What are a couple of benefits of estate preparation with a Grantor Retained Annuity Trust (GRAT)?

What are a couple of benefits of estate preparation with a Grantor Retained Annuity Trust (GRAT)?

In the new Legal Forum Column, John S. Lueken went over several advantages of estate planning with a GRAT. Read his guidance below and put on t miss our monthly Legal Forum Column in Louisville Business First. You may find best patent attorney layer here.

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What are a few advantages of estate planning with a Grantor

Retained Annuity Trust (GRAT)?

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A GRAT is a trust created and funded by a specific (customer) which pays the client an annuity for a certain number of years. At the end of its term, the GRAT terminates and any remaining possessions are distributed to the named beneficiary with very little to no present tax expense. When drafted and funded correctly, a GRAT can transfer a considerable amount of wealth tax-free to designated beneficiaries.

Unlike many estate planning techniques, the customer can have substantial access to GRAT possessions and can substitute assets, modification beneficiaries, and otherwise customize the GRAT to suit his or her changing requirements. While the potential estate and present tax-savings are substantial, there are a number of dangers to this preparation method. An estate planning lawyer can help you reduce these threats through mindful preparation and routine change as required.

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27 May 2016

Greenberg Traurig Donates Services for Holocaust Survivor Estate Preparation Clinics

FORT LAUDERDALE, Fla. (PRWEB) May 20, 2016International law firm Greenberg Traurig is hosting totally free Estate Planning Clinics for Holocaust survivors in conjunction with Dr. Stanley and Pearl Goodman Jewish Family Services of Broward and Ruth & Norman Rales Jewish Family Services, Inc.

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. The first clinic was held Sunday, May 15 at the Goodman Jewish Family Service Center in Plantation.

Greenberg Traurig lawyers from the Fort Lauderdale, Boca Raton and Miami are offering pro bono legal services and helping the Holocaust survivors prepare estate preparation documents, including wills, healthcare advance instructions, and resilient powers of attorney. The occasion, arranged by Fort Lauderdale Trusts & Estates Shareholder Parker F. Taylor, belongs to an ongoing program of centers for Holocaust survivors that the firm continues to host throughout South Florida.

In keeping with Greenberg Traurig’s enduring dedication to giving back to the neighborhood, we are proud to offer pro bono estate preparation clinics to assist a few of our neighborhood s most vulnerable members Holocaust survivors, Taylor stated. There is a severe need to assist aging Holocaust survivors assemble the important legal files they need to legitimately secure their estates and we are happy to provide our legal support.

Other Greenberg Traurig lawyers participating in the program consist of: Miami Trusts & Estates Associate Benjamin Babcock, Fort Lauderdale Tax Associate Jared S. Baumwell, Fort Lauderdale Trusts & Estates Resident Attorney Eun K. Chan, Fort Lauderdale Corporate & Securities Resident Attorney Elizaveta E. Ivanova, Fort Lauderdale Litigation Shareholder Sara Levy, Boca Raton Litigation Shareholder and Ruth & Norman Rales Jewish Family Services Board Member Stephen A. Mendelsohn, Fort Lauderdale Litigation Associate Richard B. Rosengarten and Fort Lauderdale Litigation Shareholder Caran Rothchild.

 

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Goodman JFS is extremely grateful for Greenberg Traurig’s assistance, assisting to satisfy the needs of the survivors in the neighborhood during this stage in their life, said Elizabeth Sumpf, accredited medical social worker with Goodman JFS. Without the assistance of Greenberg Traurig we would be unable to help survivors complete their end of life instructions and guarantee their desires are carried out after they are gone.

Ruth & Norman Rales Jewish Family Services is happy to support this center and we thank the Greenberg Traurig attorneys for donating their time to our clients, stated Danielle Hartman, President & CEO of Ruth & Norman Rales Jewish Family Services.

 

In addition to the estate preparation center, Greenberg Traurig has actually hosted other pro bono clinics over the last few years for Holocaust survivors. Between 2008 and 2010, more than 40 Greenberg Traurig lawyers from six workplaces provided legal services to more than 100 Holocaust survivors, allowing them to start getting reparations from the German government. It’s approximated that there are close to 130,000 Holocaust survivors in the U.S. and 30 percent are living at or below the poverty line which is three times the poverty rate for many older Americans.

Organizations in South Florida thinking about scheduling Holocaust Survivor Estate Planning Clinics with Greenberg Traurig must contact Dawn R. Wolf, Pro Bono Coordinator, at 202-530-8545 or wolfda(at) gtlaw.com.

27 May 2016

Symposium to cover subjects from land and water rights to estate preparation May 20 in Lufkin

The Texas A&M AgriLife Extension Service in Angelina County will host a symposium on May 20 for residents with questions on subjects ranging from land and water rights to estate preparation and lease settlements.

The event, titled Land, Water and Wealth: Legal and Regulatory Symposium for East Texas Agriculture, will be held at the AgriLife Extension office for Angelina, 2201 S. Medford Dr. in Lufkin. It will include lawyers Jim Bradbury of Fort Worth, who will go over water law, easement negotiations and eminent domain, and Tiffany Dowell Lashmet, AgriLife Extension farming law specialist, Amarillo, who will go over estate planning and settlement of agriculture leases.

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The occasion is $30 for people and $50 for couples. It is sponsored by AgriLife Extension workplaces in Houston, Angelina, Polk, Tyler, Trinity, Cherokee and San Augustine counties and the United States Department of Agriculture.

AgriLife Extension agent for Angelina County Cary Sims stated the occasion is a chance for landowners and farming operators to ask questions of attorneys who are professionals in their respective legal fields.

c3Sims stated landowners and manufacturers ought to know federal and state laws that could affect their properties and the rights afforded them.

During the lunch hour, state Sen. Robert Nichols, Jacksonville, and state Rep. Trent Ashby, Lufkin, will take part in a panel concern and answer session about new state laws, the upcoming Texas Legislature and existing subject’s landowners in East Texas should be aware of.

We’re attempting to get folks caught up on laws and regulations that can affect their property, Sims said.

 

27 May 2016

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