Advertise on podcast: 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 & Estates Bridget Harris, Senior Counsel, Trusts & Estates Stacy 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 Services Kristin 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 & Estates Deb Guston, Partner, Guston & Guston, LLP Kimberly 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 & Estates Meghan M. Federman, Counsel, Private Client Services Joanne 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 & Estates Eric D. Weinstock, Senior Counsel, Trusts & Estates Richard 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 & Estates Sharon 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 & Estates Nicholas San Filippo IV, Partner Co-chair, Business Divorce Jeff Savlov, Partner, Blum & Savlov

Today on "Splitting Heirs," host Warren Racusin speaks with Molefi McIntosh and Mavis Gragg about the "heirs' property problem--" or what happens to real estate when it is passed down within families without benefit of a will. The guests address the historical and legal impact as well as the economic and racial inequities that resulted from the fractionalization of real estate down through multiple generations, as well as recent efforts to right the injustices of the past through such legislation as the Uniform Partition of Heirs' Property Act, and new technology that leverages data to clear title. Speakers: Warren K. Racusin, Partner and Chair, Trusts & Estates Molefi McIntosh, Associate, Private Client Services Mavis Gragg, Co-Founder, HeirShares

Host Warren K. Racusin welcomes Melissa L. Wiley of Lowenstein's Tax practice and Elie Honig, CNN senior legal analyst, former federal prosecutor, and special counsel in Lowenstein's White Collar Criminal Defense practice, to the "Splitting Heirs" podcast to discuss the case of DeGuzman vs. the Commissioner of Internal Revenue, where a wealthy couple splits up and gets into a fight about  responsibility for tax liability incurred during their marriage. The lawyers examine the concept of "the innocent spouse," the differences between criminal tax fraud and civil tax fraud, how tax laws can be used to bring down organized crime bosses, (and why Hermes bags always seem to figure prominently in these kinds of cases).    Speakers: Warren K. Racusin, Partner and Chair, Trusts & Estates Elie Honig, Special Counsel, White Collar Criminal Defense Melissa Wiley, Partner, Tax

Unlike most countries in the world, if you are a citizen or resident of the United States, the government gets to tax all of your worldwide income, regardless of where it's earned or where you live. And if the IRS decides that your tax home is the US your family may get hit by an estate tax, even if you aren't a citizen or resident. In this episode of "Splitting Heirs," host Warren K. Racusin speaks with fellow partner Megan E. Wernke about international and cross-border tax planning, and the different obligations and documents required for individuals with assets or income in the U.S. but who are domiciled elsewhere; have renounced their U.S. citizenship completely; or who are considered non-resident aliens.  Speakers: Warren K. Racusin, Partner and Chair, Trusts & Estates Megan E. Wernke, Partner, Private Client Services

In this episode of "Splitting Heirs," Warren K. Racusin, partner and Chair of Lowenstein's Trusts & Estates practice, speaks with Sharon L. Klein, EVP, President - Family Wealth, Eastern U.S. Region & Head of National Divorce Advisory Practice, Wilmington Trust, N.A., about estate planning for divorcing couples, including  "grey divorce"—when couples in their 50s and older—often with significant assets—decide to go their separate ways. They address the importance of—before initiating divorce proceedings—reviewing all of one's estate planning documents, including beneficiary designations, executors, trusts, and prenuptial agreements, to make sure that they reflect your current wishes, and they illustrate the dangers of failing to prepare for a split with examples of disastrous celebrity breakups. Speakers: Warren K. Racusin, Partner and Chair, Trusts & Estates Sharon L. Klein,  EVP, President - Family Wealth, Eastern U.S. Region & Head of National Divorce Advisory Practice, Wilmington Trust, N.A.

In this episode of "Splitting Heirs" host Warren K. Racusin of Lowenstein's Trusts & Estates practice is joined by Jeffrey J. Wild, Lowenstein partner and litigator whose practice focuses on fiduciary issues; the Honorable Paul D. Wilson, Associate Justice of the Massachusetts Superior Court; and Zachary Racusin, professional baseball player and owner/director of player development of Rax Hax Pro Performance, to explore the dynamics of competition when family members fight over inherited property. How can litigants prove a decedent's wishes regarding his or her intentions, when is it worth the time and expense of going to trial, and when should parties and advocates put aside their respective rivalries and move on? Speakers: Warren K. Racusin, Partner and Chair, Trusts & Estates Jeffrey J. Wild, Partner, Business Litigation Honorable Paul D. Wilson, Associate Justice for the Massachusetts Superior Courts Zachary Racusin, Professional Baseball Player and Owner & Director of Player Development, Rax Hax Pro Performance