Corliss Law Group, P.C.

Are your powers of attorney still relevant?

2026-05-29T08:53:44Z

Life changes constantly, and the legal documents you created years ago might not reflect your current situation. Powers of attorney are essential documents that authorize a trusted individual to act for you when you cannot manage your own affairs. However, many people create these documents and then forget about them for decades. This oversight could lead to serious complications when you need them most.

Why regular updates matter

Your circumstances today are likely different from when you first signed your power of attorney documents. Perhaps you have moved to a different state, gotten married or divorced, or experienced changes in your financial situation. The person you named as your agent might have passed away, moved far away or simply may no longer be the best choice for this responsibility. Financial institutions and healthcare providers often scrutinize older documents more carefully. Some may even reject powers of attorney that are more than a few years old, questioning their validity or whether they reflect your current wishes. This scrutiny can create frustrating delays precisely when quick action is necessary. State laws governing powers of attorney also evolve. A document that was perfectly valid when you created it might not meet current legal standards. Regular reviews ensure your documents comply with the most recent requirements and provide the authority your agent actually needs to help you.

When you should consider reviewing your documents

Consider reviewing your powers of attorney every three to five years, even if nothing major has changed in your life. You may also want to revisit them after significant life events such as marriage, divorce, the birth of children, retirement or substantial changes in your assets. If you have relocated to another state, reviewing your documents becomes especially important since each state has different rules and requirements. What worked in your previous state might not be sufficient in your new home. Taking time to keep your powers of attorney current is not about expecting the worst. Rather, it is about being prepared and ensuring that your wishes can be carried out smoothly if the need arises. A periodic review can provide peace of mind and help avoid potential problems down the road.

Revocable vs. irrevocable trusts: which should I add to my plan?

2026-02-25T07:06:24Z

Planning for the unknown can feel daunting, especially when everyday responsibilities already take up much of your time. Many people understand that estate planning matters, but few really know where to begin or which tools actually fit their situation. Learning how core estate planning tools work, including different types of trusts, helps turn uncertainty into a manageable first step. With a clearer understanding, you can begin shaping a plan that reflects your priorities and prepares your family for the future.

How revocable and irrevocable trusts differ

The main difference between revocable and irrevocable trusts comes down to control and ownership. A revocable trust allows you to keep authority over the assets you place into it. You can update its terms, move property in or out, or dissolve the trust if your needs change. Many people use revocable trusts to hold a family home or investment accounts because they help avoid probate, maintain privacy and allow for flexibility during life.

An irrevocable trust works differently. Once assets are transferred, you usually give up ownership and the ability to make changes. While this loss of control can feel limiting, it also creates added protection. Assets in an irrevocable trust may sit outside your taxable estate and often receive protection from creditors or legal claims. Life insurance policies, for example, commonly belong in irrevocable trusts designed to preserve value for beneficiaries.

How taxes affect trust decisions

Tax considerations affect each type of trust in different ways. A revocable trust does not provide federal estate tax benefits for most people because the assets are still treated as personally owned. However, property held in a revocable trust often qualifies for a step-up in tax basis at death, helping reduce potential capital gains taxes for heirs who sell the asset later.

Irrevocable trusts operate under a different tax framework. Because assets placed in an irrevocable trust are no longer considered part of your estate, they may reduce future estate tax exposure. This distinction often matters for families with higher-value assets or long-term wealth preservation goals.

Choosing the right trust for your estate plan

Before deciding which trust fits your goals, it helps to consider:

How much flexibility you want as circumstances change
Whether asset protection is a priority
If tax planning is a concern
Whether avoiding probate matters to your family
How comfortable you are giving up control over certain assets

These factors often show that estate planning involves balance rather than a single decision.

Building a plan for peace of mind

Trusts work best when they reflect your goals and comply with state law. An experienced estate planning attorney can help you evaluate your options and create a plan that supports your family over time. With the right guidance, estate planning becomes less overwhelming and more purposeful.

Can you keep your home and still qualify for Medicaid in NY?

2025-11-25T16:16:30Z

When thinking about long-term care, one of the biggest worries is losing your home to qualify for Medicaid. Many people assume they must sell or spend down their property first. In New York, the rules are more flexible than most realize. With the right planning, you may keep your home and still receive Medicaid benefits for nursing home or in-home care.

How Medicaid views your primary residence

Medicaid treats your primary home differently from other assets. As long as the home’s equity value is under a certain limit and you intend to return there, it is often exempt from the eligibility calculation. This means the home does not have to be sold before applying for Medicaid. In New York, this exemption applies even if you move into a nursing facility, as long as you express an intent to return home.

What happens when a spouse or dependent lives at home

If your spouse or a dependent relative continues living in the home, Medicaid will not count it as a resource. This protection is called the "spousal impoverishment rule." It allows the healthy spouse to remain in the home without being forced to sell or deplete assets. Planning early can help preserve this protection and prevent unnecessary financial strain.

How to protect your home for future generations

Although your home may be exempt during your lifetime, Medicaid may seek reimbursement from your estate after your death. This process, called estate recovery, allows the state to collect what it paid for your care. Many families use a Medicaid asset protection trust to transfer ownership of the home while retaining the right to live in it. If created and funded more than five years before applying for Medicaid, the home is typically protected from recovery.

Planning ahead to keep your options open

Timing plays a key role in Medicaid planning. Waiting until health declines can limit your options and increase financial risk. By setting up the right legal tools early, you can keep your home, qualify for care, and preserve assets for your family.

Which trust offers more privacy, revocable or irrevocable?

2025-09-02T16:01:51Z

Planning for the future often raises questions about privacy. Families want to know how much of their financial and personal information will remain confidential. Two popular estate planning tools—revocable trusts and irrevocable trusts—handle privacy in different ways. Understanding how each one works can help in deciding which option better protects sensitive details.

Privacy with a revocable trust

A revocable trust allows the person who creates it to keep control of assets during life. Because it bypasses probate, the details of the trust do not usually enter the public record when the creator passes away. This means account balances, property holdings, and beneficiary names stay out of probate court filings. However, the trust can be changed or revoked at any time, which makes it more transparent to creditors during the creator’s lifetime.

Privacy with an irrevocable trust

An irrevocable trust removes assets from the creator’s ownership once the trust is formed. This step offers stronger protection of personal and financial details because those assets no longer belong directly to the individual. Since the trust cannot be altered without the agreement of its beneficiaries, it places a firmer wall between the person’s estate and public inquiries. For those seeking long-term confidentiality, this option often provides greater privacy than a revocable trust.

Considering personal priorities

The choice between these trusts depends on the balance between flexibility and discretion. A revocable trust allows ongoing control and easy adjustments but offers less protection from creditors. An irrevocable trust locks in terms that protect both privacy and assets, though it requires giving up control. Families weighing these options need to think carefully about what matters most—retaining authority over property or ensuring stronger confidentiality. Privacy plays a major role in estate planning, and each type of trust provides different benefits. By considering individual goals and the level of protection desired, it becomes easier to choose the structure that aligns most with future plans.

Key estate planning adjustments following divorce

2025-06-08T07:03:04Z

Divorce is a challenging life transition that often brings significant emotional and legal changes. Amidst the upheaval, updating your estate plan might not be top of mind, yet it is crucial. Life events such as divorce necessitate a review of your estate documents to ensure they reflect your current wishes and protect your interests.

Make a new will

After a divorce, it is essential to revisit your will. You might need to update your beneficiaries if you previously included your ex-spouse. Creating a new will allows you to clearly designate beneficiaries who align with your current intentions. This ensures your assets and property go to the individuals you choose, rather than defaulting to outdated designations.

Update guardianship for minor children

If you have minor children, it is important to update your guardianship preferences. Typically, your surviving spouse would gain custody if you pass away, but circumstances can change. Designate a guardian who can provide for your children's support, maintenance, education, and health care if needed.

Revise power of attorney and health care directives

During marriage, it is common to appoint a spouse as your agent for financial and health care decisions. Post-divorce, you may not want your ex-spouse to maintain this authority. Some states automatically disqualify ex-spouses as agents, but it is wise to proactively update these documents. Assign trusted individuals who can handle your financial affairs and make health care decisions if you become incapacitated.

Review beneficiary designations

Many assets, such as bank accounts and life insurance policies, transfer outside of a will through beneficiary designations. After a divorce, review and update these designations to prevent your ex-spouse from receiving unintended benefits. Contact your financial institutions and insurance companies to obtain and submit change of beneficiary forms.

Encourage family members to reassess estate plans

Your divorce might impact estate plans beyond your own. Family members, such as parents, may have named your former spouse in their estate documents. Encourage them to review their plans to align with their current wishes. This proactive approach helps avoid potential conflicts or unintended outcomes. Updating your estate plan after divorce may seem daunting, but it is straightforward and essential. You can utilize state-specific online forms or seek guidance from an estate planning attorney. By taking these steps, you secure peace of mind and ensure your estate reflects your current life circumstances.

How do you choose a power of attorney?

2025-03-12T15:46:36Z

Choosing a power of attorney (POA) is an important decision that can impact your future well-being and financial security. This person will make decisions on your behalf if you become unable to do so. Selecting the right individual requires careful thought and planning.

Understand the types of power of attorney

There are different types of POA, and each serves a specific purpose. A general POA grants broad authority over financial and legal matters but becomes invalid if you lose mental capacity. A durable POA remains in effect even if you become incapacitated. A healthcare POA gives someone the authority to make medical decisions for you. Understanding these differences helps you choose the right option for your needs.

Choose someone trustworthy and responsible

Your POA should be a person you trust completely. They will have control over important financial, medical, or legal matters. Look for someone responsible, organized, and capable of making decisions under pressure. Many people choose a spouse, adult child, or close friend, but it should be someone who understands your values and wishes.

Consider their financial and legal knowledge

A POA does not need to be an attorney or financial professional, but they should have a basic understanding of financial and legal matters. If they will be handling complex finances, experience in budgeting, investments, and bill payments is beneficial. For healthcare decisions, they should be comfortable discussing medical issues with doctors and advocating for your wishes.

Discuss your wishes in advance

Before granting POA, talk with the person about your expectations. Explain how you want your financial and healthcare decisions handled. Providing clear instructions can help prevent confusion or disagreements later. If necessary, consult with professionals to ensure your POA documents align with state laws. Choosing a POA is a major step in planning for the future. Selecting the right person ensures that your wishes are followed and your affairs are managed properly.

What is the importance of DPOAs in second marriages?

2024-12-12T16:19:14Z

Second marriages often create challenges in estate planning, especially when addressing money, healthcare decisions, and blended family relationships. Durable powers of attorney (DPOA) clarify financial and medical decisions to match the couple’s wishes. These documents outline instructions and protect all parties.

What is a durable power of attorney?

A durable power of attorney authorizes a chosen person, called an agent, to make decisions for someone else, known as the principal, when the principal cannot. Unlike a regular power of attorney, a DPOA continues to function even if the principal becomes unable to make decisions. This structure ensures important tasks continue without disruption.

Handling money in a second marriage

Blended families often juggle shared and separate finances alongside obligations from previous marriages. A financial DPOA authorizes a trusted agent to manage tasks like paying bills, overseeing investments, and following property agreements. Naming an agent helps prevent disputes among stepchildren, spouses, and other relatives, ensuring smoother operations.

Making healthcare decisions

A healthcare DPOA grants authority to an agent to make medical decisions if the principal becomes unable to do so. In second marriages, this ensures the spouse’s preferences take priority while honoring agreements involving children from earlier marriages. Choosing the right agent reduces stress and fosters agreement.

Preventing family arguments

Blended families often encounter disagreements about financial or medical choices. A DPOA assigns clear authority, removes confusion, and avoids conflicts. This transparency strengthens relationships and ensures decisions align with the principal’s wishes. A durable power of attorney works well with other estate planning tools like wills and trusts. Together, these tools create a reliable plan for handling money and healthcare decisions. Adding a DPOA addresses the unique needs of second marriages and blended families.

Is a power of attorney still valid if I move to another state?

2024-09-03T20:14:06Z

If you are planning a move from one state to another, you may wonder if your legal documents are still valid. This post will discuss specifically whether powers of attorney (POA) are valid if you execute them in New York and then move to another state.

General validity of a power of attorney

In general, a power of attorney that you execute in New York is valid in another state as long as your power of attorney complies with the laws of the state where you executed it. In this case, New York.

Every state is different

It is important to note that each state has laws regarding the execution and requirements of a valid power of attorney. For example, some states require that you notarize your power of attorney, while others require that you also have witnesses. If you complied with New York laws when you executed your power of attorney, it is probably valid in different states.

Consider local laws

Most states recognize the powers granted by a power of attorney executed in another state if they do not directly conflict with local laws. You may need to revise the document if your power of attorney includes powers regulated differently in the new state.

Consider updating your POA

Even if the new state recognizes your power of attorney as valid, you may consider creating a new one that complies with local laws. This can help in the event the document or its validity is ever called into question. If you create a new power of attorney, formally revoke the old one. You can usually accomplish this by writing a revocation letter and informing your agent. It is best to discuss the situation with your attorney before you move so you can be confident that you are doing things correctly. Typically, if you create and execute a power of attorney in New York, it will be valid in other states. However, if you want to avoid any confusion or complications, speak with your attorney about the possibility of revoking the old one and creating a new one that complies with the laws of the state where you are moving.

5 signs that indicate an older person cannot drive safely

2024-06-04T20:21:34Z

Driving is a key part of independence for many older adults. However, aging can bring along physical and mental changes that may impact driving abilities. Recognizing these signs can help ensure the safety of older drivers and everyone on the road.

1. Difficulty with vision

Good vision is important for safe driving. However, an older person may struggle to see various things such as road signs, traffic lights or pedestrians if their vision deteriorates, and they could even have trouble with glare from headlights or sunlight. If these problems occur, it could be a sign that driving is no longer safe.

2. Slower reaction times

Reaction time can help people respond to sudden changes, like a car stopping abruptly or a child running into the street. Aging often slows down reaction times, making it harder to avoid accidents. If an older person frequently brakes suddenly or reacts late to traffic signals, this may indicate unsafe driving.

3. Confusion and memory loss

Cognitive decline can affect an older person's ability to drive safely, which includes losing track of where they are on familiar routes or forgetting where they are going. Confusion at intersections or difficulty following directions are also signs of concern. These issues could lead to dangerous situations on the road.

4. Physical limitations

Driving requires physical coordination and strength. Arthritis, muscle weakness or other physical ailments can make it difficult to turn the steering wheel, press the pedals or check blind spots. If an older person struggles with serious medical conditions, it may be time to reconsider their driving status.

5. Increased accidents and close calls

A pattern of minor accidents, traffic tickets or close calls suggests declining driving skills. Even if these incidents do not result in serious injury, they indicate that an older driver is having trouble handling the car and traffic situations safely. When an elderly person can no longer drive safely, guardianship might become important to look into. Aging can be confusing and overwhelming for many individuals. Helping loved ones maintain a good quality of life while protecting their future through estate planning is important.

Legacy Insights: Navigating the Generation-Skipping Transfer Tax

2024-04-19T18:44:42Z

Your Guide to Understanding the Generation-Skipping Transfer Tax Generation-Skipping Transfer Tax 101

Many people are familiar with the existence and some aspects of estate and gift taxes. If you are part of an ultra-high-net-worth family, it is important to also understand the generationskipping transfer (GST) tax and how it may affect your particular situation. During the planning process, it is vital to consider unique family dynamics, financial goals, and values when deciding the best tax strategies to distribute your generational wealth. What Is the Generation-Skipping Transfer Tax? The government collects federal estate taxes to generate revenue when wealth is passed down to subsequent generations. When people die, they usually leave their money first to their spouses, then to their children, then to their grandchildren, and then to more distant relatives. At each passing of generational wealth, the government collects an estate tax. Wealthy families found a way to avoid estate tax by skipping a generation and transferring wealth directly to grandchildren and great-grandchildren, allowing them to pass down more wealth to future generations. Estate taxes were avoided when the skipped generation (in our example, the children) died because the children never owned the money or property. The government responded with legislation in 1976¹ and again in 1986², attempting to eliminate the transfer tax advantage of skipping a generation by imposing a GST tax when a skip occurs. This ensured that large estates still paid estate tax at each generation. The GST tax rate is currently 40 percent (the same as the highest federal estate and gift tax rate) so the tax burden on high-net-worth individuals can be substantial. Luckily, there is a GST exemption amount of $13.61 million for individuals in 2024 (the same lifetime exemption as the federal estate and gift tax exemption) that can be used when someone wants to make gifts or leave an inheritance that would otherwise be subject to the GST tax.³ If you have a significant estate, your family may need to use their GST tax exemption in addition to the estate and gift tax exemptions. Who Are the Parties Involved in a Generation-Skipping Wealth Transfer? There are typically three parties involved in a generation-skipping wealth transfer:

● The transferor: the person making the wealth transfer to an individual or a trust ● The skip person: the person receiving the money or property, who must be two or more generations removed from the individual making the transfer or is at least 37 ½ years younger than the transferor; a skip person may also be a trust in some instances ● The non-skip person or skipped person: the generation between the individual transferring wealth and the one receiving it⁴

Why Should You Be Mindful of This Tax? If you have a substantial estate and are considering making sizable gifts or bequests to skip persons, you need to work with experienced professionals to ensure that the right strategy is used to maximize your gift and minimize the tax consequences. The earlier you can get started, the better your results will be. It will take time and collaboration with trusted advisors to ensure the best possible outcome. After your estate plan is created, you will need regular reviews for updates due to changing circumstances. Professionals to Align Legal and Tax Planning Strategies You and your loved ones will need comprehensive advice when creating your estate plan to ensure that legal, financial, and tax implications are all considered in your estate planning strategy. We welcome the opportunity to collaborate with your existing advisors. When strategizing the best outcome for you, your loved ones, and your hard-earned money, it takes expertise from multiple areas to create the best plan possible. Let’s Do the Math: How Does the Generation-Skipping Transfer Tax Work? You may have considered creating a trust to transfer wealth to your grandchildren and greatgrandchildren. But you may not have considered how the generation-skipping transfer (GST) tax could affect this inheritance. To better explain how the tax would impact a gift in trust, we are going to take a look at some math. Generation-Skipping Transfer Tax Rate The federal GST tax rate matches the highest federal estate tax rate, currently set at 40 percent.⁵ For high-net-worth individuals, effective GST tax planning is crucial in managing combined estate, gift, and GST tax burdens. Generation-Skipping Transfer Tax Exemption You can transfer a specific value of money and property to skip persons (grandchildren, greatgrandchildren, other distant relatives, someone at least 37 ½ years younger, or a trust for a skip person), either during your lifetime or after death, before triggering the GST tax. This exemption equals the federal estate and gift tax exemption amount ($13.61 million in 2024). Be aware that there is no portability for the GST tax exemption. Meaning, you will need to use it or lose it. Exceptions to the Generation-Skipping Transfer Tax You and your family members may have already established a trust. If so, certain irrevocable trusts established before September 25, 1985, are grandfathered and exempt from the GST tax provisions in Section 26.2601-1(b)(1) of the Treasury Regulations. Modifications or additions to these trusts can jeopardize the exception. Additionally, gifts for educational or medical expenses to skip persons, such as Health and Education Exclusion Trusts (HEET), are excluded from the GST tax application.⁶ Calculating Generation-Skipping Transfer Tax To understand how the GST tax will affect the inheritance you leave behind, you need to do some math. The GST tax calculation relies on an inclusion ratio, indicating the extent to which a transfer is subject to GST tax. This ratio is determined by the applicable fraction, based on the amount of your GST tax exemption. An inclusion ratio of one means the direct skip or trust is fully taxable. Any number between zero and one indicates the transfer is partially subject to GST tax.⁷ The amount of the GST tax exemption allocated to the transfer is divided by the value of the property involved in the transfer. The fraction is rounded to the nearest one-thousandth (.001) and looks like this:

GST tax exemption allocated Value of property transferred

The next step is determining the inclusion ratio by subtracting the fraction from the number one. Depending on the ratio, the trust is either fully exempt, fully taxable, or partially taxable. Fully Exempt Trust Let's say you create an irrevocable trust for the benefit of a grandchild and their descendants in 2024 when your entire GST tax exemption of $13,610,000 is available and you can allocate it to the trust. If you transfer $13,610,000 (or less) worth of accounts or property to the trust and allocate your entire GST exemption, the inclusion ratio would be zero:

1 – (13,610,000 / 13,610,000) = 1 – 1.000 = 0

The trust would be fully exempt from GST tax. Fully Taxable Trust Now, let’s assume that you have previously used your GST tax exemption and there was none available to allocate to your grandchild’s irrevocable trust, the inclusion ratio would be one:

1 – (0 / 13,600,000) = 1 – 0 = 1

The trust would be fully subject to GST tax. Partially Exempt Trust Partially exempt trusts have a portion of money or property subject to the GST tax, while another portion may qualify for an exemption. If you put $15,500,000 in the irrevocable trust, and your entire exemption was available, the inclusion ratio would be:

1 – (13,610,000 / 15,500,000) = 1 – .877 = .122

The applicable fraction is .878, and the inclusion ratio is .122. The trust would be partially subject to GST tax. When distributions are made to the grandchild, there will be a tax due. To calculate how much will be owed, we first must know what the tax rate is at the time of the distribution. For example, if the rate is 40 percent,

40 percent x .122 = 4.88 percent

If your grandchild receives a taxable distribution from the trust of $125,000, the GST tax would be $6,100. For gifts or an inheritance left directly to the skip person, the formula works similarly, the inclusion ratio is multiplied by the GST tax in effect at the time of the transfer. Tailoring Trusts for Success Working closely with your other trusted advisors, we can customize your estate plan based on your unique circumstances and goals. This also ensures compliance with federal and state tax laws, preventing a significant combined estate, gift, and GST tax burden that could diminish your family’s wealth and legacy over time. What You Need to Know about the Generation-Skipping Transfer Tax Returns If you have significant wealth, things like estate, gift, and generation-skipping transfer (GST) taxes need to be discussed. If you want to make a gift or leave a large inheritance to a grandchild (while your child is still alive) a more in-depth conversation surrounding the GST tax, the impact it can have on the inheritance you leave behind, and the additional steps that may occur during the administration process after your death, will be warranted. Several different returns involve the GST tax. The appropriate form that needs to be filed with the Internal Revenue Service (IRS) will depend on the situation. What Is Form 709? This form would be used when a client decides to make a gift to a skip person during their lifetime. Form 709⁸ is used to report transfers that are subject to federal gift and certain GST taxes. This also includes the allocation of lifetime GST exemption to property transferred during the transferor’s lifetime. The IRS has provided instructions for the transferor to complete the form.⁹ What Is Form 706-GS(D-1)? Form 706-GS(D-1)¹⁰ is used for trustees of a trust to report distributions from a trust to a beneficiary that are subject to the GST tax. For additional assistance, the IRS has published instructions for completing the form.¹¹ What Is Form 706-GS(D)? Form 706-GS(D)¹² is used for skipped persons to report tax due on distributions made from a trust to them, that is subject to the GST tax. Like the other forms from the IRS, some instructions walk through the completion of the form.¹³ What Is Form 706-GS(T)? Form 706-GS(T)¹⁴ helps your trustee and any other entities or responsible parties to calculate GST taxes and report what is due from certain distributions and terminations subject to the generation-skipping tax. It includes instructions¹⁵ for tax computation and separate sections for required information for the transferor (you) and the trust. You and your advisors can work together to develop a detailed list of documents and information required to determine the value of the money and property transferred to your trust or given outright as a gift or part of an inheritance. Understanding the complex calculations when applying the GST tax, exemption amount, and any exceptions is critical. This is where professional tax advice is essential. They can calculate the amount of the GST tax exemption allocated to wealth transfers by dividing the value of the property involved in the transfer.¹⁶ The fraction is rounded to the nearest one-thousandth (.001) and looks like this:

GST tax exemption allocated Value of property transferred

The next step is determining the inclusion ratio by subtracting the fraction from the number one. Depending on the ratio, the trust is either fully exempt, fully taxable, or partially taxable.¹⁷ Completing the Form To fill out the applicable forms, you need to gather a significant amount of information. Here is a list of information that may be needed:

● The legal name of the trust and its federal tax identification number ● Name and Social Security Number (SSN) or Employer Identification Number (EIN) of the individual making the GST ● A list of all beneficiaries, including their names and relationships to the transferor ● The generation of each beneficiary in relation to the transferor (skip person or non-skip person) ● Name and address of the trustee(s) responsible for managing the trust ● A detailed list of all assets held within the trust, including values at the time of the GST ● Appraisals of assets to determine their fair market values ● Information about any other gifts or transfers made by the transferor during their lifetime that could be subject to the GST tax ● Indication of how the transferor's GST tax exemption will be allocated among the trusts ● Allocations to skip persons, including any direct skips, indirect skips, or taxable terminations ● Details about the transferor or any beneficiary who is deceased ● Copies of the trust agreement and any amendments ● Any legal documents relevant to the GST ● Specific dates of GSTs

Filing Deadlines Generally, these forms must be filed by April 15 of the year following the calendar year when distribution or termination occurred. Be organized and prepared throughout the year to provide accurate information. Maintaining clear records will streamline the process of completing the filing on time. Sailing Through Tax Season Working with your trusted advisors ensures accuracy and compliance with the GST tax rules. When we work together, we can provide you and your loved ones with the best possible service and help you protect the legacy you are leaving behind. 1 Troy Segal, What is the Generation-Skipping Transfer Tax (GSTT) and Who Pays?, Investopedia (Feb. 7, 2023), https://www.investopedia.com/terms/g/generation-skipping-transfer-tax.asp. 2 Legal Info. Inst., 26 C.F.R. § 26.2601-1 Effective Dates, Cornell L. Sch., https://www.law.cornell.edu/cfr/text/26/26.2601-1 (last visited Feb. 14, 2024). 3 Derek Silva, What is a Generation-Skipping Trust? Policygenius (Jan. 2, 2024), https://www.policygenius.com/trusts/what-is-a-generation-skipping-trust/. 4 Troy Segal, What is the Generation-Skipping Transfer Tax (GSTT) and Who Pays?, Investopedia (Feb. 7, 2023), https://www.investopedia.com/terms/g/generation-skipping-transfer-tax.asp. 5 Derek Silva, What is a Generation-Skipping Trust? Policygenius (Jan. 2, 2024), https://www.policygenius.com/trusts/what-is-a-generation-skipping-trust/. 6 Legal Info. Inst., 26 CFR § 26.2601-1 Effective Dates, Cornell L. Sch., https://www.law.cornell.edu/cfr/text/26/26.2601-1 (last visited Feb. 14, 2024). 7 Id. 8 IRS Form 709, IRS.gov, https://www.irs.gov/pub/irs-pdf/f709.pdf (last visited Feb. 27, 2024). 9 IRS Instructions for Form 709, IRS.gov, https://www.irs.gov/pub/irs-pdf/i709.pdf (last visited Feb. 27, 2024). 10 IRS Form 706 GS(D-1), IRS.gov, https://www.irs.gov/pub/irs-pdf/f706gsd1.pdf (last visited Feb. 27, 2024). 11 IRS Instructions for Form 706 GS(D-1), IRS.gov, https://www.irs.gov/pub/irs-pdf/i706gsd1.pdf (last visited Feb. 27, 2024). 12 IRS Form 706 GS(D), IRS.gov, https://www.irs.gov/pub/irs-pdf/f706gsd.pdf (last visited Feb. 27, 2024). 13 IRS Instructions for Form 706 GS(D), IRS.gov, https://www.irs.gov/pub/irs-pdf/i706gsd.pdf (last visited Feb. 27, 2024). 14 IRS Form 706 GS(T), IRS.gov, https://www.irs.gov/pub/irs-pdf/f706gst.pdf (last visited Feb. 14, 2024). 15 IRS Instructions for Form 706 GS(T), IRS.gov, https://www.irs.gov/pub/irs-pdf/i706gst.pdf (last visited Feb. 14, 2024). 16 Legal Info. Inst., 26 CFR § 26.2654-1 - Certain Trusts Treated as Separate Trusts, Cornell L. Sch., https://www.law.cornell.edu/cfr/text/26/26.2654-1 (last visited Feb. 14, 2024). 17 Legal Info. Inst., 26 CFR § 26.2642-6 - Qualified Severance, Cornell L. Sch., https://www.law.cornell.edu/cfr/text/26/26.2642-6 (last visited Feb. 14, 2024).