The May and July 2007 issues of the Wealth Strategies Journal are now available online, with the following tax-related articles:
Choices: Why Do I Need A Trust? Setting the Stage for Decision-Making by Donald Kozusko (Kozusko Harris Vetter Wareh, Washington, D.C.) Abstract: Trusts are most often valued as vehicles for tax planning, protecting against creditors, and managing assets for beneficiaries who are minors or incapacitated adults. While valid, these reasons tend to characterize trusts by the restrictions imposed and harm prevented. This oversimplified and narrow focus overlooks the opportunity to use trusts to improve positive decision-making by responsible adults.
Community Property Planning Techniques for Professionals in Non-Community Property States, by David W. Reinecke (Foley & Lardner, Madison, WI): Abstract: Retaining and planning for community property interests of clients who migrate to common law states will normally result in considerable advantages for the estate. Recognizing the community property issue is the critical first step to effective planning in this regard. Employing sophisticated estate planning techniques for community property interests requires detailed knowledge of the particular state’s regime and experience in planning within it. This article provides some basic information.
Family Incentive Trusts: Dynamic New Approach Employing Trust Distributions to Communicate Family Values and to Promote Productivity and Performance in Beneficiaries, by James E. McNair, Gregory J. Rupert & Cynthia L. Gausvik (all of Patton Boggs, McLean, VA) Abstract: Many parents and grandparents, particularly those with significant wealth, dread the possibility that their children and grandchildren might become trust fund babies. Ironically, one solution many such parents and grandparents have turned to are incentive trusts, which are specifically tailored to promote the grantorÕs values and goals, and require that the beneficiaries adhere to the performance standards the grantor establishes to be entitled to distributions from the trust.
