(Photo: Shutterstock.com)

In The Legal's Wealth Management, Trusts and Estates supplement, read about estate planning challenges for business owners, when to use a revocable living trust and how to transfer assets to a disabled beneficiary.

Download the digital edition here.

IRS Clarifies the Use of New Estate and Gift Tax Exclusions Of particular concern to tax practitioners has been the question: will gifts that a taxpayer makes after 2017 and before 2026 to take advantage of the extra exclusion amount effectively be subject to transfer tax a second time if the taxpayer dies after the exclusion amount reverts back?

2018 Transfer Tax Developments: Three Cases Worth a Second Look Recent developments in transfer taxes should be on every estate planner's radar. In 2018, the following three cases made waves.

Estate Planning Challenges for Business Owners in 2019 As we move into 2019, business owners face many challenges and uncertainty with respect to the tax and legal landscape involved in estate planning and succession planning due in large part to the continuing impact of the Tax Cuts and Jobs Act of 2017 and the impact of rising interest rates on planning techniques commonly utilized by business owners to successfully transition ownership of a business in a tax efficient manner.

When to Use a Revocable Living Trust—Clearing Up Misconceptions Revocable living trusts have earned a mixed reputation. Many believe they are an essential part of any estate plan, while others view them as unnecessary and burdensome.

Transferring Assets to a Beneficiary With a Disability: What Are the Options? With approximately one in six children in the United States between the ages of 3 and 17 diagnosed with a disability, practitioners will increasingly serve clients who wish to leave assets to a family member with special needs.

Estate Planning Tools to Put to Work in a Higher-Interest Rate Environment The federal funds rate was raised to 2.5 percent at the end of 2018, and it is expected to continue to rise in the coming months and years. The federal funds rate has a direct affect on many other interest rates which can ultimately impact one's estate planning goals.

Estate Planning v. Estate Litigation: How to Avoid Being 'Cashed Out' Themes of last minute changes to a will or deathbed gifts make for a fascinating read, or may play well in theaters near you, but such actions cause families to litigate as scores are arguably settled.