Keeping in Touch: September/October 2017

Dominick Feld Hyde in the News

Kay Wilburn and Judy Shepura gave presentations, on September 19, at a Lincoln’s women’s symposium for financial advisors in the community.  Kay spoke about the benefits of trust planning which included topics on asset protection and tax planning for assets transferred to the next generation.  Judy spoke about decisions that need to be made as people plan for themselves to live long and well.  She also spoke about caring for elderly relatives which included topics like Social Security, Medicare vs. private insurance, levels of residential care available and how to pay for it.


Anthony Willoughby is currently serving on the board of the Alabama Federal Tax Institute as Exhibitor Chair.  Founded in 1947, The Alabama Federal Tax Clinic has provided quality educational service to Certified Public Accountants and Tax Attorneys in the Southeast.  


Vince Schilleci recently gave a presentation on “Tax Aspects to Consider in Entity Selection and Formation” and “Drafting Entity Formation Documents” on October 12th. The seminar, hosted by the National Business Institute, was called “Helping Your Clients Select the Best Entity Option.”


 

Our Current Articles


Life Insurance
A flexible tool for charitable giving

For most people, life insurance is a key component of their estate plans. For those charitably inclined, there are a variety of ways to use life insurance to increase the size of their charitable gifts or to make those gifts more cost effective. This article discusses several techniques to consider, and a sidebar explains what is deductible when donating a policy.

 



Harnessing the Power 
Powers of appointment beneficial in an uncertain estate planning environment

There are a variety of tools one can use to build flexibility into an estate plan. A power of appointment is simply a provision in an estate plan that permits another person to determine how, when and to whom certain assets in the estate or trust will be distributed. This article explains how a “holder” of a power of appointment can help ensure estate planning objectives are met.

 


Unmarried couples must consider alternative planning strategies

Unmarried couples face many of the same estate planning concerns as married couples. However, married couples can use more advantageous estate planning strategies than unmarried couples. What this means is that unmarried couples must engage in special planning to ensure that their decisions regarding asset distribution and health care are carried out per their wishes. This article details estate planning strategies available to unmarried couples.

 


Uncertainty reigns 
Estate tax repeal now a possibility

Both President Trump and the Republican majority in Congress support elimination of “death” taxes, so there is a good chance a bill to repeal the estate and generation-skipping transfer (GST) taxes will appear on the legislative agenda soon. But how will a repeal affect estate planning? This article discusses reasons why estate planning will remain essential and why dynasty trusts may begin to play a bigger role in planning strategies. A sidebar explains the pitfalls of using a formula clause. 

 


  

Dominick Feld Hyde's practice areas have grown and now comprise five broad categories: Business, Estates, Family Law, Healthcare and Tax. Within these areas, our attorneys have experience in a wide range of specialized legal services.