The capacity to execute a non-probate instrument is different than the capacity to execute a Will, which can lead to inconsistent standards that are applied.

Some IRC 529 higher education account balances can now be rolled into a Roth IRA, starting this year. However, there are still some important questions that need to be answered, which means we must await guidance in yet-to-be-published IRS Regulations.

The recent Chief Counsel Advice 202352018 casts a cloud over the favorable tax treatment of grantor trusts, which leads to some concerns that the IRS may take future steps to erode the income and estate tax benefits of a grantor trust, or the gift tax implications when a beneficiary of a decanted trust does not object to the trustee’s decanting decision.

As an individual’s income continues to rise, the ability to make a Roth IRA contribution diminishes. Thus enters the ‘backdoor’ traditional IRA conversion to a Roth IRA strategy to enable high-earners the ability to contribute to a Roth IRA.

As an individual’s income continues to rise, the ability to make a Roth IRA contribution diminishes. Thus enters the ‘backdoor’ traditional IRA conversion to a Roth IRA strategy to enable high-earners the ability to contribute to a Roth IRA.

The Corporate Transparency Act as applied to a conventional estate planning trust that holds a reporting entity leads to a lot of unanswered questions on who exactly a beneficial owner is who must be disclosed to FinCEN.

Using a general assignment to fund a Trust, sometimes executed by an attorney-in-fact is often legally effective to fund the principal/settlor’s Trust, but questions can often arise using a general assignment.

A traditional IRA can be used to help pay for post-high school education expenses without incurring a penalty. But that is not the best use of those retirement funds.

There is no rush to open a solo 401(k) account by the end of 2023. But there may still be a deadline.