by Joel Roettger | May 25, 2017 | Estate Planning, Probate, Trusts
A good Last Will and Testament will address the issue of children born after the document is executed. Nonetheless, the Tennessee Code has the situation covered: A child born after the making of a will, either before or after the death of the testator, inclusive of a...
by Joel Roettger | May 24, 2017 | Asset Protection, Estate Planning, Trusts
Can a revocable trust created by one spouse after marriage constitute an enforceable postnuptial agreement for divorce purposes? This question arose in a recent case decided by the Tennessee Court of Appeals. The facts are as follows: Husband and Wife were married in...
by Joel Roettger | May 23, 2017 | Asset Protection, Estate Planning, Trusts
A previous post discusses who can legally be the trustee of Tennessee Investment Services Trust (TIST). A better question might be: who should be the trustee of a TIST? Choosing the wrong trustee could expose a TIST to creditors. One argument in favor of piercing a...
by Joel Roettger | May 22, 2017 | Estate Planning, Tax
The 7520 rate for June 2017 will remain at 2.4%. A table showing historical 7520 rates since 2008 is here. The effectiveness of various estate planning and charitable planning techniques is measured in terms of the 7520 rate. These techniques include Grantor Retained...
by Joel Roettger | May 18, 2017 | Probate, Tax
For estates that are required to file a Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return*, it is advisable not to close the estate until you know that the IRS has completed its examination of the return and has accepted it (either with or...