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Part Two provides more scenarios under which an Employer-Sponsored Death Benefit plan may be assigned, based on IRS memoranda.
Part One of this article, in last month’s issue, introduced the concept of the taxation of capital income, under which the donor or deceased owner of an appreciated asset would realize a capital gain at the time of the transfer. The article discussed how an Employer-Sponsored Death Benefit plan could help remove the appreciated asset from one’s estate and how the assignment of such a policy to an irrevocable life insurance trust (ILIT), or insurance limited partnership (ILP) will be recognized for federal transfer tax purposes.
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How to Cut IT Costs and Streamline Operations with Leasing
By Scott McFetters
While analysts predict firms will still see savings from expense cuts in 2021, these savings won't be as dramatic as in 2020 and, moreover, recommend that firms should use profit gains to invest in long-term strategies for growth — like technology.
Understanding Your Clients’ Changing Needs In a Post-Pandemic Legal Market
By Marci Krufka Taylor
If it was challenging to get facetime with clients pre-pandemic, that challenge has only multiplied in the post-pandemic world. As firms look for creative ways to reconnect with clients, client interviews and surveys have become more important than ever for ensuring client satisfaction, loyalty and profitability.
Beyond Se Habla Español: Insights Into Selling to the Expanding Hispanic Market
By Natalie Fragkouli and Liel Levy
Law firms frequently lack the appropriate marketing strategies to engage the growing U.S. Hispanic population. The lack of a cohesive strategy poses a risk to a law firm's current and future growth potential. This article explores practical insights for law firms that want to serve this rapidly expanding market.
Stakeholders: How to See Things from the Client’s Perspective
By Catherine Alman MacDonagh
Without hearing the Voice of the Customer (or Client), we risk missing the mark in our strategy, messaging and positioning, as well as delivery of work, product and service, operations, technology, staffing and so forth — in short, we potentially miss on everything.
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