Posted on: July 10, 2025
The irrevocable life insurance trust (ILIT) has long been a staple of estate planning, but many people are now searching for ways of undoing an irrevocable life insurance trust. This tool is designed to hold life insurance policies and remove the death benefit proceeds from an individual’s taxable estate (meaning that the value is not […]
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Posted on: June 23, 2025
Estate planning for couples in a second or subsequent marriage can be challenging, especially if their estates are of unequal value. One solution that allows the more affluent spouse to maintain control of their property and wealth, while minimizing potential estate taxes and keeping their spouse happy, is the lifetime qualified terminable interest property (QTIP) […]
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Posted on: June 16, 2025
Most people may be surprised to learn that some consider the federal estate tax to be voluntary. Estate planning attorneys used to say, “You only pay if you do not plan.” The relatively recent introduction of portability provides yet another planning tool available to married couples to minimize federal estate tax with portability and eliminate […]
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Posted on: March 10, 2025
Suppose the last time you and your spouse updated your estate plan was over a decade ago. In that case, your estate plan may contain what is sometimes referred to as AB trust planning, which, until 2011, was the only way married couples could take advantage of both spouses’ federal estate tax exemptions. Initial Reasons […]
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Posted on: June 3, 2024
The U.S. Department of the Treasury has released its General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals. Commonly referred to as the Greenbook, this document lays out tax proposals that would support President Biden’s policy priorities if he is reelected to a second term. This year’s Greenbook primarily focuses on increasing taxes on […]
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Posted on: May 13, 2024
The Internal Revenue Code assesses a tax (gift or estate) on transferring money or property from one person to another during life or at death, with some exceptions. One example is the Self-Canceling Installment Note, which we will discuss in this post. If you own accounts or properties worth a lot of money and expect […]
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Posted on: January 25, 2024
Emily’s Journey into Estate Planning Emily, a successful Austin-based engineer and mother, faced a crucial challenge: securing her family’s financial future. Like many high-income professionals with minor children, she sought a reliable way to manage her estate. Her exploration led her to discover the value of an Irrevocable Life Insurance Trust (ILIT). Understanding ILITs An […]
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Posted on: January 15, 2024
Austin’s High-Earning Families and the Potential Shift in Estate Planning As Austin’s estate planning specialists, we’re at the forefront of advising affluent families—particularly those married professionals with young dependents and substantial incomes—on safeguarding their assets. With discussions swirling about potential estate tax increases, it’s prudent to consider proactive strategic estate planning moves now. The Current […]
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Posted on: December 17, 2023
As families in Austin enjoy the vibrant holiday lights at the JW downtown, their conversations often turn toward a less festive but critically important topic: the impending changes in estate tax exemptions set for 2026. For high-income parents with minor children, understanding and preparing for these changes is essential in navigating the 2026 estate tax […]
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