Accelerated charitable trusts provide new gift giving opportunities

Article Abstract:

The author explains how accelerated charitable remainder trusts operate. Both the advantages and possible drawbacks of accelerated trusts are covered. Topics include funding and liquidity, drafting considerations, and the need to consider the effects of federal and state income taxes when considering an ACT.

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Planned basis freezes and ESOPs after the 2001 Tax Act

Article Abstract:

The author explains how some business owners can use employee stock ownership plans to reduce the estate taxes of their successors in line with the requirements of the Economic Growth and Tax Relief Reconciliation Act of 2001. Benefits for both C corporations and S corporations are discussed.

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Issues to consider in drafting generation-skipping insurance trusts

Article Abstract:

The author discusses the use of a generation-skipping life insurance trust in estate planning. Topics include GST tax concepts, drafting considerations, avoiding Crummey powers, the GST exemption, and filing a gift tax return.

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