Is this the Golden Age of CLATs?

Written by David Wheeler Newman and  Daniel Cousineau

The charitable lead trust has always been a powerful vehicle to balance philanthropic and estate planning objectives.  The recent convergence of two factors that are critically important in the planning dynamic for charitable lead annuity trusts (CLATs) create a planning environment that is so favorable for CLATs, it is no exaggeration to suggest that the current period may be the golden age of CLATs, presenting a very interesting planning opportunity for wealthy families.  But that opportunity is temporary, since the convergence of these factors is unlikely to continue for very long. Continue reading “Is this the Golden Age of CLATs?”

Estate Planning in the Time of COVID-19

Written by Rachel Ronca and Seth W. Krasilovsky

Preparing and properly executing estate planning documents requires much care and consideration under “normal” circumstances.  The COVID-19 pandemic, with its attendant shelter-at-home orders and social distancing guidelines, has made the estate planning process a logistically complicated necessity.  Under the California Probate Code, the execution of estate planning documents requires a combination of notarization and witnessing.  How can this be accomplished when non‑essential businesses are closed or working off‑site, and people are increasingly cautious of interactions outside of their homes?  The Trusts & Estates department at MSK is prepared to assist you through the preparation and execution of your estate planning documents, allowing you peace of mind in these uncertain and difficult times. Continue reading “Estate Planning in the Time of COVID-19”

Wealthy Californians (and their Children) Can Breathe a Sigh of Relief

Calculator with wooden house and coins stack and pen on wood table. Property investment and house mortgage financial concept
Photo credit: iStock.com/marchmeena29

By Joyce Feuille

Wealthy Californians, and more importantly, their children and grandchildren, can pop that champagne. The bill that would have imposed a California gift, estate, and generation skipping transfer tax appears to be dead – – at least for now. It will not get a floor vote in the California Legislature.  Absent a floor vote, the California bill will not obtain the required approval of the California Legislature to put it on the November 2020 ballot. Continue reading “Wealthy Californians (and their Children) Can Breathe a Sigh of Relief”

No Password? See You In Court?

By Seth W. Krasilovsky

Many headlines have been generated over recent attempts to recover highly desired data from a locked smart device after the death of the device’s owner.  While the legal battle between Apple and the FBI over information stored by one of the San Bernardino shooting suspects in an iPhone pitted law enforcement against the technology community, it should also serve as a high profile reminder of the need to address digital passwords as part of an estate plan. Continue reading “No Password? See You In Court?”