Avenue Magazine: “Is your estate protected in 2011?”

The January, 2011 issue of Avenue Magazine features an article by John McManus, Is your estate protected in 2011?:

Now that the estate tax debate in Congress is over (for now), there is no better time for individuals and families to take action and optimize their estate plans. As we embark on a new year, we must resolve to capitalize on estate planning strategies that will not only spur asset growth for our heirs, but also ensure that a legacy of values continues for our loved ones.


Financial Advisor Magazine: “GRATs Dodge Regulatory Bullet”

Financial Advisor Magazine quotes John McManus for their story, “GRATs Dodge Regulatory Bullet”:

In March, the U.S. House of Representatives passed a bill with a provision that would have limited some of their tax benefits. A bill that failed in the Senate earlier this month would have required that GRATs be set up for a minimum 10-year term, making them much less attractive.

While many people did set up GRATs this year, others were on the fence, waiting to see how Congress would weigh in. Nevertheless, President Barack Obama signed the bill into law Friday.

Now, some hedge-fund and private-equity executives who sat on GRAT plans during the estate tax repeal this year, are “moving forward because they see more certainty on the horizon,” says John O. McManus, an estate lawyer in New York.

Read the rest here