Philip J Michaels

September 07, 2018 | New York Law Journal

The Tax Cuts and Jobs Act of 2018 made many considerable changes, especially in the context of arranging the lifetime structural aspects, as well as planning the estates, of real estate investors and developers. In terms of allocating wealth between assets, these changes have, arguably, tipped the scales in favor of real estate over other classes of assets. This article covers factor to be considered in estate planning with real estate interests.

By Philip J. Michaels and Jason A. Lederman

15 minute read

September 16, 2013 | New York Law Journal

Philip J. Michaels and Brian G. Smith of Fulbright & Jaworski write: Properly sheltering life insurance proceeds from estate tax as well requires more complex planning. With proper estate planning, one can shelter life insurance proceeds from all federal and state tax, but the Transfer For Value Rule is a landmine that must be carefully avoided, or else one could potentially lose all of the valuable benefits afforded life insurance policies and proceeds.

By Philip J. Michaels and Brian G. Smith

13 minute read

July 22, 2009 | New York Law Journal

Philip J. Michaels, a partner at Fulbright & Jaworski, and Michelle Schwartz, an associate with the firm, discuss "decanting" - a powerful tool that may be available to modify the terms of an irrevocable trust. A decanting statute, they explain, allows the trustee of a trust to transfer all or part of the original trust's assets into a new trust instrument with different terms, thereby altering or amending the irrevocable original trust.

By Philip J. Michaels and Michelle Schwartz

16 minute read