Creating a trust for spouse may continue to be a sound estate planning strategy after the One Big Beautiful Bill Act.  However, rather than create a SLAT, which is a grantor trust for income tax purposes, an alternate strategy might be to intentionally create a non-grantor trust for the donor’s spouse- a SLANT.

These uniform laws, and many that were not mentioned, reflect a strong desire to bring consistency and predictability to the law, especially regarding the rules that apply to estate planning

During its growth period the funds held in a Trump Account are not supposed to be accessible, with only a couple of exceptions to this general rule.

With income tax basis planning taking center stage now that the Big Beautiful Bill Act is the law with its $15 million applicable exemption amount per person, there could be a renewed interest in intentionally springing the ‘Delaware Tax Trap’ to gain a new, higher, income tax basis in trust assets on a beneficiary’s death.

The estate planning world needs skilled trustees to handle the Baby Boomer’s generational wealth transfer. Barriers that could deter an experienced trustee from agreeing to serve in that fiduciary capacity need to be reexamined.

While Trump Accounts are  ‘like’ IRAs once the beneficiary attains age 18, they are different, and there are five different ways contributions can be made to a Trump Account.

A successor beneficiary always steps-into-the-shoes‘ of the designated beneficiary of an inherited IRA, but with one narrow exception.

Even before this new FinCEN rule there were plenty of forms to be completed and disclosure statements associated with a ‘simple’ home purchase. We now have at least one additional form that will have to be completed, and filed, as part of what is supposed to be a ‘simple’ transaction.

Social Security benefits are facing a reduction of 23% in 2032 if changes are not made to its existing funding sources.

The IRS just changed, for the better, the user fee that it charges for individuals who missed a 60-day rollover of their IRA, or who need to recharacterize contributions that they made to a Roth IRA.