Trust and Estate Counsel

Tennessee Estate Planning Law

Insight and commentary on estate planning issues impacting affluent residents of Tennessee

Estate Planning Fixes

James Gooch and I recently made a presentation to the Tennessee Federal Tax Conference. The title of our presentation was “Estate Planning Fixes.” We discussed solutions to problems that can arise with respect to Life Insurance Trusts, Family Limited Partnerships (“FLPs”), Grantor Retained Annuity Trusts (“GRATs”), Qualified Personal Residence Trusts (“QPRTs”), Charitable Remainder Trusts (“CRTs”) and Uniform Transfers to Minors accounts.

Planning for the presentation caused me to realize how much time I spend helping clients to improve prior estate planning arrangements. The good news is that there are lots of tools available to fix problems. Furthermore, more transactions are being structured with “escape hatches” that allow modifications to accommodate changed circumstances.