McGuireWoods
Legacy Planning, Once RemovedEpisodes
Episodes of Legacy Planning, Once Removed
Mark All
Search Episodes...
On this podcast, Steve has emphasized that the estate plan is designed to carry out the intent of the testator or settlor. With that in mind, it is especially important for the client to communicate those wishes, so that the trustee, beneficiar
For parents with young children, naming the guardian who will raise their children upon the parents’ passing can be one of the most important and foundational questions of an estate plan. And in fact, because this decision is so personal and im
On this podcast, we talk about the importance of flexibility in irrevocable trusts and estate planning. Once a trust is irrevocable, we can explore methods to modify that trust to address changed circumstances. But in the planning process, we c
As we have discussed on this podcast, legacy planning is not just about transferring money. It’s also about transferring values and relationships. And often the transfer of specific property goes hand-in-hand with the fostering of those values
Many clients like the idea of helping a child, grandchild or other beneficiary with the purchase of a home to give the person a “head start” and a sense of independence. But this kind of transfer can have unanticipated, adverse consequences. Th
Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift for tax purposes.
This podcast often discusses the elements of a trust, and how to grant access, control and flexibility to beneficiaries and trustees. But for tax and other purposes, the donor typically cannot retain those kinds of powers.Interestingly, the don
In previous episodes, we discussed the exemptions that apply for gift, estate and generation-skipping transfer tax. Many of these exemptions are adjusted for inflation each year. In Episode 16, we’ll review those exemptions and the adjustment f
The beginning of the year is a good time to think about annual gifts to descendants and other beneficiaries. Episode 17 will walk through some options to make efficient use of annual gifting and also address some potential pitfalls.Summary and
For this podcast and in general, we think a lot about wealth and the transfer of wealth. Of course, we should define “wealth” broadly, to include not just money and property, but also relationships, values, history and wisdom. On this podcast i
Celebrities Ashton Kutcher and Mila Kunis recently made the news with their comments about their estate planning. They plan to give all of their money to charity upon their deaths, as part of their plan to raise well-adjusted kids. In this epis
If you had to say where your will is located right now, could you? Despite the importance of that document, many clients are not sure where the original is located. In this episode, Steve discusses the case of Aretha Franklin’s will, and how th
Steve Murphy, chair of the private wealth services group, dives deeper into the subject of SLATs in this episode. SLATs can work well with estate tax benefits and creditor protection benefits, all while giving the spouse access, flexibility, an
Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through the categories of
In this episode, Steve discusses the importance of the rule-based power to remove and replace a trustee. He explores this topic through the Leo Kahn Revocable Trust case in Massachusetts. In this case, the settlor named three trustees, and one
In this episode, Steve provides insights on selecting a trustee of an ongoing trust, who may be the beneficiary or a third-party trustee. Steve will explain the advantages and disadvantages of each option, in addition to the three categories of
In this episode, Steve discusses the terms of a trust, how to ensure that the best trust structure is in place, and how to establish the right directions for a trustee to follow. He unpacks the differences between a rules-based approach with au
Steve has covered the transfer tax system of estate tax and gift tax, and generation-skipping transfer (GST) tax thus far in the Once Removed series. But there’s a separate tax regime everyone should be mindful of in estate planning: the income
Steve Murphy, chair of the private wealth services practice group, presents the case of In re Harrison. In this case, the settlors of a trust tried to go the simple route – they had the assets pass outright to their grandson for the most part.
Steve Murphy, chair of the private wealth services group, discusses four potential benefits of a trust structure and ways to balance potential concerns for your estate plan through simplicity and flexibility, on the one hand, or structure and c
Once you are removed from the equation, what kind of structure can you leave behind to increase your chances that your wishes will be carried out? Steve Murphy, chair of the private wealth services group, introduces his new podcast series in th
There is a limit on how much you can benefit future generations without incurring additional transfer tax. Tune in to this episode to learn about the Generation-Skipping Transfer Tax (GST). This is a complex tax that applies to transfers of wea
How do you ensure that your assets are passed as simply and efficiently as possible? Steve Murphy, chair of the private wealth services group at McGuireWoods, will walk you through the classes of property involved before probate, the process of
What is the goal for transferring wealth during life and upon death? Whatever your plan may be, taxes will be a part of it. However, they don’t need to be the sole factor. Steve Murphy, chair of the private wealth services practice group at McG
Join Podchaser to...
- Rate podcasts and episodes
- Follow podcasts and creators
- Create podcast and episode lists
- & much more
Unlock more with Podchaser Pro
- Audience Insights
- Contact Information
- Demographics
- Charts
- Sponsor History
- and More!
- Account
- Register
- Log In
- Find Friends
- Resources
- Help Center
- Blog
- API
Podchaser is the ultimate destination for podcast data, search, and discovery. Learn More
- © 2024 Podchaser, Inc.
- Privacy Policy
- Terms of Service
- Contact Us