Future Wealth Navigator

Welcome to Future Wealth Navigator

Sean R. Weissbart, Andrew J. Haas, and Kyle G. Durante — Welcome to Future Wealth Navigator! Authored by Blank Rome LLP’s dedicated Trusts & Estates team of seasoned estate and tax planning and administration attorneys from across the country, Future Wealth Navigator is a one-stop shop for all matters trusts and estates. Readers can expect in-depth…

April 19, 2023April 20, 2023

Increasing the Available Gift and Estate Tax Exemption for a Surviving Spouse

James R. O’Neill — In planning for the estate of a surviving spouse, the availability of the unused gift and estate tax exemption of his or her deceased spouse can be important, and particularly so with the impending reduction of the exemption. The federal gift and estate tax exemption, which was doubled pursuant to the 2017…

October 10, 2023October 10, 2023

To Trust, or Not to Trust: That Is the Question

Sean R. Weissbart — Mom and Dad, a lovely couple in their early 50s, meet with me to discuss their estate planning. Mom shares, “our two children—ages 23 and 25—are special and productive. One just graduated law school and the other finishes medical school next spring.” Dad jumps in, “when we die, split all of our…

October 4, 2023October 4, 2023

IRS Disallows Step-Up in Tax Cost Basis for Assets Held by an Irrevocable Grantor Trust

Kyle G. Durante — Under current law, assets acquired from a decedent receive an adjustment in cost basis to fair market value, thereby potentially eliminating significant unrealized gain. Although Congress has and likely will use this tax benefit as a pawn in future tax legislation, under current law, this benefit remains available to taxpayers. With respect…

September 28, 2023September 28, 2023

Don’t Wait until Time Is Up

Sara K. Osinski — Lately, friends, family, and clients seem to be asking the same questions: “When should I think about estate planning? Is it actually necessary for me to have an estate plan?” As life is unpredictable, it is better to start planning sooner rather than later. In fact, upon attaining the legal age of…

September 12, 2023September 12, 2023

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Future Wealth Navigator analyzes and explores emerging issues in the area of trusts and estates and transfer taxation, including issues related to estate and trust planning, administration, and litigation; recent and proposed changes in the wealth transfer tax regime; family and spousal rights; and trending estate planning tools and vehicles.

Trusts & Estates Practice

Blank Rome’s trusts and estates attorneys advise clients on all aspects of estate planning, including business planning, estate and trust administration, and tax litigation. We provide personal, discreet counsel as you decide who will receive your assets and property after your death.

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Blank Rome is an Am Law 100 firm with 15 offices and 700 attorneys and principals who provide comprehensive legal and advocacy services to clients operating in the United States and around the world. Our professionals have built a reputation for their leading knowledge and experience across a spectrum of industries, and are recognized for their commitment to pro bono work in their communities. Since our inception in 1946, Blank Rome’s culture has been dedicated to providing top-level service to all of our clients, and has been rooted in the strength of our diversity and inclusion initiatives. For more information, please visit blankrome.com.

Please contact Blank Rome for permission to reprint. Notice: The purpose of this update is to identify select developments that may be of interest to readers. The information contained herein is abridged and summarized from various sources, the accuracy and completeness of which cannot be assured. This update should not be construed as legal advice or opinion, and is not substitute for the advice of counsel.

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