In an ever-evolving landscape, it’s crucial to audit an estate plan and ensure it keeps pace with your life. On this episode, Partners Erin Nicholls and Michael Clear dive into the importance of revisiting your estate plan, examining the impact
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Ep. 29 – The Estate Plan Audit: Addressing Changes in Assets, Relationships and Taxes
In an ever-evolving landscape, it’s crucial to audit an estate plan and ensure it keeps pace with your life. On this episode, Partners Erin Nicholls and Michael Clear dive into the importance of revisiting your estate plan, examining the impact
The Entrepreneur’s Guide to Equity: Structuring for Success
Discover the intersection between founding ventures and estate planning on today’s episode of Future Focused. Wiggin and Dana Partner Jack Sousa, a founder of wiggin(x) and co-chair of our Emerging Company and Venture Capital Group sits down with Partners
Navigating Trust Taxation: State Income Tax
Like individuals, trusts are subject to income tax by the federal government and a majority of states. If a trust is characterized as a “grantor” trust, then its income is reported by the grantor thereof, who is usually the trust
A Guide for Business Owners: Navigating the Complexities of Estate Planning
Business owners have their own set of challenges to address when considering estate planning strategies, including family concerns, personal concerns and operation of the business itself. On this episode, Partner Michael Clear supplies a roadmap of estate planning options for
Common Income Tax Compliance for Estates
Income tax reporting obligations do not cease at death. In fact, there may be multiple taxpayers required to file income tax returns after the death of an individual. For example, the decedent, the executor of the decedent’s estate and trustees
SLATS — Spousal Lifetime Access Trusts
While historically high federal transfer tax exemptions remain in effect, the Spousal Lifetime Access Trust (“SLAT”) (also sometimes referred to as a Spousal Estate Reduction Trust, or “SERT”) remains one of the most effective planning techniques for married clients.
Commonly Asked Questions on Funding Revocable Trusts
Congratulations, you just signed your Will and your Revocable Trust. You set out clear directions on how your assets should pass at your death. Your heirs will be grateful. But there is more you can do to ease the burden
Directed Trusts in Connecticut
A directed trust is a sophisticated planning technique that divides the traditional duties of a trustee among more than one person or institution. Unlike a standard trust with multiple co-trustees, all of whom would share the same duties, a directed
The CTA is Here to Stay: Reporting Requirements under the Corporate Transparency Act
On this episode, Partners Michael Clear and Erin Nicholls review the requirements under the Corporate Transparency Act (“CTA”) now in effect. They discuss what exemptions are available to entities, who the beneficial owners are, when to file reports, and other