Lowenstein Sandler's Trusts & Estates Podcast: Splitting Heirs

In this episode of "Splitting Heirs," host Warren K. Racusin speaks with Lowenstein's Bridget Harris and Stacy Singer, National Practice Leader for Trust and Wealth Advisory Services at Northern Trust, about the intersection of religion and estate planning. The conversation explores religious divorce and the role of prenuptial agreements, whether estate plans can condition inheritance on marrying within a faith, traditional Jewish inheritance rules and planning strategies, and how Islamic inheritance principles may differ from secular estate planning. They also discuss why clients seeking to align their estate plans with religious beliefs should carefully consider how those traditions interact with applicable law.

Speakers:

Warren K. Racusin, Of Counsel, Trusts & EstatesBridget Harris, Senior Counsel, Trusts & EstatesStacy E. Singer, National Practice Leader for Trust and Wealth Advisory Services, Northern Trust

In this episode of Splitting Heirs, host Warren K. Racusin invites Lowenstein partner Michael N. Gooen and Dr. Paul Hokemeyer, the founding principal of Drayson Mews, a mental health advisory firm that counsels wealthy individuals and families on mental health issues, to discuss the tax planning technique known as a grantor retained annuity trust ("GRAT"). The conversation explains the tax benefits of a GRAT, as well as the nuances required to successfully carry it out. The episode also analyzes the psychological effects first generation wealth and inherited fortunes can have if not planned for carefully.

Speakers:

Warren K. Racusin, Of Counsel, Trusts & Estates Michael N. Gooen, Partner, Trusts & Estates Dr. Paul Hokemeyer, (J.D., Ph.D.), Founder and Principal, Drayson Mews

In this episode of Splitting Heirs, partners Beth Shapiro Kaufman, National Chair of Private Client Services and Trusts and Estates Chair, and Kristin V. Taylor join host Warren K. Racusin to discuss the One Big Beautiful Bill through a tax and estates lens. They talk about "permanence" in the tax law while explaining the new estate and income tax benefits in OB3. Kaufman, Taylor, and Racusin elaborate on and debunk some of the bill's hot topics, including no tax on tips, no tax on social security benefits, SALT deductions, QSBS, and the 2/37ths rule.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & Estates Beth Shapiro Kaufman, Partner, National Chair, Private Client ServicesKristin V. Taylor, Partner, Tax, Private Client Services

In this episode of Splitting Heirs, host Warren K. Racusin invites Lowenstein partner Matt Savare and Bart Feller, Principal flute of the New Jersey Symphony, New York City Opera Orchestra, and Santa Fe Opera Orchestra, to break down copyright law for music and other original works and to talk about the importance of estate planning for creatives. The conversation covers the terms of a copyright, including author rights, for hire and not for hire stipulations, and termination timelines. The episode also analyzes examples of similar songs, determining whether or not the musician may be infringing copyright on the original work.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & Estates Bart Feller, Principal flute of the New Jersey Symphony, New York City Opera Orchestra, and Santa Fe Opera Orchestra Matt Savare, Partner, Chair, Commercial Contracts, Emerging Companies & Venture Capital, IP & Tech Transactions, Patent Counseling & Prosecution

In this episode of Splitting Heirs, host Warren K. Racusin sits down with Deb Guston, partner Guston & Guston, LLP, and Kim Mutcherson, professor of law at Rutgers Law School, to discuss estate planning for non-traditional family structures, including surrogacy, adoption, sperm and egg donors, and frozen embryos. They outline different circumstances in which inheritance may be questioned and how to properly plan to avoid legal complications.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & EstatesDeb Guston, Partner, Guston & Guston, LLPKimberly Mutcherson, Professor of Law, Rutgers Law School

Host Warren K. Racusin, Chair of Lowenstein's Trusts & Estates practice, invites Meghan M. Federman and Joanne Mournet, President at DOYLE Auctioneers & Appraisers, to cover how estate planning for art and valuables differs from traditional estate planning. Racusin and Federman discuss the legal considerations and tax implications, trusts, and insurance, while Mournet concludes with exciting anecdotes from her experience on the auction side.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & EstatesMeghan M. Federman, Counsel, Private Client ServicesJoanne Mournet, President, Doyle Auctioneers & Appraisers

Host Warren K. Racusin, Chair of Lowenstein's Trusts & Estates practice, talks about the law and lore of cemeteries with Eric D. Weinstock, and Rich Moylan, president of Green-Wood Cemetery in Brooklyn, New York. They discuss the regulations governing the upkeep and maintenance of these hallowed grounds, the rules about ownership of funeral plots, and the history and architecture of Green-Wood—sprinkling the conversation with some appropriately dark humor.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & EstatesEric D. Weinstock, Senior Counsel, Trusts & EstatesRichard Moylan, President, Green-Wood Cemetery

Music credits:

• Lacrimosa – Mozart, Cover by Vivienne Sängerin - https://www.youtube.com/@viviennesaengerin
• I Met Somebody on the Way to the Cemetery – Mark Bishop, ℗ 2023 Sonlite Records

On this episode of "Splitting Heirs," partner Warren K. Racusin, Chair of Lowenstein's Trusts & Estates practice, invites Beth Shapiro Kaufman, Lowenstein Sandler partner and National Chair of the Private Client Services group, and Sandra Swirski, founder of the bipartisan advocacy firm Integer, to discuss how the upcoming 2024 presidential election may affect the taxes you have to pay--exclusions (including the 'deceased spousal unused exclusion' or DSUE), and other tax cuts expected to expire soon. In addition to examining the impact of these sunsetting cuts on a particular client, they also address the political and legislative factors that influence these kinds of changes.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & Estates Beth Shapiro Kaufman, Partner, National Chair, Private Client Services Sandra Swirski, Founder, Integer

On this episode of "Splitting Heirs," Warren K. Racusin welcomes back Sharon L. Klein, President of Family Wealth for the Eastern US Region of Wilmington Trust Company and member of the Estate Planning Hall of Fame, to continue their discussion of Lovey and Hubby, two clients who celebrated their 50th wedding anniversary and then became embroiled in an extremely contentious divorce. The discussion centers on whether irrevocable trusts, into which marital assets were transferred during the course of the marriage, can be considered part of the marital balance sheet during a divorce. Warren and Sharon also address spousal limited access trusts, the concept of the "floating spouse," tax liability for grantor trusts, and how estate planning attorneys guide clients through the most difficult periods in their lives.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & EstatesSharon L. Klein, EVP, President - Family Wealth, Eastern U.S. Region & Head of National Divorce Advisory Practice, Wilmington Trust, N.A.

On this episode of "Splitting Heirs," Warren K. Racusin talks with Lowenstein partner Nick San Filippo, Chair of the firm's Business Divorce practice, and Jeff Savlov, a partner in the family business and wealth consulting firm Blum & Savlov, about the challenges facing family-owned businesses when disputes arise between parents and children, siblings, or other relatives. Observing that an unwillingness to address uncomfortable issues about succession planning and the future of the business often leads to conflict when the matriarch or the patriarch passes away, San Filippo emphasizes the need for a clearly constructed shareholders' agreement so that all parties are clear on governance, documentation, and succession issues: who will lead the business, how will owners get paid, how should distributions should be made out of the business to cover taxes or distribute profits? The lawyers also encourage families to review these documents periodically as life circumstances and priorities may evolve over time.

Speakers:

Warren K. Racusin, Partner and Chair, Trusts & EstatesNicholas San Filippo IV, Partner Co-chair, Business DivorceJeff Savlov, Partner, Blum & Savlov