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The Tools & Techniques of Trust Planning, 3rd Edition

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2580003B

The Tools & Techniques of Trust Planning, 3d Edition provides advisers with the most up-to-date information about the creation, administration, and modification of trusts for legal and estate planning professionals. Not only does this title deliver an expert overview of general trust information, but it explains how to use specific types of trusts to solve unique planning problems.

This title covers the types of trusts that are most commonly used and the possible tax consequences for grantors and beneficiaries of using a particular type of trust. It details requirements for each type of trust and provides practical advice on how they should be drafted. In addition, this title addresses how planning professionals such as attorneys, accountants, investment advisers, and trust officers should administer the trust to achieve the client's stated planning goals over the life of the trust

New in the 3rd Edition:

  • A new Chapter 24 on the Spousal Lifetime Access Trust (SLAT), including the advantages, disadvantages and potential uses and important planning pointers in the design, funding and administration of a SLAT, particularly as they relate to possibly being able to direct SLAT funds to the donor spouse?
  • Updates on Special Needs Trusts, including how the Special Needs Trust Fairness Act allowed an individual with a disability or their agent under a power of attorney to establish a d(4)(A) trust for that individual's benefit
  • Updates to Community Property law, including a discussion of "full" basis step adjustment and an update to the states that permit a couple to create a community property trust
  • The latest on domestic asset protection trust legislation, with an introductory focus on Alaska and Delaware, followed by a brief overview of each of the other DAPT states, including the new legislation in Connecticut, Indiana and Alabama.
  • Updated information on trusts and divorce, including how, since passage of the Tax Cuts and Jobs Act of 2017, some states have decoupled from the federal income tax rule regarding alimony.
  • A new chapter on Spousal Lifetime Access Trust (SLATS), including the advantages and disadvantages of these trusts, the assets best suited for these trusts and issues around the donor spouse
  • Updated state, federal, and international law updates for asset protection trusts

Topics Covered:

  • Explorations of different types of trusts include detailed knowledge about:
  • Spousal lifetime access trusts (SLATs)
  • Marital and By-Pass Trusts
  • Community Property Trusts
  • Irrevocable Life Insurance Trusts
  • Trusts and Divorce
  • Revocable Living Trusts
  • Inter Vivos QTIP Trusts
  • Supplemental Needs Planning
  • Grantor Retained Interest Trusts
  • Charitable Trusts
  • Qualified Personal Residence Trusts
  • Domestic Asset Protection Trusts
  • Offshore Asset Protection Trusts
  • Trusts for Unique Assets and Difficult Situations and Blended Families
  • And more! See the "Table of Contents" section for a full list of topics

As with all the resources in the highly acclaimed Leimberg Library, every area covered in this book is accompanied by the tools, techniques, practice tips, and examples you can use to help your clients successfully navigate the complex course of trust planning and confidently meet their needs.

Additional Information
SKU 2580003B
Publication Date October 13, 2022
ISBN 978-1-954096-63-9
Page Count 438
Author Stephan R. Leimberg, Jonathan E. Gopman, Michael A. Sneeringer
Edition 3rd Edition
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Jonathan E. Gopman

Jonathan E. Gopman is a partner in Akerman LLP’s Naples office and Chair of the firm’s Trusts & Estates Practice Group. He is a fellow of the American College of Tax Counsel. He currently serves as Chair of the Asset Protection Planning Committee of the Real Property, Trust and Estate Law Section of the ABA (for the 2016-2017 bar year) and is a Fellow of the American Bar Foundation. Jonathan is an adjunct professor at Ave Maria School of Law, currently serves on its Curriculum Advisory Committee, and chaired its first annual Estate Planning Day Conference held in April of 2014 and continues to serve on the advisory committee for such conference. He is a member of the legal advisory board of Commonwealth Trust Company and STEP. He is AV rated. In 2009, 2010, 2011, 2012, 2013 and 2014 he was selected for inclusion in The Best Lawyers in America® and as a Florida Super Lawyer for 2010, 2011, 2012, 2013 and 2014 and included in Florida Trend’s Legal Elite for 2010 and 2011. In the Dec. 2005 and 2007 issues of Worth Magazine he was recognized as one of the top 100 estate planning attorneys in the US.

Jonathan has authored and co-authored numerous articles on asset protection and estate planning and chapters in books on asset protection and frequently lectures on these topics throughout the world. He is a co-author of the revised BNA Tax Management Portfolio on Estate Tax Payments and Liabilities, and has been interviewed for and quoted in a number of publications such as the New York Times, Bloomberg, Forbes, Wealth Manager, and Elite Traveler. He is the originator of the idea for the statutory tenancy by the entireties trust (STET) in 12 § 3574(f) of the Delaware Statutes. His articles and presentations have served as an impetus for changes to the trust laws of several states. In 2011 he was appointed to a special committee of the Nevis government and Nevis International Service Providers Association to revise the Nevis International Exempt Trust Ordinance. He also provided advice and consultation on the proposed revised charging order statute for the Nevis Limited Liability Company Ordinance and together with his colleague, Linda Charity, provided advice and consultation on the content of the proposed banking ordinance in Nevis. He received his J.D. from Florida State University College of Law and his LL.M. in Estate Planning from the University of Miami School of Law.

Michael Sneeringer

Michael Sneeringer is an associate in Akerman LLP’s Naples office. He practices in the areas of estate planning, probate administration, asset protection planning, and tax law. He serves as a Co-Vice Chair of the Asset Protection Planning Committee of the Real Property, Trust and Estate Law Section of the ABA, and is an Executive Council Member of the Real Property, Probate and Trust Law Section of the Florida Bar. He earned his B.A. in Political Science from Washington & Jefferson College, his J.D. from St. Thomas University School of Law and his LL.M. in Estate Planning from the University of Miami School of Law.

Stephan R. Leimberg

Stephan R. Leimberg is CEO of Leimberg and LeClair, Inc., an estate and financial planning software company, CEO of LISI, Leimberg Information Services, Inc., an email newsletter service, and President of Leimberg Associates, Inc., a publishing and software company. He is an Adjunct Professor in the Masters of Taxation Program of Villanova University School of Law and former adjunct at Temple University School of Law. He holds a B.A. from Temple University, and a J.D. from Temple University School of Law. Leimberg is the Editor of the American Society of Financial Service Professionals audio publication, Keeping Current.

Leimberg is the author or co-author of numerous books on estate, financial, and employee benefit and retirement planning and a nationally known speaker. Leimberg is the creator and principal author of the entire nine book Tools & Techniques series including The Tools & Techniques of Estate Planning, The Tools & Techniques of Financial Planning, The Tools & Techniques of Employee Benefit and Retirement Planning, The Tools & Techniques of Life Insurance Planning, The Tools & Techniques of Charitable Planning, The Tools & Techniques of Investment Planning, The Tools & Techniques of Risk Management, The Tools & Techniques of Practice Management, and The Tools & Techniques of Retirement Income Planning. Leimberg is co-author of Tax Planning with Life Insurance with noted attorney Howard Zaritsky, The Book of Trusts with attorneys Charles K. Plotnick and Daniel Evans, and How to Settle an Estate with Charles K. Plotnick. He was also a contributing author of the American Bar Association’s The Lawyer’s Guide to Retirement.

Leimberg is co-creator of many software packages for the financial services professional including Estate and Financial Planning NumberCruncher (estate planning), DeCoupleCruncher (estate planning), Financial Analyzer II (financial calculations), Estate Planning Quickview (Estate Planning Flow Charts), Life Settlement NumberCruncher (life settlement buy-hold analysis), Planning Ahead for a Secure Retirement (PowerPoint Client Seminar) and Toward a Zero Estate Tax (PowerPoint Client Estate Planning Seminar).

A nationally known speaker, Professor Leimberg has addressed the Miami Tax Institute, the NYU Tax Institute, the Federal Tax Bar, the Notre Dame Law School and Duke University Law School’s Estate Planning Conference, the National Association of Estate Planners and Councils, the AICPA’s National Estate Planning Forum, the ABA Section on Taxation, and The Annual Meeting of the American Society of Financial Service Professionals. Leimberg has also spoken to the Federal Bureau of Investigation, and the National Aeronautics and Space Administration.

Leimberg was awarded the Excellence in Writing Award of the American Bar Association’s Probate and Property Section. He has been honored as Estate Planner of the Year by the Montgomery County Estate Planning Council and as Distinguished Estate Planner by the Philadelphia Estate Planning Council. He is also a recipient of the President’s Cup of the Philadelphia Life Underwriters, a two time Boris Todorovitch Lecturer, and the First Ben Feldman Lecturer.

Leimberg was named Edward N. Polisher Lecturer of the Dickinson School of Law and 2004 recipient of the National Association of Estate Planners and Councils Distinguished Accredited Estate Planner award.

Leimberg’s LISI email newsletter/data base at www.leimbergservices.com is used daily by thousands of estate, financial, employee benefit, charitable, and retirement planning practitioners.