Why this book matters.
President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017 making massive changes to business, personal, and estate tax rules. Every aspect of planning will be affected: asset protection, charitable giving, planning for itemized deductions, choice of entity, trust income tax planning, the structure of trusts (grantor vs. non-grantor, ING, SLATs, DAPTs, etc.), and more.
This is the most sweeping tax legislation since the 1986 tax act. It might also be the most quickly cobbled together and passed piece of major tax legislation ever, creating a myriad of questions and issues. It will transform estate planning.
For many clients, income tax planning (and not just basis maximization) will be the new driver to motivate clients. New trust techniques will help practitioners serve this changing dynamic. This book explains many of the new provisions and explores how planning will change, with an emphasis on estate and transfer tax planning and tax planning for individuals.
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What we cover.
ESTATE PLANNING contains 173 pages of practical advice on how to guide clients on updating existing plans for the new law, creative ideas to deal with the new law, practice management ideas, and much more. Over 90,000 words total!
This new legislation will dramatically affect the way we help clients manage their estates. Timely intel in this book will guide your strategy for coping with change.
Who this affects.
The book reviews and explains the new law, but most importantly—points out many new and in some cases novel planning ideas that can help practitioners advise and service their clients.
The spectrum of ideas covers planning for modest wealth to ultra-high net worth clients and should thus have useful information for every practitioner.
Examples you can use.
Lots of sample clauses will help lawyers to draft new types of trusts.
Sample calculations and examples will help CPAs, financial advisers and insurance consultants advise clients on planning steps to take.
The book not only analyzes, explains, and illustrates the new law, but has sections organized by type of client, type of business, planning goal, and more to help you quickly identify steps to take for every estate planning client.
Stephan R. Leimberg, Leimberg Information Services Inc (LISI)
Every tax professional in the country will (or should be) reading this book! This resource arms you, not only with the necessary and vital information you need to know, but also the thinking and planning concepts of three of the brightest minds in the tax world!
Sidney Kess, JD, LLM, CPA
This book is an incredibly creative treatment of the new tax laws. It provides CPAs, attorneys, financial advisers, insurance consultants, and trust officers more than an explanation of new rules. This book provides insights and ideas on what practical steps practitioners can take to help their clients thrive under this new and very different tax regime. This is a must read for estate planners in every discipline.
Alan S. Gassman, Gassman, Crotty and Denicolo, P.A
This essential book covers, not only the new law, but a great many practical aspects and strategies that advisors and their clients need to be aware of. Any book that Jonathan Blattmachr and Martin Shenkman writes should be required reading for all estate and income tax planners, and any book they write together is 5 times as important.
Michael L. Graham, The Graham Law Firm
This much insightful information and analysis, this quickly, from such a talented group as Shenkman, Matak, and Blattmachr, is simply extraordinary. I would have expected to pay more for a one hour seminar, yet I am getting the entire book with all of their discussion and reasoning. It is a critical addition to my library and I am so pleased that it is already available.