The presence of a spendthrift clause in a Trust instrument may prevent the future modification or termination of that Trust.

An IRA cannot invest in collectibles. The IRS has recently expanded the concept of what constitutes a collectible as a prohibited IRA investment.

Let’s be honest. There is no way to separate sports from money… or taxes.

High net worth individuals with whom we work are often the targets of tax scams.

In IRS Notice 2024-19 the Service once again has waived the penalty for the failure to take a required minimum distribution (RMD) from an inherited IRA when the IRA owner was over his/her required beginning date (RBD) at the time of death.

Reviewing a life insurance policy held in an irrevocable life insurance trust (ILIT) is a complex, and often thankless, task for the trustee of that Trust.

Communicating with the IRS is never fun. Relying on the mail to effect those communications comes with other risks, including the IRS’s position that it never received the communication.

Attorneys and trust officers are now becoming more familiar with the possible use of a nonjudicial settlement agreement to expedite the administration of a Trust or to resolve minor disputes.

To sound like a ‘broken record,’ now is a good time to start to talk to individuals about using their bonus applicable exemption amount before it disappears in 2026.

Due to the high capital gains taxes faced by art collectors when they sell artwork, deferring capital gains taxes should be seriously considered using a charitable trust.