Powers of Appointment: A Handy Tool in Your Client’s Toolbox

Posted by Robert L. Arone An often misunderstood but prevalent estate planning tool that often appears in estate planning documents is the power of appointment. Not to be confused with a power of attorney (the document that allows a living person to delegate certain powers to an agent to act on their behalf), a power of appointment can be an incredibly useful tool if used properly and knowledgeably. A well-considered power of appointment allows a client to maintain significant flexibility in their estate plan now and in the future, even when that estate plan is otherwise considered irrevocable under the law. Though hundreds of pages of books, scholarly articles, court decisions, and tax regulations have been written on the topic of powers of appointment, this newsletter can help you counsel your clients intelligently and confidently on the topic. It can also help you recognize and identify the existence of powers

Trust Protectors: Are They a Good Fit for Your Client?

Posted by Robert L. Arone What Is a Trust Protector? Traditionally, the three roles that must be filled when setting up a trust are the settlor (also called a grantor, trustor, or trustmaker), the trustee, and the beneficiary. All three roles are necessary to create a trust that functions properly. Although it is relatively common to use trust protectors in foreign asset protection trusts, a trust protector is a fairly new role in trusts drafted in the United States for estate planning purposes. However, as the number of trusts designed to last for generations grows, estate plans need more built-in flexibility. Giving a trust protector, through the terms of the trust, certain powers over the trust, such as removing or appointing trustees, adding or removing beneficiaries, and amending or even terminating the trust, ensures that your client’s intentions for creating the trust are fulfilled despite changing law or circumstances. How

Helping Clients Create an Up-to-Date Inventory

Posted by Robert L. Arone If your client has already done estate planning by creating a will or trust, then the client has taken a very important step toward ensuring that if the client becomes incapacitated or dies, the client’s loved ones will know how to help manage the client’s financial and legal affairs. However, simply having a will or a trust and related estate planning documents is often not enough. An inventory of all of the client’s accounts and property is crucial for helping the client’s loved ones manage the client’s affairs effectively. Most estate planning attorneys have received calls from distressed children who know that a deceased parent had a will or a trust, but have no idea what accounts, insurance policies, or items of real and personal property the parent owned. If an inventory was never prepared and shared with the parent’s attorney, the child likely had

Is Your Client’s Estate Plan Incapacity Proof?

Posted by Robert L. Arone For most people, it is perfectly natural to think about estate planning only in terms of planning for death. While it is certainly important for clients to make a plan for their eventual death, if that is all they plan for, their planning will be woefully inadequate. As medical knowledge and technology have improved over the decades, so too has modern medicine’s ability to keep people alive for much longer. It is no accident that in many areas of the country, long-term care facilities such as assisted living centers and nursing homes are being built at record pace.[1] At first blush, staying alive longer would seem to be a good thing. And for many people, it is. However, simply living longer does not necessarily result in ideal circumstances. Longevity coupled with incapacity can be extremely challenging if a client has failed to make arrangements for

Thursday, Jan. 7th – Tax Aspects of Cryptocurrencies Video Conference

TAX ASPECTS OF CRYPTOCURRENCIES Thursday, Jan. 7th, 9am-12:30pm ET Led by Eric P. Rothenberg, Esq., MBA Register Now With Bitcoin jumping from $3,900 in March to $28,000 in December there was much selling in 2020. The IRS now asks on page 1 of Form 1040 if you received, sold, sent, exchanged, or otherwise acquired cryptocurrency. If one of your clients answers yes to this question, are you prepared to analyze your client’s situation and advise him/her as to what needs to be reported (if anything) on a 2020 tax return? If not, you may want to attend our 4-hour live video conference entitled Tax Aspects of Cryptocurrencies on 01/07/21 from 9:00am-12:30pm led by Eric P. Rothenberg, Esq., MBA who represents and prepares income tax returns for individuals who buy and sell cryptocurrencies. Eric’s discussion will include FinCEN regulations issued on 12/23 and the increase in the use of digital wallets as

Trusted Legal Resources

Powers of Appointment: A Handy Tool in Your Client’s Toolbox

Trust Protectors: Are They a Good Fit for Your Client?

Helping Clients Create an Up-to-Date Inventory

Is Your Client’s Estate Plan Incapacity Proof?

Thursday, Jan. 7th – Tax Aspects of Cryptocurrencies Video Conference

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© 2025 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

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Trusted Legal Resources

Powers of Appointment: A Handy Tool in Your Client’s Toolbox

Trust Protectors: Are They a Good Fit for Your Client?

Helping Clients Create an Up-to-Date Inventory

Is Your Client’s Estate Plan Incapacity Proof?

Thursday, Jan. 7th – Tax Aspects of Cryptocurrencies Video Conference

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How Can We Help?

© 2025 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

Have A Question?