Anchin's Trusts and Estates Services Group provides a full range of services in the areas of estate planning, wealth accumulation, succession planning and valuation services. We service more than 100 family groups. Together, we work with our clients' advisors, attorneys and financial managers to help properly plan their financial futures. As accountants and advisors, we focus on what will remain with our clients at the end of the day, and we make sure that no portion of wealth is unnecessarily lost to income and estate taxes.
- Consulting and advisory services
- Income tax planning
- Creative funding of Credit Shelter and Marital Trusts
- Pre and post-mortem planning
- Succession and estate planning
- Charitable planning
- Mediation of intra-family conflicts
- Guiding fiduciaries with trust and estate administration
- Compliance services
- Preparation of gift, trust and estate income tax returns
- Preparation of formal (judicial) and informal accountings
- Preparation of personal income tax returns
- Preparation of charitable trust and private foundation tax returns
- Income, estate and gift tax audits
- Utilizing a Roth IRA in Your Estate PlanJune 30, 2017
Roth IRAs have long been a popular tool for individuals to save for retirement, but how many people are aware that they can also be used as a key component of an estate plan?
- How to Minimize Estate IssuesJune 30, 2017
In recent years, the passing of pop culture icons has brought attention to the issue of estate matters. Michael Jackson’s death in 2009 posed an interesting estate valuation issue.
- How to Protect Your Digital Life After You’re GoneJune 30, 2017
With so much personal information stored online, it is crucial that families organize a coordinated and consistent strategy to ensure that their legacy and assets are preserved and handled as intended.
- Are you a member of the Sandwich Generation?April 28, 2017
Five critical steps for adult children to take when handling the financial affairs of their parents
- Gray Divorce: The Financial Challenges and OpportunitiesApril 20, 2017
Mela Garber, Leader of Anchin's Matrimonial Advisory Group, explains why some older couples may separate and advises women who married young and may not have financial experience to work with a financial planner.
- When is it time to update your estate plan?March 31, 2017
Because it is implied that the documents are supposed to outlive the deceased, many people wrongly assume that they just need to create a set of documents one time and not review them again.
- How to Prepare to Care for a Sick SpouseMarch 31, 2017
At a time when people are at their most vulnerable, they are often expected to make some of the most difficult financial decisions. This is why putting a plan in place when all parties are healthy is so important.
- Bitcoin: It’s Not Just a Currency, It’s an Asset ClassJanuary 31, 2017
Individuals may know Bitcoin as a volatile digital-based currency that has been attracting headlines, but in the IRS’ eyes, Bitcoin is considered property. Commentators have noted that Bitcoin represents a new type of asset class. For investors and philanthropists, the IRS classification of Bitcoin as an asset class (and not as a currency) may provide unique gifting and estate planning opportunities.
- The Value of Life Insurance if Trump Repeals the Federal Estate TaxDecember 19, 2016
A few things to consider before making any hasty cancelation decisions
- Wills Can Provide for Both Education and Starting out in BusinessSeptember 29, 2016
Planning for the education of your family should be a consideration as part of a will
- Skipping a Generation - Why and HowAugust 31, 2016
Leaving assets to grandchildren might make sense for some estates with multi-generational goals
- IRS Proposed Regulations Target Gift and Estate Tax Planning StrategiesAugust 11, 2016
The IRS has released proposed regulations that would close so-called tax loopholes that many wealthy taxpayers have used to minimize transfer taxes (such as gift and estate taxes) when transferring interests in a closely held family business to relatives.
- Thinking About “Death” Can Improve Quality of LifeJune 1, 2016
Estate planning is critical to generational wealth transfer and preservation strategies.
- Family Financial Meetings Should Have a Place on Your CalendarApril 11, 2016
Mela Garber, Trust and Estates Services Chair, explains how parents can avoid estate issues with a letter explaining any distribution inequalities to their children.
- Why Your Spouse Should Be at the Center of Your Estate PlanningMay 27, 2015
If you’re wondering who’s going to make sure your wishes are met after you die, your spouse is likely the first person you should consider.
- How to Set Up a Trust Without Costing Your Children a CentApril 17, 2015
If personal finance was a teen movie, the trust would be the blonde, snotty rich kid who wins all the ski races and uses his flawless martial arts technique to sweep some working-class kid’s injured leg.
- Estate planning: How to leave IRA to heirsMarch 5, 2015
No one would accuse IRAs of being easy to understand. The retirement accounts seem fairly straightforward on the surface, but they can get complicated, especially after you die.
- New York State Gift, Estate and Trust Law ChangesMay 13, 2014
New York State recently enacted some significant tax law changes. Contained within the new budget are critical gift, estate and trust topics that should be addressed immediately by New York residents as well as beneficiaries of exempt resident trusts.
- Anchin’s Trusts and Estates Market UpdateMarch 26, 2014
Trust formation spiked in 2012, resulting in an increased need for formal (judicial) and informal accountings. The preparation of these formal (judicial) and informal accountings is a multifaceted process. Anchin’s Trusts and Estates Services Group provides expertise and in-depth knowledge essential to successfully prepare multistate judicial accountings.
- Gifting: How to Leverage 529 Education PlansJune 6, 2017
Anchin Partner E. Richard Baum discusses leveraging 529 education accounts, gift tax annual exclusions, gift maximums, the tax benefits of gifting in advance, and other important considerations.
- Valuation Discounts: Opportunities for Privately Held BusinessesJune 6, 2017
Anchin Tax Partner E. Richard Baum discusses valuation discounts and how older generations may gift interest in a business to the next generation at less than the full value through buy-sell agreements and cross-purchase agreements funded using life insurance.
- The Impact of a Potential Repeal of the Federal Estate TaxMay 22, 2017
Anchin Partner E. Richard Baum discusses the role of life insurance in planning for the federal estate tax and explores the potential repercussions, should these