In military operations, planners often describe conditions as volatile, uncertain, complex and ambiguous (VUCA). From time to time, estate and tax planners use the same words to describe an epoch in estate planning. This is one of those times. Estate and tax planners should focus on advice that gives clients and their trustees what they most often need in these VUCA circumstances: confidence and optionality. Here are three pieces of advice to navigate these times.
Pick Best Trust Location
Clients often seek to increase optionality by selecting, as the jurisdiction whose laws will govern the administration of the trusts they create, the state that allows for the greatest flexibility for minimizing taxes due and changing the governing law,…
