In this episode of 'Trust Us,' Danielle Friedman, Max McCauley, and Herb Fineburg discuss a complex estate planning scenario from a recent article. A father of three sons, two from his first marriage and one from a later relationship, grapples with the decision of whether to divide his estate equally among his children despite differences in their financial situations. The conversation delves into the potential problems with unequal distribution, the complexities of pot trusts, and the use of disclaimers. They highlight the importance of maintaining family harmony through equal treatment while addressing future wealth concerns. The team also emphasizes the necessity of updating estate plans regularly to reflect current wishes and relationships.

00:00 Introduction and Overview
00:48 Reader's Dilemma: Balancing Inheritance
02:05 Danielle's Perspective: Assumptions and Fairness
02:50 Max's Advice: Equal Shares to Avoid Conflict
04:15 Estate Planning Tools: Disclaimers and Pot Trusts
07:27 Real-Life Scenarios: Wealth Disparities Among Children
10:20 Practical Solutions: Trusts and Equal Shares
17:56 Stepchildren and Estate Planning
18:42 Conclusion and Final Thoughts

If you are interested in learning more or have any questions, please feel free to contact Danielle at danielle.friedman@offitkurman.com, Herb at hfineburg@offitkurman.com, and Max at cmccauley@offitkurman.com.

In this episode of Trust Us, Danielle Friedman, Max McCauley, and Herb Fineburg discuss the recent changes brought by the One Big Beautiful Bill Act, which raised the estate tax exemption level starting January 1, 2026. Despite the increased exemption, the hosts recommend continuing with estate planning and gifting during a person's lifetime due to potential future changes in the law and state inheritance taxes. They emphasize the advantages of lifetime gifting to irrevocable trusts, the importance of initiating the statute of limitations for gift tax returns, and strategies for minimizing state inheritance taxes. The episode concludes with advice to review current estate plans to maximize the benefits of the new exemption levels.

• (00:00) - Introduction to the One Big Beautiful Bill Act
• (01:11) - Understanding the New Exemption Limits
• (02:08) - Gifting Strategies and Exemption Usage
• (04:04) - Potential Changes and Risks
• (05:01) - Advantages of Using the Exemption Now
• (07:57) - State Inheritance and Estate Tax Considerations
• (10:40) - Reviewing and Updating Estate Plans
• (12:24) - Conclusion and Final Thoughts

In this episode of 'Trust Us,' Danielle Friedman, Max McCauley, and Herb Fineburg discuss the critical aspects of selecting a trustee. They cover common client questions, including who should be named as a trustee, the benefits and drawbacks of having a corporate versus an individual trustee, and the specific limitations and responsibilities of beneficiary trustees. The discussion also delves into scenarios where independent trustees may be beneficial, trustee compensation, and the process for naming successor trustees. The episode aims to provide a comprehensive overview to help clients make informed decisions in their estate planning.

00:00 Introduction and Welcome
00:51 Key Considerations in Choosing a Trustee
02:32 Beneficiary as Trustee: Pros and Cons
04:39 Independent Trustees and Their Benefits
09:30 Trustee Selection: Family Members vs. Professionals
17:41 Trustee Compensation and Responsibilities
22:30 Conclusion and Final Thoughts

If you are interested in learning more or have any questions, please feel free to contact Danielle at danielle.friedman@offitkurman.com, Herb at hfineburg@offitkurman.com, and Max at cmccauley@offitkurman.com.