Missives

As the American workforce continues to age and live longer, and employees continue to save for their retirement with 401(k) account contributions, there is a growing urgency to find funds needed to pay for long-term care insurance.

On July 1, 2026, the Department of Treasury identified the initial default investments for a Trump Account. Initial contributions to a Trump Account (TA) will be invested in State Street SPDR Portfolio S&P 500 ETF.

Charitable giving through a qualified charitable distribution (QCD) is almost always the most tax efficient way for the donor to carry out his/her philanthropy.

There are some last-minute rules to keep in mind as we actually enter the era of Trump Accounts (TA’s.) I wish I could say that this is the ‘final word’ on TAs, but we all know that is not going to be the case.

Death bed estate planning like the transfer of assets to an LLC to manufacture valuation discounts often do not work when there is no non-tax purpose for the transfer. If the initial reaction to a proposed asset transfer is that ‘it’s too good to be true,’ then it is too good to be true, and the IRS and the courts will let you know it.

Florida recently changed its laws to permit a summary procedure to settle the trustee’s accounts and enable the discharge of the trustee from liability without any court proceedings.

After 3+ years of the SECURE 2.0 Act, we are still waiting for guidance from the IRS on when the 15-year 529 ‘existence’ requirement applies to a new 529 beneficiary.

Because of the restrictive rules associated with a QTIP trust, it is difficult for the surviving spouse-beneficiary to plan for his/her own estate, considering the value of the trust assets will be included in his/her gross estate.

With the disappearance of defined benefit pensions, many individuals are turning to nonqualified deferred annuities a ‘private’ replacement for those lost pensions. The rules associated with NQDA’s and for those who may inherit them are highly complex and, at times, not all that intuitive.

There are several details, however, on how existing trusts would be valued or the valuation methodologies used to avoid having to appraise trust assets each year.