grandchild or Someone Else

Tax experts offer recommendations to grandparents on how to contribute to a student’s education without jeopardizing grants and paying taxes.

Uniform Electronic Transactions Act and Recent Developments

Expert lawyers discuss the use of electronic signatures and remote notarization in recent Pennsylvania decisions affecting its legal use in wills and documents.

Understanding Serious Mistakes and Planning Implications in the Smaldino Tax Court Case

Estate lawyers discuss the Smaldino Tax Court ruling and the mistakes made in the transactions, as well as the estate planning implications.

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The Fight for Justice, Reparations and Bruce's Beach

Understanding the efforts by a pro bono attorney and land-rights activist to return a racially motivated eminent domain property to the family’s heirs.

The Fight for Justice, Reparations and Bruce's Beach

In celebration of Black History Month, ACTEC released the video The Fight for Justice, Reparations and Bruce’s Beach to provide insight into how the use of eminent domain can be used in a discriminatory manner, and what can be done to help families fight for heirs property reparations.

ACTEC submits comments today regarding Bank Secrecy Act (BSA)

ACTEC submits comments in response to an ANPRM RIN 1506-AB-54, by FinCEN regarding potential requirements under the Bank Secrecy Act (BSA)

ACTEC submits comments today regarding the Corporate Transparency Act (CTA)

Corporate Transparency Act FinCEN Notice of Proposed Rulemaking of Regulations for Beneficial Ownership Information Reporting Requirements ACTEC Replies to Questions 15, 16, 17, 20, & 21

The SECURE Act and Retirement Account Planning Opportunities

A T&E expert offers an overview of the SECURE Act and what has changed once enacted with retirement account planning and trust beneficiaries.

How to Talk With Your Parents About Estate Planning

Trust and estate lawyers offer recommendations for how to have critical conversations with your parents about end-of-life planning and estate documents.

A Discussion of Chief Counsel Advice 202152018 and its Effect on the Administration of GRATs

Trust and estates experts discuss recent IRS Chief Counsel Advice’s impact on difficult to value assets in Grantor Retained Annuity Trusts (GRAT).

The Mysteries and Misunderstandings Related to Code Section 678

A trust and estate expert explains the complexities and ins and outs of IRS Code Section 678, BDIT, and BDOT.

Gorin's Business Succession News (Fourth Quarter 2021)

IN THIS ISSUE: IRS Procedural Update, Buy-Sell Development, Loan Guarantees and Blog Posts & Upcoming Events

Capitol Letter #55 - Top Ten Estate Planning and Estate Tax Developments of 2021

Ronald Aucutt's Capital Letter No. 55 offers a summary of 2021 including the Covid challenge, legislative proposals, pending "anti-abuse" regulations, and more.

Adultery Penalties in Premarital Agreements

Does infidelity void a premarital agreement? A law professor discusses adultery provisions, infidelity clauses, and no-fault divorce as public policy.

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Mentoring Young Lawyers and the Impact of Affinity Bars

Trust and estate lawyers discuss the importance of opportunities presented through mentoring and encourage participation in affinity bars.

Mentoring Young Lawyers and the Impact of Affinity Bars

In celebration of National Mentoring Month, ACTEC offers a discussion between two successful trust and estate lawyers about the impact mentors had on their careers, and professional recommendations to young lawyers in a new video, Mentoring Young Lawyers and the Impact of Affinity Bars.

Understanding Life Insurance Policy Ownership

Answers to life insurance policy ownership questions, insurance options, an explanation of irrevocable life insurance trust and more from an estate expert.

Spousal Support Provisions in Premarital Agreements

An explanation and examples of spousal support in premarital agreements, especially helpful in states that litigate fault in divorce and tie it to alimony.

Conflict of Laws and Relation-Back of Powers of Appointment

ABA RPTE Law Journal author offers an overview on his new article “Conflicts of Laws and the Transitivity of the Relation-Back of Special Powers of Appointment.”

ACTEC Recognizes the Heart of America Fellows Institute Graduates

The Heart of America Fellows Institute of ACTEC graduated 28 participants of Class II.

The Interplay Between Trust Accounting and Statute of Limitations

Litigation can be costly. Understand the special considerations attorneys should be aware of when reviewing trust accounting to avoid litigation.

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Life Insurance Policies and Estate Planning

A general overview of the risks and rewards associated with term and permanent life insurance policies and factors to consider in choosing the right policy.

The Basics of the Estate Administration Exception to Avoid Self-Dealing Prohibitions

A review of the rules, probate and estate administration exceptions to avoid issues regarding self-dealing transactions between a foundation and a donor.

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Recognizing Religious Diversity While Advising End-of-Year Gifting

ACTEC released a new video, Recognizing Religious Diversity While Advising End-of-Year Giving. Approximately 31 percent of the $471 billion of annual charitable giving occurs in the month of December.

Recognizing Religious Diversity While Advising End-of-Year Gifting

Trust and estate lawyers discuss the impact of faith on end-of-year giving and how to respect religious diversity when advising clients.

An Update on NFTs - Non-fungible Tokens

An overview of non-fungible tokens, NFT, for estate planning professionals including creation, management, and protection.

An Overview of Tennessee Trust Law

A review of changes to Tennessee trust laws that make the state a desirable trust jurisdiction, streamlined trust statutes, and made it difficult for creditors.

Uses of Exculpatory Clauses in Wills and Trusts

An overview of the uses of exculpatory clauses in estate planning, enforceability under state law and advice for litigators.

Gorin's Business Succession News (Third Quarter 2021)

IN THIS ISSUE: Note Modifications, Reorganizing Private Businesses, Trust Sale of Pass-Through Interest and Blog Posts & Upcoming Events

Traps Await for Beneficiary-Owned Trusts Under Section 678

Understand how well drafted beneficiary trusts can go wrong under IRS Code Section 678 and how to avoid pitfalls from a T&E expert.

Legal Options for Individuals with Special Needs and Disabilities

Legal options for families and individuals with disabilities, including alternatives to guardianship, supported decision-making, legal documents and more.

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Legal Options for Individuals with Special Needs and Disabilities from The American College of Trust and Estate Counsel

The American College of Trust and Estate Counsel (ACTEC) today released a new video, Legal Options for Individuals with Special Needs and Disabilities.

What is Estate Administration?

What happens if someone dies without a will? Estate planning experts answer pressing questions for families and beneficiaries.

Closely Held Business, Tiered Entities and Propose Revisions to Section 6166

ACTEC proposes a major update to a 40-year-old IRS Code 6166 that provides estate tax deferral for family businesses but has aged poorly.

ACTEC Elects 27 New Fellows to the College

ACTEC is pleased to welcome 27 new Fellows, elected by the Board of Regents on October 10 at ACTEC's Virtual Fall Meeting.

Don't Guess and Mess When Planning with QSBS

Expert discusses proposed legislation that retroactively takes aim at the tax benefits of QSBS and offers estate planning suggestions to prepare.

Capital Letter No. 54 - Commentary of the 2021-2022 Treasury-IRS Priority Guidance Plan

ACTEC Fellow Ronald D. Aucutt offers a review of the somewhat more predictable projects in the Treasury-IRS Priority Guidance Plan.

Capital Letter No. 53 - Ways and Means Committee's "Build Back Better Act"

A summary and analysis of the House Ways and Means Committee's "Build Back Better Act" bill by ACTEC Fellow Ronald D. Aucutt.

Exempt Status of Retirement Plan Distributions

Florida lawyers discuss strategies for preserving inherited retirement plan assets and address uncertainties related to state laws and the SECURE Act.

Postmortem Planning

An overview of what estate planning decisions can be made postmortem and pre-mortem, including taxes, decanting, and portability considerations.

An Analysis of Wyoming Asset Protection Provisions

A review of asset protection code in Wyoming, Wyoming’s Uniform Trust Code, and how it compares to other states.

ACTEC Releases Video Focused on Heirs Property and Generational Land Loss

The American College of Trust and Estate Counsel (ACTEC) today released a new video that examines Heirs Property and Generational Land Loss and potential solutions to the problem.

Heirs Property and Generational Land Loss

An explanation of what is heirs property, discussion of how it has impacted families of color, and possible strategies to address the problem.

Creditors' Rights vs. Trustees' Protections

Laws governing creditor rights vary from state to state. Understand the differences in trust provisions and corresponding effects against creditor claims.

Symposium on Conflict of Laws in Trusts and Estates

The ACTEC Foundation funding is supporting Tulane University School of Law and ACTEC’s Legal Education Committee’s 9th academic symposium on Oct. 21, 2022.

Estate Planning for Special Purpose Acquisition Company Founders

Insights into Special Purpose Acquisition Company, SPAC, estate planning opportunities for founders, their capital structures, valuation and more.

The Basics of Fiduciary Income Taxation

An explanation of fiduciary income tax and how it is different from the estate tax.

Lessons From the Tax Court Decision in the Estate of Michael Jackson

Understanding the tax court’s decision in the Estate of Michael Jackson and postmortem right of publicity.

The American College of Trust and Estate Counsel Releases Video Focused on Repairing Racial Wealth Disparity

The American College of Trust and Estate Counsel (ACTEC) today released its video, Black Farmers, Land Loss and the Racial Economic Gap, which provides insight into how discriminatory government programs and practices contributed to the racial wealth gap of Black American farmers.

Black Farmers, Land Loss and the Racial Economic Gap

Insight into the inequity of intergenerational wealth of Black American farmers through discriminatory government programs and practices.

Migrating a Law Firm's Software and Data to the Cloud

Practical advice from a tech-savvy lawyer for law firms migrating software and data to a cloud server.

Electronic Wills and Remote Execution

An update on electronic wills, remote witnessing, and notarization legislation in Illinois. The act became law on July 26, 2021.

What is Portability for Estate and Gift Tax?

An explanation of portability of the estate and gift tax exemption and what to consider if electing to use it.

Non-Fungible Tokens: What Every Estate Planner Needs to Know

An overview of NFTs, non-fungible tokens, how they work and what do estate planning professionals need to know.

Cryptocurrency Regulation and Qualified Custody

Experts discuss what trustees and fiduciaries need to know regarding cryptocurrency regulation.

ACTEC submits letter in support of State Issuance of Electronic Apostilles (e-APP)

Read the letter.

Proving a Will in the Age of COVID

The COVID pandemic caused many states to accelerate their laws regarding electronic wills. Learn what’s working and what’s not.

Direct Payment of Medical Expenses and Tuition as an Exception to the Gift Tax

Learn the do’s and don’ts of paying another person’s tuition or medical bills and avoiding gift tax rules.

The American College of Trust and Estate Counsel Reaches Podcast Milestone

ACTEC Trust and Estate Talk reached a podcast series milestone of 200,000 downloads today.

Modernizing Section 6166

An overview of ACTEC’s recommendations to revise IRC Section 6166, which hasn’t been updated in 40 years.

The American College of Trust and Estate Counsel Releases Video Focused on Repairing Racial Wealth Disparity

The American College of Trust and Estate Counsel (ACTEC) today released its video, 40 Acres and a Mule: Reparations and the Estate Tax, delving into wealth disparity resulting from slavery, Jim Crow laws, and the history of reparations.

40 Acres and a Mule: Reparations and the Estate Tax

A presentation regarding wealth disparity as a result of slavery in the US, the history of reparations and a possible solution to the wealth gap.

Taxes Emerging in Europe to Pay the Cost of COVID

An overview of the Organization for Economic Co-operation and Development, OECD, report and debate on inheritance tax.

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ACTEC submits to Treasury a Request for Guidance Regarding Section 401 of the SECURE Act to Issue Soon

On July 23, 2021, ACTEC submitted a request that Treasury issue proposed regulations as soon as possible to clarify the requirements of the SECURE Act so that beneficiaries of 2020 decedents are able to comply with those requirements prior to impending deadlines.

Economic Rights of Unmarried Cohabitants

Co-chair of the ULC’s Cohabitants Economic Remedies Act Committee explains the importance of having laws concerning unmarried cohabitants.

Gorin's Business Succession News (Second Quarter 2021)

IN THIS ISSUE: Owner Compensation vs. Distribution, Modifying Trusts to Avoid Biden Tax, Trust Use of Insurance/Annuity to Save Income Tax, and Blog Posts & Upcoming Events

Pitfalls of Do-It-Yourself Estate Planning

A discussion of what consumers need to know about using do-it-yourself estate planning documents and DIY wills.

Voidable Transfers in Self-Settled Spendthrift Trusts

An overview of Self-Settled Spendthrift Trust statutes of limitations and review of Wyoming’s legislation, House Bill 64.

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ACTEC Releases Video Examining Systemic Racism in the Legal Profession

The video considers existing biases regarding race and gender and how discrimination can be mitigated to ensure diversity and inclusion in the American legal system.

Joint Representations with Prenuptial Agreements

Does joint representation during a prenuptial agreement violate professional rules of conduct? Professor Carter reviews Prenuptial and Postnuptial Agreements.

ACTEC Report on Grantor Trusts: Alternative Proposals for Change

The submitted Report examines possible alternative proposals to modify the “grantor trust rules” in Subpart I of Subchapter J of the Internal Revenue Code.

What to Expect After Hiring an Attorney

Tips on what to keep in mind when working with an attorney, including the difference between individual, joint and family representation.

Supported Decision-Making

A general overview of supported decision-making, update on progress around the world and in the US, particularly in New York State.

Using Multiple Non-Grantor Trusts for Multiple Tax Benefits

Five reasons why tax and estate attorneys might want to recommend multiple non-grantor trusts for tax benefits for their clients.

Protecting Your Attorney's Fees to Benefit Your Client and Yourself

A presentation of how to discuss legal fees and expenses during trust and estate litigation and guidance from courts on the matter.

ACTEC Releases Video Addressing Gender Inequality in the Legal Profession

ACTEC today released its video, Gender Inequality in the Legal Profession, examining how the profession fares on the issue of gender equity, particularly in trust and estate litigation.

Gender Inequality in the Legal Profession

Four ACTEC Fellows discuss gender issues in Estate Planning, both from a client’s perspective and from an attorney’s perspective.

Capitol Letter #52 - Greenbook Includes Deemed Realization

Capital Letter No. 52 breaks down the important elements of the deemed realization proposal.

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How to Choose an Estate Planning Attorney

Finding and choosing an estate planning attorney can be intimidating. Learn where you can go online to find qualified estate planning attorneys.

ACTEC Submits Recommendations to IRS for 2021-2022 Priority Guidance Plan

Recommendations submitted are pursuant to Notice 2021-28, 2021-18 I.R.B. 1130.

ACTEC Submits Recommendations to IRS for 2021-2022 Priority Guidance Plan

Recommendations submitted are pursuant to Notice 2021-28, 2021-18 I.R.B. 1130.

Protecting Yourself and your Clients from Cyberattack

Tips for wealth managers to share with clients to prevent cybercrime and identity theft, from a former FBI cybersecurity agent.

An Update of Qualified Opportunity Funds and Zones

A summary of IRS guidance issued due to COVID-19, Notice 2021-10, to qualified opportunity funds investors and qualified opportunity fund zones.

ACTEC Submits a Report with Recommendations to Revise IRC Section 6166

ACTEC submits a Report with recommendations to revise IRC Section 6166 and to propose the enactment of a new IRC Section 6166A.

Alternatives to Guardianship

Learn about alternatives to guardianship including revocable trusts, POA, medical orders and social security options from experts.

Defined Value Purchase Agreements

Advice to help your business clients transfer their business interests using a defined purchase agreement.

ACTEC Comments on Questions Pertinent to the Implementation of the Corporate Transparency Act

The CTA was enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021 in response to RIN 1506-AB49 and FINCEN—2021—0005 (ANPRM).

Silent Trusts

What are the issues posed by silent trusts? Are designated representatives a solution to silent trusts? Learn more.

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The Importance of Cultural Competence in Estate Planning

Two ACTEC Fellows discuss how cultural competence can help trust and estate attorneys be more effective in practices with increasingly diverse clients.

ACTEC Releases Video on the Importance of Cultural Competence in Estate Planning

ACTEC releases its video, The Importance of Cultural Competence in Estate Planning, in honor of Asian American and Pacific Islander Heritage Month.

Trust Protectors

A discussion of the benefits and pitfalls of trust protectors from trust and estate experts.

Supported Decision-Making

Experts on supported decision-making explain how this alternative to guardianship works and answer many questions families may have.

Bitcoin Craze: Investment and Fiduciary Implications

What bitcoin investment considerations should estate planners study and what are the fiduciary responsibilities around those investments?

Gorin's Business Succession News (First Quarter 2021)

IN THIS ISSUE: Business Opportunities, Taxpayer Asserts Substance Over Form, Unincorporated Entity as S Corporation, and Blog Posts & Upcoming Events

ACTEC comments concerning IRS Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent

ACTEC is pleased to submit the attached comments on IRS Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent.

ACTEC Statement Condemning Violence Against Asian Americans and Pacific Islanders

Ann B. Burns, President of the ACTEC, today issued a statement regarding the recent spate of violent attacks against Asian-Americans and Pacific Islanders.

Electronic Wills in Florida

A review of Florida’s Electronic Wills legislation including who’s a qualified custodian of e-wills and what is a vulnerable adult.

ACTEC Releases Video on Increasing Diversity in the Legal Profession

How to Increase Diversity in the Legal Profession, the fifth video in the Planning for a Diverse and Equitable Future series, was released on Monday.

New Corporate Transparency Act

Important takeaways of what lawyers and estate planners need to know about the Corporate Transparency Act, CTA.

ACTEC Request For Further Postponement Relief for Tax Return Filings, Tax Payments, and Certain Other Matters Due to the COVID-19 Emergency

ACTEC submits request to Treasury & IRS for further postponement relief for tax return filings, tax payments, and certain other matters due to COVID.

How to Increase Diversity in the Legal Profession

Advice on how to increase diversity in the legal profession, law firms, mentor, sponsor, recruit and retain diverse people.

Should your Adult Child be a Co-Signer on your Bank Account?

Estate planning experts explain why it is a bad idea to have an adult child as a co-signer on a bank account.

ACTEC Elects 43 New Fellows to the College

The select group spans the US and includes seven international Fellows representing Buenos Aires, Argentina; Hamilton, Bermuda; London, England; Paris, France; Vaduz, Liechtenstein; Caracas, Venezuela; and Zurich, Switzerland; as well as two Academic Fellows.

The Senate Went Blue, What Should Estate Planners Do?

Leaders in the T&E field offer estate planning tips for 2021, insight into possible changes to the tax code and options for tax planning.

Uniform Trust Code Cases from 2020

An update on how Kansas, Kentucky and Nebraska have applied Uniform Trust Code, UTC, in 2020 cases.

ACTEC Elects 12 New Regents to Board of Regents

ACTEC today announced that 12 new Regents were elected to its Board of Regents at the College’s Annual Business Meeting held virtually Tuesday, March 2, 2021.

ACTEC Announces Ann B. Burns as New President

ACTEC today announced that Ann B. Burns will serve as the College’s new President. Burns, a partner at Lathrop GPM LLP in Minneapolis, MO.

Charitable Giving: Remembering the Basics

This podcast offers a reminder of charitable giving basics, what to pay attention to, and takeaways from 2020 Tax Court cases on the topic.

Inheritance and Estate Settlement

Experts in estate planning answer common questions regarding when beneficiaries of a will or trust will receive their inheritance.

Video Games and Money Laundering

A look into video games, online gaming, and how bad actors are using these platforms for money laundering in this evolving and fast moving industry.

Giving from the Heart: Driving Diversity, Equity and Inclusion through Philanthropy

Charitable donation advisors offer their recommendations for increasing client awareness of diversity, inequity and inclusion causes.

Attorney-Client Privilege - Waivers and Exceptions

Learn from ACTEC trust and estate planning experts when attorney client privilege can be waived or except.

Biometric Recognition Cases

Learn about the latest legal developments with regard to the Biometric Information Privacy Act, biometric recognition and an individual’s personal privacy.

Common Ways to Title Your Home

Understand your options when titling your home Tenancy by the Entirety, Joint Tenants with Rights of Survivorship and Tenancy in Common, as well ownership methods in community property states and more.

Litigation Issues in Buying and Selling Art

An expert on art law, Nicholas O’Donnell, offers his tips and questions to avoid litigation when selling or buying fine art.

Litigation Issues in Art Law

Tips that dealers, buyers, and collectors can use to determine their art’s provenance risk exposure.

ACTEC Releases Docu-Style Video in Honor of Black History Month

In honor of Black History Month, ACTEC released Wills, Slavery and Probate - The Legacy of Lucy Sutton, a docu-style video spotlighting the story of ACTEC Fellow Terrence M. Franklin’s discovery of a will executed 170 years ago, with distinct bearing on his ancestors’ survival and his existence.

Wills, Slavery and Probate: The Legacy of Lucy Sutton

A powerful story of a family’s journey from slavery to freedom thanks to a Last Will and Testament. This episode is in honor of Black History Month.

Estate Planning with Art

Estate planning art expert explains the options art owners have to dispose of their assets - selling, gifting or donating art collections.

Social Security Retirement Age and Benefits

Understand when you should take Social Security retirement benefits and how the decision may result in a reduction of income for dependents.

Capitol Letter #51 - Top Ten Estate Planning and Estate Tax Developments of 2020

Ronald D. Aucutt offers his "top ten" developments in estate planning, including societal health and racial justice issues, the election, and more.

How to Protect Inherited Assets from a Beneficiary's Creditors in the Event of a Divorce

How to help clients structure trusts so that the inheritances to beneficiaries are protected in the event of a divorce.

Treasury and IRS's Priority Guidance Plan

A recap of the Treasury Department and IRS’s Priority Guidance Plan for the 12 months from July 2020 through June 2021.

Gorin's Business Succession News (Fourth Quarter 2020)

IN THIS ISSUE: Sale from One Trust to Another, Loss for Worthless Business, Partnership Audit Rules, and Blog Posts & Upcoming Events

ERISA, Qualified Plans and Divorce

An explanation of beneficiary designations and income tax consequences related to ERISA and qualified plans during divorce.

ACTEC Releases Video Advising on Transgender Vital Records Changes

ACTEC released today its video on the importance of updating vital records for those who identify as LGBTQ, Transgender? How to Legally Change Your Name, Gender and Vital Records. This is the second video in its monthly informational series – Planning for a Diverse and Equitable Future, a project of ACTEC’s Diversity, Equity and Inclusivity Committee, funded by The ACTEC Foundation.

Transgender? How to Legally Change Your Name, Gender and Vital Records.

Changing your Name and Gender - Information for attorneys and individuals on how to update transgender people’s legal documents.

Owning Property and Titling Assets

An overview of how to title property - joint ownership, tenancy in common, joint tenancy with right of survivorship, tenants by the entirety and community property.

ACTEC Comments on Treasury's Proposed Regulations Under Section 1061

An overview of comments ACTEC submitted to Treasury on 10/5/20 issues regarding proposed regulations under IRS Code Section 1061.

Gift Tax Exemption

Learn about the significance of gift tax exemption and estate tax exemption when considering a lifetime gift in estate planning.

COVID-19 in America's Nursing Homes

COVID-19 has ravaged U.S. nursing homes. Professor David English offers valuable information, resources and guidance for 2020 and beyond.

Gifts to Married Beneficiaries Living in Community Property States

Gifts of assets, securities or cash to beneficiaries in community property states can be complicated. Here’s what you need to know.

ACTEC Launches Video Series Addressing Diversity and Inequality in America

ACTEC today released the first video in its newly developed series – Planning for a Diverse and Equitable Future.

Economic Inequality in America

A discussion of economic inequality of people of color in the US and actions wealth management professionals can take to promote generational wealth.

Who Pays on a Gift?

Learn about the significance of gift tax exemption and estate tax exemption when considering a lifetime gift in estate planning.

Potential Anti-Abuse Rules and a Client's Remaining Gift Tax Exemption

Learn about the risks of using gift and estate tax exemption potential anti-abuse regulations that are set to expire in 2025 from guest presenter Katie Lynagh of Milbank in NYC.

Capitol Letter #50 - 2020-2021 Treasury-IRS Priority Guidance Plan

Capital Letter No. 50 offers commentary on the compilation of guidance projects the Treasury and IRS intend to focus on for the next seven months.

Truth, Transparency, and the Right of Privacy | Part 3 of 3

The conclusion of the lecture “Truth, Transparency, and the Right of Privacy.” Duncan E. Osborne shares his views on balancing attorney-client privilege and an individual’s right to privacy.

ACTEC Elects 33 New Fellows to the College

The Board of Regents of ACTEC met during its Virtual Fall Meeting to consider nominations for a new class of Fellows. The College is pleased to announce that 33 individuals were elected. This select group spans the US and includes three international Fellows representing Canada, Cayman Islands and the Channel Islands.

ACTEC Family Estate Planning Guide

ACTEC Fellow and Executive Producer Stacy Singer describes the value of the ACTEC Family Estate Planning Guide videos where Fellows explain trust and estate planning basics.

Truth, Transparency, and the Right of Privacy | Part 2 of 3

Part 2 of the lecture “Truth, Transparency, and the Right of Privacy.” Duncan E. Osborne, a chair of the Financial Action Task Force (FATF) and past-president of ACTEC, shares lessons learned from FATF.

National Philanthropy Week

Learn more about The ACTEC Foundation’s philanthropy that impacts legal education, law students, wills for underserved communities and more.

National Philanthropy Week

How will you celebrate National Philanthropy Week? Learn more about Charitable Giving and how to positively communicate your intentions in a will.

Truth, Transparency, and the Right of Privacy - Part 1 of 3

Part 1 of the Annual Trachtman Lecture: “Truth, Transparency, and the Right of Privacy” from Duncan E. Osborne, a chair of the Financial Action Task Force (FATF) and past-president of ACTEC.

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Racism, Discrimination, and the Wealth Gap

Renowned author and award-winning columnist Rochelle Riley discusses how wealth disparity relates to the estates and trusts practice and effectuating change to diminish the racial wealth gap in this 80-minute webinar.

What is a Prenuptial Agreement?

Learn when it’s important to create a premarital agreement and what to consider if you live in a community property state from ACTEC Fellows.

Truth, Transparency, and the Right of Privacy | Synopsis

A discussion of how truth, transparency, and an individual’s right to privacy affect attorney-client privilege and the law

Mary Moers Wenig Student Writing Competition

Learn how the Mary Moers Wenig Student Writing Competition impacted ACTEC Fellow Tye Klooser's career in this Voices of the ACTEC Foundation video.

Dennis I. Belcher Young Leaders video

Learn how your donation to The ACTEC Foundation supports the Dennis I. Belcher Young Leaders Program and helped new lawyers engage in the T&E community.

What is Community Property?

Understand what community property is, how it affects assets such as a home or a business, what is quasi-community property and more.

How DNA Testing is Shaking Up Estate Plans

A discussion of the impact of DNA testing on inheritance, intestacy laws, surrogacy, and use of frozen embryos postmortem.

Family Office Investment Partnerships

An estate planning expert explains the potential business planning issues when giving a family office an interest in an investment partnership it manages.

ACTEC comments on Treasury Notice 85

ACTEC comments on Treasury Notice 85 Fed. Reg. 49754 and commends Treasury and the IRS for drafting such a well-organized package of proposed regulations under Code Section 1061.

Enforcement of Charitable Donation Restrictions

An explanation of what donors need to consider when making a charitable donation to a nonprofit? What restrictions need to be thought through?

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Motivating Heirs with an Incentive Trust

Learn the benefits and pitfalls of incentive trusts when motiving heirs or beneficiaries and rewarding behavior.

Charitable Endowment Fund Restrictions on Borrowing

A review of the dangers of borrowing from a charitable endowment fund during the 2020 pandemic and financial crisis.

ACTEC Past President L. Henry Gissel, Jr., a Leader of ACTEC and the Estate Planning Field

The American College of Trust and Estate Counsel mourns the death of ACTEC’s 41st President L. Henry Gissel, Jr., who passed away on Tuesday, September 15, 2020.

Ante-Mortem Probate as the Ultimate Will Contest Prevention Technique

What is ante-mortem probate? How does it differ from premortem probate and is it the ultimate will contest prevention technique?

The Ethics of Disclosure and Testimony by Estate Planners

A discussion of disclosure, attorney–client privilege, work-product doctrine, and what to keep in mind in the event of a will or trust contest.

Gift Tax, the Annual Exclusion and Estate Planning

Understand when gift tax comes into play, how the age of the recipient impacts gift tax, efficient ways to transfer property, the annual exclusion and more from experts.

Trusts for Disabled and Chronically Ill Beneficiaries under the SECURE Act

An explanation of how the SECURE Act impacts special needs trusts, AMBTs, and disabled and chronically ill beneficiaries from experts in the subject.

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The American College of Trust and Estate Counsel Develops Essential Planning Resources for Individuals, Families and Professionals During COVID-19 Pandemic

Fellows of ACTEC are sharing their planning expertise via a new resource portal accessible to assist individuals, families, trust and estate lawyers, students and wealth management professionals.

Pending Transfer Tax Legislation in an Election Year

Unique insight into possible estate and gift tax legislation, transfer tax legislation, during and following the 2020 election year.

Ancillary Estate Planning Documents in the Pandemic

Reviewing and creating estate planning documents - POA, medical directives and living wills during the COVID-19 pandemic.

ACTEC/NCPJ Task Force Articles on Trusts and Trust Administration

The ACTEC/NCPJ Task Force is pleased to announce one of its recent accomplishments, the articles on Trusts and Trust Administration. These have been published in the NCPJ Spring 2020 Journal.

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Estate Planning in the 2020 Election Year

Learn what steps taxpayers may want to consider in light of the 2020 election, and how to plan for future legislation, changes in the estate gift tax exemption and charitable giving.

Estate Planning Strategies in the Pandemic

2020 estate planning strategies including the gift tax annual exclusion, IRS code 2503(e), low interest loans to family, SLATs and CLTs.

American College of Trust and Estate Counsel Submits Two-Part Regulatory Comments to IRS and Treasury Addressing SECURE Act Issues

ACTEC today announced the submission of two-part regulatory comments to Treasury and the Internal Revenue Service (IRS) addressing issues raised by changes to required minimum distributions (RMDs) after the death of an employee, found in Section 401 of the SECURE Act of 2019.

Estate Planning Strategies for Retiring Abroad

Retiring abroad? Learn what estate planning information to keep in mind when moving overseas, such as if your will be valid in another country, guardianship considerations when moving with minor children, and more.

Grantor Trusts: Tax Returns, Reporting Requirements and Options

An expert estate planning attorney reviews the options available for reporting the income tax from grantor trusts.

ACTEC submits Part 2 of its request for guidance from Treasury regarding v b b Section 401 of the SECURE Act

ACTEC submits Part 2 of its request for guidance from Treasury regarding v b b Section 401 of the SECURE Act, providing Treasury with detailed and comprehensive comments that address varying issues under the SECURE Act. (July 29, 2020)

Naming Foreign Persons in Your Estate Planning Documents

Information for estate planners when a will or trust includes a beneficiary who resides abroad including residents of Israel and the UK.

Tax Tips and Traps Related to Foreign Gifts

An explanation of how gifts from non-US persons can pass completely free of US gift tax if they are done correctly.

ACTEC requests guidance from Treasury raised by the changes to RMDs after the death of an Employee

ACTEC requests guidance from Treasury that will assist taxpayers with issues raised by the changes to the required minimum distributions (“RMDs”) after the death of an Employee found in Section 401 of the Setting Every Community Up for Retirement Enhancement Act of 2019, Pub. L. 116–94, part of the Further Consolidated Appropriations Act, 2020 (the “SECURE Act”) (July 14, 2020)

The American College of Trust and Estate Counsel Statement Condemning Racism

ACTEC has issued a statement regarding recent events stoking civil unrest, delineating the College’s position and commitment to the renouncement of racism in all its forms.

ACTEC Statement Condemning Racism

Stephen R. Akers, President of the American College of Trust and Estate Counsel (ACTEC), today issued a statement regarding recent events stoking civil unrest, delineating the College’s position and commitment to the renouncement of racism in all its forms.

Utilization of Section 7872

A deep dive into IRS Code Section 7872 and how to utilize the code in intrafamily loans and split-dollar loans.

Gorin's Business Succession News (Second Quarter 2020)

IN THIS ISSUE: Pass-Through Entities Held by Trusts, Formula Transfers for Estate Planning, Business Gifts When Selling a Business and Blog Posts & Upcoming Events

Estate Planning Considerations for Small Business Owners

Small business owners need to plan for the transition of their company in their estate plan. Learn about the impact of state laws, multiple beneficiaries, how to plan for estate taxes and more.

The Uses and Abuses of Charitable LLCs

An overview of how Charitable LLCs can be used legitimately and possibly abused when pushed too far.

Drafting Charitable Gift Agreements

A trust and estate expert discusses charitable gift agreements and the necessary preparation for negotiating and drafting an agreement to protect the client, whether representing a charity or a donor.

Estate Planning for Entertainment Clients

ACTEC Fellow Chang H. Chae discusses issues related to clients in the entertainment industry, such as name and likeness rights and house trusts and how terms of their planning specifically relate to the assets or the rights that they have.

ACTEC submits comments on Treasury Notice 85 Fed. Reg. 27693

Proposed Regulations on Income Tax Regulations (26 CFR part 1) under sections 67 and 642 of the Internal Revenue Code (June 22, 2020)

Utilizing Positive Psychology in Your Estate Plan

Learn the role of positive psychology and communication when creating your estate plan and leaving assets to family and beneficiaries.

Lending and Estate Planning

Estate planning lending techniques including a Graegin loan, GRAT, IDGT, and life insurance premium financing.

Estate Transfer Planning for the Moderate Estate

Estate planning experts discuss the gifting risks for moderate estates that want the flexibility to access assets in the future.

An Update on Electronic Wills Statutes

A discussion of The Uniform Law Commission’s new Electronic Wills Act from ACTEC Fellows that chaired the drafting committee.

Can I Change My Irrevocable Trust?

Learn what changing an irrevocable trust entails, what it means to decant a trust, what courts can do and other pitfalls from trust and estate experts.

What Estate Planners Need to Know About Medicare

An explanation of how Medicare benefits work, especially Medicare Parts A, B, D, disability requirements and the penalties associated with not enrolling on time.

Charitable Planning and the SECURE Act

Understanding the pitfalls and tax traps when donating from an IRA to a charity under the SECURE Act. An explanation of how Charitable Remainder Trusts (CRTs) and charitable giving has changed.

Planning for Disabled or Chronically-Ill Beneficiaries Under the SECURE Act

The new SECURE Act provides tailored treatment for special needs and disabled beneficiaries. Learn how the SECURE Act impacts these special beneficiary categories.

Special Needs Trusts

Estate planning experts explain the different types of special needs trusts, what to consider to avoid losing public benefits like Medicaid, and other potential pitfalls.

Designing and Drafting Trusts in Light of the SECURE

Conduit and accumulation trusts have changed under the SECURE Act. Learn how to mix and match under the new law.

Planning for Common Scenarios Under the SECURE Act

Understanding the SECURE Act’s impact on common estate planning issues such as naming surviving spouses and adult children as beneficiaries.

ACTEC submits request for guidance from Treasury regarding Section 2203 of the CARES Act

April 24, 2020

Updating Existing Estate Plans Under the SECURE Act

ACTEC Fellow offers recommendations for trust and estate attorneys as to what to discuss with clients and next steps following the SECURE Act.

ACTEC Elects 32 New Fellows to the College

The College is pleased to announce that 32 individuals were elected. This select group spans the US and includes six international Fellows representing Hamilton, Bermuda; Sao Paulo, Brazil; Milan, Italy; Zurich, Switzerland; and Tel Aviv, as well as one Academic Fellow.

2020-Emergency-Remote-Notary-Witness-Orders

2020 Emergency Remote Notarization and Witness Orders

In response to the COVID-19 crisis, ACTEC has created a quick reference list of the states that have acted to allow remote notarization and witness orders on an emergency basis.

Autonomy in Estate Planning | Opportunity Grant

Experts discuss how to build autonomy in estate planning with next-generation beneficiaries through trust, purpose and opportunity grants.

Getting Your Affairs in Order During COVID-19

ACTEC Advises Families on Essential Legal Documents

Surge on wills: Fearing death by coronavirus, people ask lawyers to write their last wishes

Former ACTEC President Bruce Stone speaks to the Miami Herald about updating a living will and resources available on actec.org

Getting Your Affairs in Order: Essential Legal Documents

What legal documents should we have in place to prepare for an emergency, such as the Coronavirus pandemic? Learn more about a Durable Power of Attorney (aka Financial Power of Attorney) and Advanced Healthcare Directives - Healthcare Proxy, Living Will - in this critical video from an elder law expert.

The American College of Trust and Estate Counsel Releases 100th Podcast Special Episode

The American College of Trust and Estate Counsel (ACTEC) today released a 100th podcast special episode underscoring the significance of its now weekly series, ACTEC Trust and Estate Talk, launched in 2018. ACTEC podcasts offer the expertise of Fellows who provide best practice advice, insights and commentary on subjects relevant to those in the wealth management profession.

Request for Guidance from Treasury Regarding SECURE Act

ACTEC request for interim guidance from Treasury that ACTEC believes will be needed by taxpayers in 2020 to adequately address the changes the SECURE Act made in the law relating to distributions from inherited plan accounts and IRAs after the death of the plan participant or IRA owner March 31, 2020.

Looking Back at Our Most Popular Podcasts | 100th Special

Balancing independence of retirees, the SECURE Act and other 2020 estate planning hot topics are discussed in this special 100th ACTEC Trust and Estate Talk podcast.

The American College of Trust and Estate Counsel Elects 12 New Regents to Board of Regents

The American College of Trust and Estate Counsel (ACTEC) today announced that 12 new Regents were elected to its Board of Regents at the College’s Annual Business Meeting held Friday, March 6, 2020 in Boca Raton, Florida. ACTEC’s Board of Regents is the governing body of the College.

ACTEC submits memorandum setting forth its request for further postponement relief for tax return filings, tax payments, and certain other matters due to the COVID-19 emergency

March 27, 2020

How the SECURE Act May Impact Your Retirement Plan

The SECURE Act, enacted in December 2019, changes everything in regard to estate planning with retirement benefits. Learn what you need to know from the experts at ACTEC.

CNBC references the American College of Trust and Estate Counsel for expertise in estate planning

Coronavirus fears: You have money questions, CNBC asked experts to answer them

The Intersection of Positive Psychology in Estate Planning

ACTEC Fellows discuss the importance of creating positive experiences for beneficiaries in your estate plan.

The American College of Trust and Estate Counsel Names Stephen R. Akers as New President

The American College of Trust and Estate Counsel (ACTEC) today announced that Stephen R. Akers will serve as the College’s new President. Akers, Managing Director and Senior Fiduciary Counsel at Bessemer Trust in Dallas, Texas succeeds ACTEC Fellow John A. Terrill, II from West Conshohocken, Pennsylvania.

Resolving Trustee Deadlocks

What can you do when co-trustees disagree? How can you resolve trustee deadlocks? Learn more in this podcast.

Alternative Investments: An Investment Dream - A Planning Nightmare

An explanation of the characteristics of alternative investments, the risks associated with them, and how the risks can be addressed in the estate planning process.

Estate Planning for a College Student or Young Adult

Understand what documents you should discuss and prepare for your college-bound and young adult when they turn 18, a legal adult.

How Guardians Make Decisions on Behalf of Their Wards

Learn about the guardianship policies of substituted judgment and best interest that guardians should consider when making decisions for a vulnerable person.

Cross-Border Recognition of Powers of Attorney and Guardianships

Powers of Attorney and Guardianship vary from state to state and internationally. Learn more about their portability and what’s recognized overseas.

What Estate Planners Need to Know About Social Security, Medicare, and the Self-Employment Tax

Social Security and Medicare, the federal and state income taxation of Social Security, the ability of dependents to receive those benefits, self-employment tax and more in this podcast.

Transferring Assets to a Minor Child

Find out more about how to transfer assets to minor children, the Uniform Transfers to Minors Act (UTMA), 529 plans, naming a caregiver for a minor child in a Will and more from Fellows of The American College of Trust and Estate Counsel, ACTEC.

Judicial Notice of Facts and Judicial Notice of Law

ACTEC Fellows explain the impact of judicial notice of facts and judicial notice of law surrounding evidence and litigation of trusts and estates.

President's Letter (February 2020)

Feb 11, 2020 11:00 AM

Message from ACTEC President John A. Terrill, II

Lay Witness Opinion Testimony

The ins and outs of lay witness option testimony. A discussion of evidentiary issues surrounding lay people and Federal Rules of Evidence.

Intrafamily Business Sales and Loans

What to keep in mind when dealing with intrafamily business transactions, sales, and loans to avoid the scrutiny they receive from the IRS and the courts.

A Child's Right to Information When a Parent Dies

What are your rights to information in a Will after the death of your parent or relative? Do you need a lawyer? Do you have to accept the bequeathed item? Learn the answers to these questions and more in this short video.

The Remainder Purchase Marital Trust

A detailed analysis of the advantages and considerations when using a Remainder Purchase Marital Trust, RPM Trust.

Capitol Letter #49 - Top Ten Estate Planning and Estate Tax Developments of 2019

ACTEC Fellow Ronald D. Aucutt offers his "top ten" developments in estate planning, including valuation, the power to tax, calculation of tax, income tax deductions, retirement planning, and wills.

Gorin's Business Succession News (Fourth Quarter 2019)

IN THIS ISSUE: Income Tax on Sale of Interest in Trust, Negative Capital Accounts: Reporting and Planning Issues, Final Regs on Life Insurance Transfer for Value Income Taxation, and Blog Posts & Upcoming Events

Business Entity Income Tax: Regulatory Rigidity Verses Flexibility

An explanation of the rigidity and flexibility of different business entities: C corporations, S corporations, partnerships and LLCs by tax experts.

S Corporation Death Traps

What happens when the principal shareholder of an S corporation dies? Solutions are discussed by estate planning experts.

Coordinating Beneficiary Designations with the Overall Estate Plan

Assets such as life insurance, annuities, pension plans, 401ks and IRAs have beneficiary designation forms as part of the set-up process. ACTEC Fellows explain what you need to know about coordinating beneficiary designations with your overall estate plan.

Levitan v. Rosen Case

Are trusts considered marital property? A review of the Levitan v. Rosen and Pfannenstiehl v. Pfannenstiehl cases offer considerations when drafting of marital property provisions in trust documents.

The Life Insurance Transfer for Value Rule After the 2017 Tax Reform Act

What is the Life Insurance Transfer for Value Rule and how has it been changed following the Tax Reform Act? An expert on the topic explains what you need to know.

Update of Asset Protection Trust Litigation

A review of recent asset protection trust court cases - Wacker, Campbell, Cyr and Rensin - and offers the lessons learned from the rulings.

Self-Settled Spendthrift Trusts

Understand how to minimize the risks and avoid fraudulent transfer rulings with creating self-settled spendthrift trusts.

Self-Settled Spendthrift Trusts

Understand how to minimize the risks and avoid fraudulent transfer rulings with creating self-settled spendthrift trusts.

The New Illinois Trust Code

An overview of the new Illinois Trust Code, which is based on the Uniform Trust Code, by a veteran member of the task force.

Digital Asset Management in Life and Death

Understand how to plan and manage your digital assets such as photos, email accounts and passwords during life and in your estate documents.

Deemed Realization of Gains on Gratuitous Transfers

A discussion of ACTEC’s report provided to the US government on proposals to tax the deemed realization of gain on gratuitous transfers of appreciated property.

Qualified Opportunity Funds and Opportunity Zones

A deep dive into the benefits and concerns of Qualified Opportunity Funds and Opportunity Zones proposed regulations.

The American College of Trust and Estate Counsel Elects 42 New Fellows

The Board of Regents of the American College of Trust and Estate Counsel (ACTEC) convened during the College’s Fall Meeting in Philadelphia, PA to consider nominations for a new class of Fellows. The College is pleased to announce that 42 individuals were elected. This select group spans the US and includes four international Fellows representing Toronto, Montreal, London and Tel Aviv.

The SECURE Act

Understand the impacts of the SECURE Act and how it may affect non-spouse beneficiaries of retirement accounts.

The Impact of Tax Reform on Trusts After Divorce

The Tax Cut and Jobs Act had an enormous impact on existing trusts after divorce. Understand the impact and learn about ACTEC’s comments to the government and solutions to consider.

Capitol Letter #48

ACTEC Fellow Ronald D. Aucutt offers insight, perspective, and commentary on the past ten years of disrupted tax guidance from the federal government in his latest Capital Letter.

An Introduction to Charitable Pledges

How do charitable pledges work for both the donor and charity? Learn the basics in this podcast from trust and estate experts.

An Introduction to Individual Donor Advised Funds

An introduction to Individual Donor Advised Funds, the rules and advantages when compared to a private foundation.

Report on Proposals to Tax the Deemed Realization of Gain on Gratuitous Transfers of Appreciated Property

ACTEC is pleased to submit the enclosed report on proposals to tax the deemed realization of gain on gratuitous transfers of appreciated property

Deferred and Flexible Charitable Gift Annuities

Understand how Charitable Gift Annuities, CGA, can be structured with predictable and/or flexible payment streams.

Charitable Gift Annuities

A Charitable Gift Annuity is a simple and cost effective estate planning tool that benefits charities and donors during their lifetime. Learn more from an expert on the subject.

2019-2021 Class of Dennis I. Belcher Young Leaders

The ACTEC Foundation is pleased to announce the fifth class of Dennis I. Belcher ACTEC Young Leaders.

Gorin's Business Succession News (Third Quarter 2019)

IN THIS ISSUE: Code § 199A Final Safe Harbor for Rental Real Estate, Recent Developments in Partnership Structural Issues, Taxing Sale of Intangible Assets and Blog Posts & Upcoming Events

A Primer on Charitable Lead Trusts

An overview of Charitable Lead Trusts including CLAT, CLUT, Grantor and Nongrantor Trusts from an estate expert.

Charitable Remainder Trusts (CRT)

Overview of Charitable Remainder Trusts, CRT, including CRAT, CRUT, Split-Interest Trusts and answers to frequently asked questions on the topic.

The ACTEC Foundation Announces Mary Moers Wenig 2019 Student Writing Competition Winners

The American College of Trust and Estate Counsel (ACTEC) Foundation today announced the 2019 winners of the Mary Moers Wenig Student Writing Competition. Five law students were selected among twelve entries received and reviewed by a panel of judges appointed by the Legal Education Committee of the College.

An Introduction to Private Foundation Excise Taxes

Complying with regulatory restrictions of private foundations can be confusing. Understand the issues that may arise and how to avoid excise taxes from an expert on the subject.

A Primer on Private Foundations

A primer on creating a charitable private foundation, federal tax rules, state laws and required corporate documents.

Choosing an Executor or Trustee

Selecting an executor or trustee to oversee your will or trust requires careful consideration. ACTEC Fellows clarify the duties of an executor or trustee, traits to look for when selecting an individual(s) executor or trustee and when to consider a corporate trustee in this short video.

An Introduction to Individual Charitable Deductions

What you need to know regarding income tax charitable deductions for individuals following the 2017 Tax Cuts and Job Act from an estate planning expert.

Basic Charitable Giving

Overview of the fundamentals of basic charitable giving including income tax, the estate and gift tax, and donating to a foreign charity.

Balancing Independence and Vulnerability of Older Adults - Part 3

Learn what lawyers and society can do to protect an older adult’s independence and reduce stereotypes - especially women – from elder financial abuse.

Balancing Independence and Vulnerability of Older Adults - Part 2

Elder financial abuse and who commits it, how we can help protect the autonomy of older adults and understand what the law can do to protect against such abuses.

Divorce and Estate Planning

Going through a divorce can be emotionally and financially stressful. Knowledge is power. Understand what estate planning documents are impacted by a divorce from lawyers with an expertise in estate planning. ACTEC Fellows explain why in this short video.

Balancing Independence and Vulnerability of Older Adults - Part 1

Many women have a longer lifespan than men. How does the differing longevity impact financial management and potential vulnerabilities?

Balancing Independence and Vulnerability of Older Adults - Synopsis

How do attorneys balance an older client’s independence while protecting their assets? Professor Radford offers a synopsis of her 3-part lecture that begins August 6.

North Carolina v. Kaestner: The Recent US Supreme Court Case on State Fiduciary Income Tax

Understand the effect on trusts and how to minimize state income tax following the Supreme Court’s decision in North Carolina v. Kaestner.

The Uniform Trust Code and the Future of American Trust Law

A discussion of the evolution of the Uniform Trust Code and the changes in trust and estate design and administration.

Gorin's Business Succession News (Second Quarter 2019)

IN THIS ISSUE: Recent Supreme Court Decision on State Fiduciary Income Taxation , Recent Developments in S Corporation Ownership and Shareholder Agreements, Basis Step-Up; Trust Modifications and Blog Posts & Upcoming Events

President's Letter (July 2019)

Jul 15, 2019 11:00 AM

Message from ACTEC President John A. Terrill, II

Should I Sign New Estate Planning Documents When I Move to a New State?

Individuals and families need to update estate planning documents when relocating to a new state. ACTEC Fellows explain why in this short video.

Depublication of the Special Needs Trust Case Scott v. McDonald

California Supreme Court depublishes Special Needs Trust Case Scott v. McDonald following Amicus Brief by ACTEC.

Marriage, Divorce and Asset Protection

Tips to protect assets in prenuptial agreements, divorce agreements, and how to manage associated estate taxes.

ACTEC Comments on Proposed Regulations on Qualified Opportunity Funds under Code Section 1400Z-2

ACTEC is pleased to submit the enclosed comments pursuant to Treasury Notice 84 Fed. Reg. 18652, published in the Federal Register on May 1, 2019.

The US-Japan Estate, Inheritance and Gift Tax Treaty

Trust and estate expert explain the importance of the US-Japan Estate, Inheritance and Gift Tax Treaty and how it works.

Supreme Court Rules in Trust Tax Case Following Amicus Brief Filed by The American College of Trust and Estate Counsel

The United States Supreme Court today ruled in a unanimous opinion against North Carolina in a trust tax case. The American College of Trust and Estate Counsel (ACTEC) filed an influential amicus brief in March, The North Carolina Department of Revenue v. The Kimberly Rice Kaestner 1992 Family Trust. The Supreme Court decision determined that a trust beneficiary’s residence in a state does not establish a necessary connection for the state to tax the trust.

Investment in UK Real Estate and Protected Settlement Update

Update on UK tax treatment of offshore income gains arising in protected settlements and how investing in UK real estate impact US citizens.

What is a Will and Why Do I Need One?

Experts in estate planning answer questions families often ask about Wills, associated documents, beneficiaries and e-wills.

The New Uniform Fiduciary Income and Principal Act

A discussion of the Uniform Law Commission’s new Uniform Fiduciary Income and Principal Act, UFIPA, created in July 2018.

ACTEC recommendations for 2019-2020 Priority Guidance Plan (Notice 2019-30)

ACTEC is pleased to submit recommendations pursuant to Notice 2019-30, which invites recommendations for items that should be included on the 2019-2020 Priority Guidance Plan.

Third-Party Created Irrevocable Trusts: Protections and Pitfalls

Understand the ins-and-outs of third-party created irrevocable trust, examples and how they might vary between states.

The New Rules of Professional Conduct for Lawyers

A discussion of the interplay of four of the ABA’s Model Rules of Professional Conduct surrounding scope of representation, communication, confidentiality, and conflict of interest.

Lawyers as Trustees

How should a trust and estate attorney navigate the ethical and legal dilemma that occurs when a client asks for him or her to serve as a trustee?

Marrying into Elder Abuse

Elder abuse by marrying to obtain wealth is on the rise. Understand the inadequate and new laws surrounding the issue.

IRAs and IRA Beneficiaries

IRA beneficiary designations can be confusing. Learn the essentials of IRAs and naming IRA beneficiaries from trust and estate experts.

Lessons Learned Regarding Firm's Email Communication

Lessons learned after a court email of an order goes into a law firm’s spam filter. Understand what email management steps law firms should follow.

The Future is Here: Dealing with Bitcoins and Cryptocurrencies in Tax and Estate Planning

There are over 2,000 cryptocurrencies! Experts explain what fiduciaries and trust and estate practitioners need to know.

Florida Fellows Institute Recognizes Class IV Graduates

FORT MYERS, Fla. (April 24, 2019) – The Florida Fellows Institute of The American College of Trust and Estate Counsel, ACTEC, recently recognized 29 graduates of the program’s fourth class.

Understanding Power of Attorney

ACTEC Fellow Bernie Krooks explains in this video presentation for families why a Power of Attorney, POA, is the most important estate planning document you can sign. Learn the answers to critical questions such as: How can I make sure my family receives my asset after death? Can I download a POA from the Internet? Is a Power of Attorney revocable? and much more.

Musings on Contemporary Trust Issues

Issues facing the ULC regarding the Uniform Power of Appointment Act and the Uniform Directed Trust Act with an expert on the subject.

CFCs, PFICs and Specified Foreign Corporations after Tax Reform: What Every Estate Planner Needs to Know

By Ellen K. Harrison, McDermott Will & Emery and Paul S. Lee, The Northern Trust Company

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Hot Topics for Trust and Estate Practitioners

A review of 2019 hot topics for trust and estate practitioners including IRS Anti-Clawback and Section 199A regulations, GST Trust modifications and state tax developments.

Gorin's Business Succession News (First Quarter 2019)

IN THIS ISSUE: Various 2019 Guidance Regarding Code § 199A, Including Multiple Trust Rules, Guidance re Real Estate under Code § 199A, Life Insurance: Transfer for Value Rules; Special Rule re Corporate Split-Dollar, and Blog Posts & Upcoming Events

New video: How Does a Revocable Trust Avoid Probate?

ACTEC Fellows Stacy Singer and Jonathan Michael discuss in layman’s terms the ins and outs of a revocable trust and its role in managing assets and avoiding probate.

The American College of Trust and Estate Counsel (ACTEC) Elects 40 New Fellows to the College

Apr 10, 2019 02:11 PM

The Board of Regents of The American College of Trust and Estate Counsel (ACTEC) met March 24 at the 2019 Annual Meeting in La Quinta, CA to review nominations for a new class of Fellows. We are proud to announce that 40 individuals have been peer-elected to the College. This group of new Fellows spans the US, including three Fiduciary Counsel Fellows, as well as five International Fellows representing Belgium, Canada, China, and Italy.

Qualified Opportunity Funds and Opportunity Zones

ACTEC Fellow Kevin Matz explains how Qualified Opportunity Funds (QOF) and Opportunity Zones work and some of the intricacies as of March 2019.

John A. Terrill, II is the new President of ACTEC

The American College of Trust and Estate Counsel (ACTEC) is proud to announce that John A. (“Jack”) Terrill, II became President. The official “Passing of the Gavel” ceremony took place Saturday, March 23, 2019, at ACTEC’s Annual Meeting in La Quinta, California. Terrill, a partner at Heckscher, Teillon, Terrill & Sager, P.C. in West Conshohocken, Pennsylvania succeeded ACTEC Fellow Charles D. “Skip” Fox, IV from Charlottesville, Virginia.

Horton vs. Jones Case on Electronic Wills

Can a person create a valid will that is not formally executed as required by state law? Find out more about electronic wills through discussion of the Horton v. Jones case.

What is Joint Tenancy and When Should I Use It?

ACTEC Fellows answer what is joint tenancy and offer professional information regarding the topic in this short informational video.

ACTEC Resubmission Personal Holding Company Guidance from 2010

ACTEC Resubmission of guidance with respect to the coordination of the foreign corporation anti-deferral rules and subchapter J

Introducing a Business Consultant to a Client Family

ACTEC Fellows discuss best practices of how to introduce a client to a new consultant.

Amicus Brief filed with Supreme Court

An amicus brief in The North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust was filed with the Supreme Court March 1, 2019 by The American College of Trust and Estate Counsel.

ACTEC Files Amicus Brief with Supreme Court

An amicus brief in The North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust was filed on March 1, 2019, with the Supreme Court by ACTEC. This is an important case dealing with the ability of a state to tax the income of an irrevocable nongrantor trust.

The Fate of Settlor Intent in the World of Flexibility

ACTEC Fellows discuss irrevocable trusts historically to present day, recent cases, and what this means for planners, litigators, and trustees.

ACTEC Comments on IRS Notice 2018-61

regarding the effect of new section 67(g) of the Internal Revenue Code on the ability of the beneficiary to deduct amounts comprising the section 642(h)(2) excess deduction upon termination of a trust or estate

Effect of Recent Tax Reform Legislation on Divorce

ACTEC Fellow Justin Miller breaks down how the recent changes in tax reform impact divorce and taxes. Learn about the 5 big changes in tax reform on divorce from an expert in trust and estate law.

Trust Residency and State Tax Nexus Planning

ACTEC Fellows David Berek and Raj Malviya discuss the fiduciary income taxation of trusts, trust residency and taxation in light of recent development in Supreme Court and other case law.

Tax Notes Recognizes ACTEC's Comments to Treasury Regarding Section 199A

Jonathan Curry recognizes ACTEC’s comments to Treasury in his article Trust and Estate Practitioners Notch Win in 199A Regs in the January edition of Tax Notes (Volume 162, Number 4, January 28, 2019, pages 428-430).

The Unintended Consequences for Dynasty Trusts When Adoptions Are Not Recognized

ACTEC Fellow Professor Kristine Knaplund discusses the unintended consequences of adoption language in multi-generational and dynasty trusts in this ACTEC Trust and Estate Talk podcast.

ACTEC's Guide for Agents Acting Under Durable Power of Attorney

A sneak peek into ACTEC’s Guide for Agents Acting Under Power of Attorney, which will be released later this year. Learn more about the duties and responsibilities in this podcast.

Gorin's Business Succession News (Fourth Quarter 2018)

IN THIS ISSUE: Sale of C Corp Stock – Code § 1202 Exclusion and Other Issues, Intrafamily Business Transactions after 2018 Tax Court Case, Annual Charitable Contributions for Businesses after 2017 Tax Reform, and Blog Posts & Upcoming Events

Responsible Investing for the Modern Fiduciary

How does sustainable and responsible investing intersect with fiduciary duty? May a trustee consider environmental, social, and governance, ESG, factors?

The Ethical Hazards of Digital Assets

What trust and estate attorneys need to know to keep up with the advances in technology, especially in the area of digital assets is discussed by ACTEC Fellow John Rogers.

2018's Priority Guidance Plan from the IRS and Treasury

Beth Shapiro Kaufman breaks down what wealth advisors need to know about the IRS and Treasury’s release of the 2018 Priority Guidance Plan.

Information About the Department of Treasury and IRS During the Shutdown

Jan 08, 2019 02:02 PM

Link to Internal Revenue Service Lapsed Appropriations Contingency Plan

Capital Letters No. 47

Commentary by ACTEC Fellow Ronald D. Aucutt reviewing 2018 “top ten” estate planning and estate tax developments and foreshadowing items to watch in 2019 and the future.

ACTEC Comments on Treasury Notice 83 Fed. Reg. 54279 (10/29/18)

Comments on Proposed Regulations on Qualified Opportunity Funds under Code Section 1400Z-2 (December 27, 2018)

Follow Up on the 2017 Tax Cuts and Jobs Act

Congress enacted the Tax Cuts and Jobs Act of 2017 which doubled the estate, gift, and generation-skipping transfer tax exemption. Hear more about possible follow up legislation.

Section 199A and the 20% Deduction for Qualified Business Income

Discussion regarding the Department of Treasury and the Internal Revenue Service’s proposed regulations under Section 199A regarding 20% deduction for qualified business income.

Estate Planning and Trust Management for a Brave New World | Part 4 of 4

ACTEC Fellow Hugh Magill’s final episode in the lecture series discusses increased life expectancy of grantors, their beneficiaries, and the implications to trusts and estates.

Capital Letters No. 46

Ronald Aucutt, ACTEC Fellow and partner at McGuireWoods LLP, shares his expert commentary regarding Treasury's proposed “Anti-Clawback” regulations (REG-106706-18) released on November 20, 2018, and published in the Federal Register on November 23, 2018 (83 FED. REG. 59343).

Estate Planning and Trust Management for a Brave New World | Part 3 of 4

ACTEC Fellow Hugh Magill continues his lecture by discussing how trusts need to evolve to serve new family dynamics and issues in designing trusts for contemporary families.

Estate Planning and Trust Management for a Brave New World | Part 2 of 4

A presentation of how changing demographics and multiple generations impact the current world of estate planning and trust management.

Capital Letters No. 45

Ronald Aucutt, ACTEC Fellow and partner at McGuireWoods LLP, shares his expert commentary and analysis on the Treasury-IRS Priority Guidance Plan for the 12 months ending June 30, 2019, that confirms and clarifies the preview offered by the OMB’s government-wide agenda in this Capital Letter No 45.

Estate Planning and Trust Management for a Brave New World | Part 1 of 4

Estate planning and trust management across multigeneration families. How do lower marriage rate and non-traditional families affect financial planning, estate planning, financial services?

ACTEC Elects 38 New Fellows to the College

The Board of Regents of The American College of Trust and Estate Counsel (ACTEC) met October 28 at the 2018 Fall Meeting in Washington, DC to review nominations for a new class of Fellows. We are proud to announce that 38 individuals have been peer-elected to the College. This group of new Fellows spans the US, including one academic Fellow and four Fiduciary Counsel, and also an International Fellow representing France.

Lending in the Probate Context

What is probate lending and why you should consider including a spendthrift clause in a will is discussed by ACTEC Fellow Professor David Horton.

The Valuation and Reporting of Cryptocurrency on Income, Gift, and Estate Tax Returns

The valuation of cryptocurrency, IRS guidance on tax planning, and how to prepare for an appraisal are discussed by John Varga of MPI Business Valuation and Advisory.

How to Start the Formation of a Business Entity

A discussion of tax considerations when forming a business. Learn more about S corp, C corp, LLC, LLP, and tax reform in this podcast.

Capital Letters No. 44

Ronald Aucutt offers expert commentary and analysis on the Office of Management and Budget's Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions.

The ACTEC Foundation Announces Iowa Law Review Symposium Articles

ACTEC Fellow and Professor Thomas Gallanis reports that the articles from The ACTEC Foundation/Iowa Law Review symposium held at the University of Iowa College of Law on “Wealth Transfer Law in Comparative and International Perspective” are now published and available for review:

Navigating Between the Hard-Knock Life and Easy Street When Passing Assets to Children

The rights of children to receive property from intestate estates and how to pass property effectively to children is discussed by Judge Butts and ACTEC Fellow Jane Ditelberg.

ACTEC to request depublication of Scott v. McDonald case

ACTEC to request depublication of the Scott v. McDonald case pursuant to Califomia Rules of Court, Rule 8.1125.

Data Scraping

Data collection, data scraping, people analytics, UFADA and access to a decedent’s digital assets is the topic of this timely podcast.

Gorin's Business Succession News (Third Quarter 2018)

IN THIS ISSUE: Options to Combine Businesses, Specified Service Trade or Business (SSTB), Trusts are Evil (government’s apparent view), Current Materials & Comparison, and Blog Posts & Upcoming Events

The Uniform Guardianship, Conservatorship, and Other Protective Arrangements Act

An explanation of the Uniform Law Commission Act covering guardianship, conservatorship, power of attorney, protective arrangements, and guardianship of minors.

ACTEC comments on proposed regulations under Sections 199A and 643(f) (September 27, 2018)

ACTEC is pleased to submit comments pursuant to IRS and REG-107892-18, published in the Federal Register on August 16, 2018.

How to Sell a Law Practice

A discussion about how to comply with state bar rules, value the practice, and steps for selling a law practice.

Ethical Considerations in Representing Clients in Connection With Family Businesses

What are the ethical legal considerations when representing a family business? Tips on how to avoid conflict and proper estate representation.

Special Industry Concerns as they Relate to Estate Planning for Family Businesses

Franchisees, dealerships, distributorships, and particularly how third-party interests can impact estate planning for a family business.

Owner Control, Operations, and Shareholder Agreements

Understanding the importance of estate planning documents, shareholder and buy-sell agreements in family and owner-controlled businesses.

Best Practices for the Governance, Operation, and Management of a Business Entity

Understanding the legal best practices for governance, operation, and management of closely-held and family businesses as discussed by an expert.

Litigation Issues Involving Children in Estate Planning

What happens when the governing trust or estate is embroiled in litigation with beneficiaries that are children or minors? Learn more about Guardian Ad Litem and other nuances in this podcast.

Funeral Arrangements and Disposition of Human Remains

Legal and practical challenges are evolving with the respect of funeral arrangements and disposition of human remains. Listen to issues that may be avoided with proper estate planning.

Elder Financial Abuse: The Crime of the 21st Century

As the tradition of the close-knit family generation vanishes in America an epidemic of elder financial abuse is sweeping the country. ACTEC Fellows discuss this complicated topic in this podcast.

Situs and the Resident Trust

Is a change of situs a must if there are taxes to be saved? Learn more about issues pertaining to the fiduciary income tax that states impose on Trusts with Rich Greenberg, Dick Nenno, and Margaret Sager.

The Digital Will Revolution

Digital will, electronic will, e-will… no matter what you call it, practitioners will be confronted with this new type of will in the very near future. Learn more in this podcast.

Gorin's Business Succession News (Second Quarter 2018)

IN THIS ISSUE: 2036, 2038, and 2703 Expansion in Split-Dollar Case, Corporate Arrangements Disregarded, Investment Partnership Traps, Current Materials & Comparison, and Blog Posts & Upcoming Events

Pre-Contest Planning

There are many techniques that may discourage challenges to your client’s estate planning documents, including steps the planner should take/avoid taking to assure client’s wishes are followed.

9100 Relief: Jumping Through the Hoops When You Learn You have an "Oops!"

9100 Relief for missed or mishandled tax elections is broader, more frequently needed, and thus a lot more useful than many estate planners realize.

ACTEC Comments on guidance in connection with the Repeal of Section 682 (Notice 2018-37)

ACTEC is pleased to submit Comments on guidance in connection with the Repeal of Section 682

State Law Pitfalls: Don't Step in It When Your Client Steps Across State Lines

There are many pitfalls when an estate plan or trust cross state lines. ACTEC Fellows offer things to consider when drafting a will.

Powers of Appointment: From Snoozy to Sexy

Powers of appointment keep long-term trusts evergreen, to be responsive to changing family, tax, and economic landscapes and to transform old assets.

ACTEC Offers Opinion in Sveen v. Melin

ACTEC and its Fellows researched and offered opinion to Supreme Court in Sveen v. Melin. The decision was 8-1 in favor of the position taken by ACTEC as amicus curiae with only Justice Gorsuch dissenting. ACTEC supported the position that revocation upon divorce statutes, applied retroactively to life insurance beneficiary designations, do not violate the Contracts Clause of the U.S. Constitution.

The New Partnership Audit Rules and Why They Are So Important for Estate Planners

New partnership audit rules began in 2018 that have procedural and substantive effects. Learn more from ACTEC Fellows Steve Gorin and James Lee.

President's Letter (June 2018)

Jun 11, 2018 11:00 AM

Message from ACTEC President Skip Fox

Do You Have All the Tools to Deal with Your Client's IRA Custodian?

Hear the ins and outs of issues that may arise with client’s IRA custodian from ACTEC Fellow Svetlana Beckman.

ACTEC recommendations for 2018-2019 Priority Guidance Plan (Notice 2018-43)

ACTEC is pleased to submit recommendations pursuant to Notice 2018-43, 2018-29 I.R.B. 590, published May 4, 2018, which invites recommendations for items that should be included on the 2018-2019 Priority Guidance Plan.

The GoFundMe Revolution

The GoFundMe Revolution: What Happens Once the Money Has Been Raised? Individual fundraising has gone digital and the funds raised are exponentially greater than in the past, however, the legal tax and fiduciary issues facing the money raised remain murky and largely unregulated.

We Value Your Data Privacy and Security

In line with the upcoming changes to European Union data protection law, we have updated our Privacy Policy effective May 25, 2018, for the College and the Foundation.

What's in Your Creditor Protection Toolbox for Clients?

There are many tools available to planners to help them achieve client creditors’ protection objectives without the need for a self-settled asset protection trust. Hear ACTEC Fellows discuss asset-protection strategies such as Tenancy by the Entirety, asset protection trusts, discretionary trusts, and more.

Hot Topics in Estate Planning

Hear about the Hot Topics in estate planning regarding the new tax act relating to increased exemption and marital planning in the estate.

Confronting the Challenges of Tax Reform

Highlights of the 2017 tax reform and its challenges in the trust and estate field. Several laws remain untouched from the reform but many others have drastically changed provisions in the estate and gift area until 2026.

Privileged Communication in Estate Planning and Advising

How can estate planners keep privileged communication safe when working with other advisors and professionals? ACTEC Fellows tackle attorney-client privilege and privileged communication issues.

President's Message (April 2018)

Message from ACTEC President Skip Fox

The Security of Clients' Information and What Attorneys Need to Know

Do practicing lawyers have ethical and legal duties with the use of technology in the practice of law? ACTEC Fellows discuss protecting client information and ethical responsibility.

The American College of Trust and Estate Counsel Elects 32 New Fellows to the College

Apr 09, 2018 06:30 AM

The Board of Regents of The American College of Trust and Estate Counsel (ACTEC) met in March at the 2018 Annual Meeting in San Antonio to review nominations for a new class of Fellows. We are proud to announce that 32 individuals have been peer-elected. This group of new Fellows spans the US and also includes four International lawyers representing Canada, Austria, and Spain.

Gorin's Business Succession News (First Quarter 2018)

IN THIS ISSUE: Partnership Audit Rules, Effects of Tax Reform, Using a Business Entity to Help Defray Fees, Current Materials & Comparison, and Blog Posts & Upcoming Events

What Estate Planners Need to Know About the Uniform Voidable Transactions Act

ACTEC Fellows discuss what problems trust and estate counselors need to be aware of with the Uniform Voidable Transactions Act when advising clients.

Twenty Years of Domestic Asset Protection Trusts in the United States

ACTEC Fellows Don Sparks and Amy Kanyuk discuss 20 years of Asset Protection Trust Legislation in the United States. What do practitioners need to be aware of when moving assets between states?

Charles D. "Skip" Fox, IV is new president of The American College of Trust and Estate Counsel (ACTEC)

The American College of Trust and Estate Counsel (ACTEC) is proud to announce Charles D. “Skip” Fox, IV as President. The official “Passing of the Gavel” ceremony took place Saturday, March 10th at The American College of Trust and Estate Counsel’s Annual Meeting in San Antonio, Texas. Fox, a partner at McGuireWoods from Charlottesville, Virginia, succeeded ACTEC Fellow Susan T. House from Pasadena, California.

Reflections on ACTEC National Meetings

by Sandra Perkins an ACTEC Fellow

Thoughts Regarding the Withdrawal in 2017 of the Proposed Section 2704 Estate Tax Regulations

Ron Aucutt, ACTEC Fellow from Tysons Corner, Virginia shared his perspective in October 2017 of Treasury’s withdrawal of Section 2704 proposed regulations on valuation for transfer tax purposes. There are many valuable insights in this podcast as a revised set of regulations may yet be reproposed at some point by Treasury.

New Student Editor-in-Chief for ACTEC Law Journal

The Student Editorial Board at the Maurice A. Deane School of Law at Hofstra University is proud to announce the election of Conor Wiggins as the student Editor-in-Chief of Volume 44 of the ACTEC Law Journal.

What Should Attorneys Have in Their Engagement Letters?

Engagement Letters or Engagement Agreements are an invaluable tool for attorney’s setting the stage for the representation and managing a client’s expectations. ACTEC Fellows discuss the ins and outs of effective agreements.

Gorin's Business Succession News (Fourth Quarter 2017)

IN THIS ISSUE: Tax Reform Lowers Tax Rates for Most Businesses, How Tax Reform Informs Strategies for Transferring a Business, Issues Informing Business Conversions, Current Materials & Comparison, and Blog Posts & Upcoming Events

ACTEC Comments on IRS Form 8971

Treasury Notice 82 Fed. Reg. 50733 (11/1/17), requested comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden regarding IRS Form 8971.

ACTEC Comments on How Legislation Similar to the RES Act of 2016 Would Implement a Five-Year Limit on Post-Death Retirement Distributions

Nov 27, 2017 12:00 PM

ACTEC is pleased to submit the enclosed comments on what was proposed to be Section 501 of the Retirement Enhancement and Savings Act of 2016 (the proposed legislation, “RESA”).

36 New Fellows have been elected to The American College of Trust and Estate Counsel

The American College of Trust and Estate Counsel (ACTEC) is proud to announce this year’s second class of New Fellows. ACTEC is an organization of peer-elected lawyers and law professors who are skilled and experienced in the preparation of wills and trusts, estate planning, and probate procedure; and administration of trusts and estates of decedents, minors, and incompetents.

Capital Letters No. 43

Want to know where estate & gift tax legislation/regulations stand now? Read Ronald Aucutt’s expert commentary.

capitol-letters-PROPOSED-SECTION-2704-REGULATIONS-TO-BE-WITHDRAWN

Capital Letters No. 42

Ronald Aucutt offers expert commentary on Treasury’s second response to White House directives announces the pending withdrawal of the controversial proposed regulations under section 2704.

Gorin's Business Succession News (Third Quarter 2017)

IN THIS ISSUE: Defined Value Clauses, S Corp. Distribution of Property, Traps Donating a Business to Charity, Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications, and Blog Posts & Upcoming Events

ACTEC Foundation Announces 2017 Class of Young Leader Scholarships

ACTEC Young Leaders Class of 2017 – 2019 Announcement: The ACTEC Young Leaders Program was designed to foster scholarship and education in trust and estate matters, promote diversity and inclusivity, and encourage the development of potential ACTEC Fellows. The current class includes: Nathan Brown, Audrey Kucia, Carly McKeeman, Arnette Steele, and John Strohmeyer.

Oregon Law Student Wins Writing Competition for "Over My Dead Body: Preventing and Resolving Disputes Regarding the Disposition of the Dead"

Oregon School of Law student Shawn Walker wins ACTEC's Mary Moers Wenig Writing Competition for is paper in the area of trust and estates.

Capital Letters No. 41

A deep look at Section 2704 by Ronald Aucutt an ACTEC Fellow in Virginia and the District of Columbia, and a partner in McGuireWoods LLP.

Capital Letters No. 40

Expert commentary by Ronald Aucutt, an ACTEC Fellow and a partner in McGuireWoods LLP, regarding US Tax Code Section 2704. The White House has ordered an unprecedented review of burdensome tax regulations, and Treasury puts section 2704 proposed regulations on the menu. Capital Letters offers unique insights into the legislative process behind estate tax reform deliberations of Congress, the Treasury and IRS.

CPAs Urge Treasury to Pull Half of Tax Regulations Under Review

Snapshot: Want estate tax valuation, debt-equity, foreign currency, foreign transfer rules axed Silence on four projects is neither support nor opposition, AICPA says

ACTEC Proposal Concerning Federal Estate Tax Recovery Provisions (August 7, 2017)

On behalf of ACTEC, please find attached a report that recommends that the federal estate tax recovery provisions in the Internal Revenue Code be amended in order to eliminate inconsistencies and to expand the right of tax recovery to all estate tax inclusionary code sections.

ACTEC Comments re: Notice 2017-38 (August 1, 2017)

ACTEC is pleased to comment, in response to Notice 2017-38, 2017-30 I.R.B. 147, on the regulatory burdens and complexity that are, and would be, imposed by Proposed Regulations under section 2704.

Updated Musings on Current Events

Now Including Musings from the ACTEC Summer Meeting

Gorin's Business Succession News (Second Quarter 2017)

IN THIS ISSUE: Self-Employment and FICA Tax, Leveraging to Attain Basis Step-Up, Income Tax Benefits of Losing an FLP Case, Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications, and Blog Posts & Upcoming Events

Congratulations to the Florida Fellows Institute Class of 2017!

The Institute graduated its second class on May 11, 2017. ACTEC President Susan House provided remarks during the event, recognizing the commitment of class members to achieving excellence in the profession. The Florida Fellows Institute has 66 graduates after the first two years of the program.

Engagement Letters: A Guide for Practitioners Third Edition (2017)

With the publication of the Fifth Edition of the ACTEC Commentaries, ACTEC – through the work of its Professional Responsibility Committee and with the financial support of the ACTEC Foundation – is now publishing the Third Edition of Engagement Letters.

Dennis I. Belcher (1951 - 2017)

Dennis I. Belcher past president of ACTEC from 2009 to 2010 passed away suddenly yesterday April 27, 2017.

Gorin's Business Succession News (First Quarter 2017)

IN THIS ISSUE: Self-Employment Tax, Post-Mortem Planning, Reimbursing Deemed Owner of Grantor Trust, Current Materials & Comparison, and Blog Posts & Upcoming Events

Susan T. House Elected 2017-2018 President of ACTEC (The American College of Trust and Estate Counsel)

Susan T. House Elected 2017-2018 President of ACTEC (The American College of Trust and Estate Counsel) 82 Nominees Elected as Fellows of Leading Estate Planning Organization

ACTEC Comments on Discretionary Trusts (February 22, 2017)

ACTEC is pleased to submit comments in response to the following questions posed by OGE in a Notice published in the Federal Register on January 3, 2017, 82 Fed. Reg. 122: Are there any circumstances under which an eligible income beneficiary of a discretionary trust might, in the absence of a vested remainder interest, be able to compel the trust to make a distribution or payment?

ACTEC Proposal to Extend IRS Authority to Grant Relief (February 2, 2017)

ACTEC submitted a report that recommends the IRS be granted the authority to extend the period in which to make all tax elections under the Federal transfer taxes, the Gift, Estate, and Generation-Skipping Transfer (“GST”) taxes (Chapters 11, 12, and 13 of the “IRC”) regardless of whether the due date for the election is set by statute, regulation, or other published guidance.

Gorin's Business Succession News (Forth Quarter 2016)

IN THIS ISSUE: Most Recent Version of Materials, Self-Employment Tax and LLCs, New Partnership Audit Rules, Fiduciary Income Taxation Update, and Upcoming Events

ACTEC Comments Partnership Audit Rules re: Trusts

ACTEC recently submitted comments on Proposed Regulations to section 6221 of the Internal Revenue Code of 1986, as amended, which was added by Section 1101 of the Bipartisan Budget Act of 2015. This new consolidated or centralized system for audit, adjustment and collection of income tax will apply to partnerships for partnership taxable years beginning after 2017.

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ACTEC Submits Comments on Proposed Regulations Under Section 2704

On October 27, 2016, ACTEC submitted Comments on the Proposed Regulations under section 2704 of the Internal Revenue Code relating to the treatment of the lapse of voting or liquidation rights and the effect of restrictions on the liquidation of a family controlled entity or of an interest in a family-controlled entity.

Gorin's Business Succession News (Third Quarter 2016)

IN THIS ISSUE: Most Recent Version of Materials, Proposed Regulations under Code § 2704, Tenants in Common in Light of Attack on Certain Partnerships, Avoiding Income Taxation of Life Insurance in Buy-Sell Agreements, Upcoming Events

ACTEC LAUNCHES VIDEO SERIES "ACTEC FAMILY ESTATE PLANNING GUIDE"

Estate Planning Fundamentals to Help Protect Your Family’s Future

Gorin's Business Succession News (Second Quarter 2016)

IN THIS ISSUE: Most Recent Version of Materials, Winning Reasonable Compensation Strategy, Tax Court Confirms Business Life Insurance Tool, Passive Can Be Good, and Upcoming Events.

ACTEC Speakers Present Oral Testimony to IRS

(June 27, 2016) ACTEC Fellows Ronald D. Aucutt, Lora G. Davis (on behalf of the State Bar of Texas Section), and Gregg M. Simon presented oral testimony to the IRS on proposed regulations regarding “Consistent Basis Reporting Between Estate and Person Acquiring Property from Decedent (REG-127923-15)".

ACTEC Comments on Proposed Regulations Under Sections 1014(f) and 6035

The American College of Trust and Estate Counsel (“ACTEC”) is pleased to submit the enclosed comments on Proposed Regulations to new sections 6035 and 1014(f) of the Internal Revenue Code of 1986, as amended (the “Code”). Sections 6035 and 1014(f) were enacted as part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (P.L. 114-41), signed into law on July 31, 2015.

ACTEC Recommendations for 2016-2017 Guidance Priority Plan

The American College of Trust and Estate Counsel (“ACTEC”) submitted recommendations pursuant to Notice 2016-26, I.R.B. 2016-14, published April 4, 2016, which invited recommendations for items that should be included on the 2016-2017 Guidance Priority Plan.

ACTEC Comments under Section 2801

ACTEC submitted comments on proposed regulations to implement Section 2801.

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Gorin's Business Succession News (First Quarter 2016)

IN THIS ISSUE: Most Recent Version of Materials, Installment Sale of Partnership Interest Compared to Redemption, Possible Effect of Buy-Sell Agreement on Marital Deduction, QSubs – Handy for Code § 6166 Estate Tax Deferral or for Reorganizations, Upcoming Events.

Cynda C. Ottaway of Oklahoma becomes 2016-2017 President of The American College of Trust and Estate Counsel (ACTEC)

ACTEC, the leading trust and estate organization of peer-elected trust and estate lawyers, has elected Cynda C. Ottaway, of Oklahoma City, Oklahoma, as 2016-2017 President. The organization inaugurated new officers and new members or Fellows during its annual meeting last month in Las Vegas, Nevada.

President's Message No. 5 (February 2016)

Why are our national meetings so expensive? Why can’t leadership of the College make it less expensive for us to attend our three national meetings each year? How are our meeting costs determined? Those are good questions that I know many of you have, and you deserve a straightforward answer.

Gorin's Business Succession News (Fourth Quarter 2015)

IN THIS ISSUE: Most Recent Version of Materials, Business Structuring Aspects of December 2015 Legislation, Top Ten Tactical & Strategic Issues for Fiduciary Income Tax Return Preparers, F Reorganizations - Facilitate Conversions to Partnerships or Asset Protection; Final Regulations Issued, Upcoming Events

Capital Letters No. 39

“TOP TEN” ESTATE PLANNING AND ESTATE TAX DEVELOPMENTS OF 2015

Gorin's Business Succession News (Third Quarter 2015)

IN THIS ISSUE: Most Recent Version of Materials, Trust Sales of Pass-Through Entities, Redemptions – Corporations Compared with Partnerships, Trust Material Participation Comments Completed, and Upcoming Events

President's Message No. 4 (October 2015)

By a unanimous vote the Board of Regents approved revisions to the College’s Bylaws and the Requirements and Procedures for the Election of Fellows at its meeting in Monterey on October 18, 2015.

President's Message No. 3 (October 2015)

A proposal to change the criteria for election of Fellows to the College will be presented to the Board of Regents for a vote at its meeting in Monterey on October 18, 2015.

Capital Letters No. 38

Anticipated Valuation Discount Regulations

President's Message (June 2015)

Anita and I thank those of you who attended the summer meeting in Quebec. We had a record attendance for a summer meeting of the College...

President's Message (March 2015)

I am deeply honored and humbled to serve as your president for the next year. Through these newsletters I want to inform you about various things concerning the operations and workings of the College that you might not know...

Bruce Stone of Florida becomes 2015-2016 President of The American College of Trust and Estate Counsel (ACTEC)

Mar 20, 2015 01:00 PM

ACTEC, the leading trust and estate organization of peer-elected trust and estate lawyers, has elected Bruce Stone, of Coral Gables, Florida, as 2015-2016 President. The organization inaugurated the 2015-2016 officers and inducted 35 new Fellows during its recent annual meeting in Marco Island, Florida.

President's Message (February 2011)

Feb 02, 2011 01:00 PM

I am pleased to share with you a remarkable letter sent by Tom Barthold, Chief of Staff of the Joint Committee on Taxation, to Ron Aucutt, Chair of ACTEC’s Washington Affairs Committee. Mr. Barthold expresses his appreciation to ACTEC Fellows for assisting the Joint Committee on Taxation and other Congressional staffs in developing and drafting modifications to the estate and gift tax laws over the past year. As noted in my December 2010 letter to you, the final legislation enacted...

President's Message (December 2010)

Dec 18, 2010 01:00 PM

The 2010 Fall Meeting held in Baltimore, Maryland was the first meeting planned and executed by the ACTEC staff working from the office in Washington, D.C. The meeting was an unqualified success thanks to the hard work and dedication of the staff. The College now has vacated its office space in Los Angeles and is carrying out almost all of its functions from Washington D.C. Bill Crawford continues to provide valuable technology support from California.

President's Message (July 2010)

Jul 29, 2010 01:00 PM

This is an exciting time for ACTEC. The relocation of the office from Los Angeles to Washington, D.C. is proceeding apace. It is akin to closing down one operating business and beginning another. Banking, accounting, technology, insurance, mail, telephone, and personnel functions are being discontinued in L.A. and initiated in Washington, D.C. – all while the normal work of the College continues and even increases.

President's Message (March 2010)

Mar 31, 2010 01:00 PM

I am pleased to bring you something new from ACTEC, the first President’s Message in electronic format. With this format, there will be no delay for printing, addressing, and mailing in getting important ACTEC news and commentary to all Fellows. In addition, the President’s communications to the ACTEC family will not be limited to particular times of the year or to a particular number of times per year.

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