CURRENT DEVELOPMENTS IN ESTATE PLANNING NEWSLETTER

Welcome to the inaugural issue of the Family Heritage Trust Company newsletter: Current Developments in Estate Planning. Our goal with this publication is to provide our clients and colleagues in the estate and financial planning community with timely information and helpful articles on current trust and estate planning topics.

This first issue takes a look at some of the major facets of gift splitting. On one level, it would seem that the concept of gift splitting is relatively straightforward. However, federal tax laws surrounding gift splitting are complex. An election to gift split affects all gifts made by either spouse for that particular tax year. Nuances with the gift-splitting election process, as well as issues relating to consent, can cause problems and may result in adverse tax consequences in certain circumstances, such as when the consenting spouse has retained certain rights over the split property.

Learn more by clicking here to read The Ins and Outs of Gift Splitting.

We hope that you will find these newsletters helpful in your practice. Please call on us if you and your clients have a need for fiduciary or investment management services.

RECENT NEWS

The Family Heritage Trust Company Welcomes Three New Directors

Donald C. Linton, Chairman of the Board, has announced the appointment of three new directors. Paula Jagemann, President of JAG Associates, LLC; the Rev. Dr. D. Stuart Dunnan, Headmaster of St. James School; and Byron K. Byrd, DDS have all joined the Board this summer… Read more

The Family Heritage Trust Company is a non-depository chartered independent trust company and private wealth management firm based in Frederick, Maryland. The company provides personal trust and investment services including portfolio management, asset selection, bill paying, assistance to family members with life challenges, transition of assets to the next generation and tax planning. The Family Heritage Trust Company also specializes in retirement planning and assisting clients with 401(k) and IRA rollovers.