Most advisors who, including many who specialize wealth planning, frequently fail to appreciate the most fundamental fact of estate planning: It is always better for their clients and their descendants to receive wealth in trust than to receive those same assets outright. Tragically, they fail to appreciate the powerful benefits that trusts provide as well as the enormous and unnecessary loss of assets that most families will suffer if wealth is passed either outright or in a trust that is inadequately designed, implemented and operated. This session will explain the ultimate trust design strategy to provide maximum income and estate tax benefits, and creditor and divorce protection for your clients. The session will also discuss why trusts are likely to be the most powerful income tax shelter device that your clients and how trusts can be used to obtain multiple basis step-up.
How trusts can be designed to shelter wealth from estate taxes, creditors, divorcing spouses and many income taxes without giving up control.
To dispel popular “myths” that trusts are too complex; too controlling; too expensive and are income tax inefficient, when the opposite is true.
To illustrate the law of unintended consequences that control plus beneficial enjoyment is always superior to owning wealth outright.
Why trusts are not only for the wealthy, but why they should be used by almost all of our clients.
To learn the “best” way to own property.
Richard A. Oshins is a member of the Las Vegas law firm of Oshins & Associates, LLC where he concentrates in tax and estate planning with a substantial emphasis on multi-generational wealth planning particularly with regard to closely held businesses. He is regarded as one of America’s top estate planning lawyers advising wealthy clients throughout the United States. Mr. Oshins is also an advisor and consultant to many of the largest financial institutions in the United States. He has been listed in both The Best Lawyers in America and Martindale-Hubbell's list of Preeminent Lawyers from their inception, and has been honored as a recipient of the “Distinguished Accredited Estate Planner” award and inducted into the Estate Planning Hall of Fame in 2007 by the National Association of Estate Planners & Councils. He was named the Las Vegas Tax Law Lawyer of the Year in 2013 and the Las Vegas Trusts and Estates Lawyer of the Year in 2014 by The Best Lawyers in America. He has also been named one of the 24 “Elite Estate Planning Attorneys” in America by The Trust Advisor. He received a J.D. degree from St. John’s School of Law, and holds an M.B.A. degree in taxation with honors from the University of California at Berkeley, and a LL.M degree in taxation with honors from George Washington University School of Law.